The following information is from the local MLS database, as of February 23, 2008, compared to (February 16, 2008) (and February 24, 2007 – where available).
Total # of condos for sale in the city of Boston: 2,213 (2,152) (2,109)
Average # of days on market: 141 (142) (141)
Number of condos sold (closed) over past 30 days: 169 (160) (245)
Average days on market, sold units: 107 (102) (144)
Ratio, closing (sales) price to original (list) price: 93% (93%) (92%)
Number of properties going under agreement, last 30 days: 331 (329) (383)
Average days on market: 111 (111) (N/A)
Velocity: $83,695,663 ($84,672,866) (N/A)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
Total Market Value, condos for sale: $1,356,550,235 ($1,316,591,776) (N/A)
My thoughts: Units on the market went up a bit – seeing as the number of under agreements and sold stayed about the same, it leads me to believe these are new listings. And people aren’t going to list their properties for sale unless they think they are going to sell them, so we’ll see.
Based on information provided to and compiled by Multiple Listing Service Property Information Network, Inc. covering the period 1/23/2008 through 2/23/2008, and the period 1/24/2007 through 2/24/2007.