The following information is from the local MLS database, as of November 4, 2006, compared to (last weekâ€™s numbers).
Total # of condos for sale in the city of Boston: 2,795 (2,826)
Average # of days on market: 132 (133)
Median price of all condos for sale in the city of Boston: $389,000 ($392,700)
Average price of all condos for sale in the city of Boston: $567,483 ($570,171)
Number of condos sold (closed) over past 30 days: 253 (238)
Median sales price, last 30 days: $315,000 ($343,000)
Average sales price, last 30 days: $422,346 ($459,180)
Average days on market: 115 (107)
Ratio, closing (sales) price to original (list) price: 91% (93%)
Number of properties going under agreement, last 30 days: 310 (310)
My thoughts: I think the drop in average and median sales prices is a blip, that’s a big drop for just one week. We’ll know over the coming weeks.