The following information is from the local MLS database, as of January 3, 2008, compared to (December 25, 2007) (and January 8, 2007 – where available).
Total # of condos for sale in the city of Boston: 1,922 (2,039) (1,919)
Average # of days on market: 156 (151) (151)
Number of condos sold (closed) over the past 30 days: 212 (272) (284)
Average days on market, sold units: 107 (110) (115)
Ratio, closing (sales) price to original (list) price: 92% (92%) (92%)
Number of properties going under agreement, last 30 days: 181 (211) (239)
Average days on market: 115 (114) (N/A)
Total Market Volume (Velocity): $114,256,350 ($143,760,300) (N/A)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: The 30-days ending January 8, 2007 looks as though they were much busier than this year. 239 units under agreement vs. 181 this year, and 284 closings vs. 212 this year. Because of the holidays, it’s hard to make year-to-year comparisons.
Having said that, this could be the way things are going to be, going forward. I think we’ll see an uptick in both under agreements and then, sales, over the coming two months as the market stabilizes.
Based on the information provided to and compiled by MLS Property Information Network, Inc. covering the period 12/03/2007 through 1/3/2008, and the period 12/08/2006 through 01/08/2007.
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