The following information is from the local MLS database, as of December 15, 2007, compared to (December 8, 2007) (December 16, 2006 – where available).

Total # of condos for sale in the city of Boston: 2,164 (2,212) (2,189)
Average # of days on market: 141 (137) (146)

Number of condos sold (closed) over past 30 days: 276 (252) (278)
Average days on market, sold units: 100 (99) (116)
Ratio, closing (sales) price to original (list) price: 93% (93%) (93%)

Number of properties going under agreement, last 30 days: 240 (250) (295)
Average days on market: 106 (104) (N/A)

Total Market Volume (Velocity): $142,891,100 (N/A) (N/A)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)

My thoughts: The previous week’s sales volume was something like $126 million, which must have been a mistake, since it’s up to $142 million this week, so I am not reporting it. Otherwise, things are stagnant and quiet.

FYI, year-to-date, 2007, MLS reported 4,344 condo sales with a median price of $375,000, an average price of $492,125, and total market sales volume of $2,137,792,308 . Year-to-date, 2006, MLS reported 4,168 condo sales with a median price $350,000, an average price of $444,827, and total market sales volume of $1,854,042,481. The highest priced condo cost $8,250,000 in 2007 and $4,400,000 in 2006.

The rich got richer this year, I guess …

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Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 11/15/2007 through 12/15/2007, and the period 11/16/2006 through 12/16/2006.

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