The following information is from the local MLS database, as of July 19, 2008, compared to (July 12, 2008) (and July 21, 2007, where available).
Total # of condos for sale in the city of Boston: 2,227 (2,278) (2,420)
Average # of days on market: 131 (130) (122)
Number of condos sold (closed) over past 30 days: 411 (417) (477)
Average days on market, sold units: 100 (98) (83)
Ratio, closing (sales) price to original (list) price: 92% (95%) (95%)
Median close price, 2008: $380,000
Median close price, 2007: $365,000
Average close price, 2008: $510,105
Average close price, 2007: $485,658
Number of properties going under agreement, last 30 days: 441 (423) (461)
Average days on market: 101 (92) (N/A)
Velocity: $209,653,214 ($222,201,238) ($231,658,866)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: Sales and under agreements continue.
Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 6/19/2008 – 7/19/2008, and the period 6/21/2007 – 7/21/2007.
