A COLD WIND BLOWS …
The following information is from the local MLS database, as of October 20, 2007, compared to (October 13, 2007).
Total # of condos for sale in the city of Boston: 2,480 (2,494)
Average # of days on market: 128 (125)
Median price of all condos for sale in the city of Boston: $389,000 ($385,000)
Average price of all condos for sale in the city of Boston: $587,012 ($583,185)
Number of condos sold (closed) over past 30 days: 246 (257)
Median sales price, last 30 days: $392,500 ($390,000)
Average sales price, last 30 days: $512,242 ($505,481)
Average days on market: 104 (97)
Ratio, closing (sales) price to original (list) price: 94% (95%)
Number of properties going under agreement, last 30 days: 277 (290)
Total Market Volume (Velocity): $126,011,720 ($129,908,632)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: I think it’s getting late in the season, I would have expected more “under agreements” each of the past three-four weeks. Days on market and total inventory levels aren’t too high, but it looks to be a pretty mediocre market out there.
Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 09/20/2007 through 10/20/2007.
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