The following information is from the local MLS database, as of August 2, 2008, compared to (July 26, 2008) (and August 4, 2007, where available).

Total # of condos for sale in the city of Boston: 2,119 (2,191) (2,339)
Average # of days on market: 134 (133) (125)

Number of condos sold (closed) over past 30 days: 383 (422) (445)
Average days on market, sold units: 108 (101) (84)
Ratio, closing (sales) price to original (list) price: 93% (93%) (95%)

Median close price, 2008: $378,500
Median close price, 2007: $365,950
Median under agreement price, 2008: $339,450

Average close price, 2008: $449,974
Average close price, 2007: $458,492
Average under agreement price, 2008: $434,932

# of properties going under agreement, last 30 days: 378 (419) (389)
Average days on market: 101 (98) (N/A)

Velocity: $172,339,956 ($208,893,064) ($203,570,744)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)

My thoughts: Average price this year drops below last year, for the first time.

Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 7/2/2008 – 8/2/2008, and the period 7/4/2007 – 8/4/2007.

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