Boston Real Estate for Sale

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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