The following information is from the local MLS database, as of June 28, 2008, compared to (June 21, 2008) (and June 23, 2007 – where available).

Total # of condos for sale in the city of Boston: 2,465 (2,489) (2,667)
Average # of days on market: 124 (123) (114)

Number of condos sold (closed) over past 30 days: 523 (488) (550)
Average days on market, sold units: 98 (96) (98)
Ratio, closing (sales) price to original (list) price: 93% (93%) (94%)

Median close price, 2008: $398,000
Median close price, 2007: $380,000

Average close price, 2008: $527,280
Average close price, 2007: $542,214

Number of properties going under agreement, last 30 days: 466 (451) (498)
Average days on market: 96 (90) (N/A)

Velocity: $275,767,357 ($259,339,932) ($298,218,210)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)

My thoughts: Market shows resiliency in the face of unrelenting poor economic news. Offsetting this: Almost all of us still have (good-paying) jobs!

Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 5/28/2008 – 6/28/2008, and the period 5/23/2007 – 6/23/2007.

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