The following information is from the local MLS database, as of March 8, 2008, compared to (March 1, 2008) (and March 5, 2007 – where available).
Total # of condos for sale in the city of Boston: 2,245 (2,181) (2,130)
Average # of days on market: 141 (139) (135)
Number of condos sold (closed) over past 30 days: 179 (157) (251)
Average days on market, sold units: 129 (119) (132)
Ratio, closing (sales) price to original (list) price: 91% (91%) (93%)
Number of properties going under agreement, last 30 days: 332 (311) (368)
Average days on market: 100 (104) (N/A)
Velocity: $83,447,034 ($73,148,966) (N/A)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
Total Market Value, condos for sale: $1,370,988,488 ($1,340,111,227) (N/A)
My thoughts: I feel as though there was a surge in activity, this past week. However, the anemic US jobs report and general economic malaise in the market may mean any improvement will be quick and, basically, irrelevant.
Based on information provided to and compiled by the Multiple Listing Service Property Information Network, Inc. covering the period 2/8/2008 through 3/8/2008, and the period 2/5/2007 through 3/5/2007.