The following information is from the local MLS database, as of September 22, 2007, compared to (September 15, 2007).
Total # of condos for sale in the city of Boston: 2,445 (2,382)
Average # of days on market: 124 (125)
Median price of all condos for sale in the city of Boston: $379,900 ($384,900)
Average price of all condos for sale in the city of Boston: $588,495 ($584,944)
Number of condos sold (closed) over past 30 days: 393 (471)
Median sales price, last 30 days: $345,000 ($345,000)
Average sales price, last 30 days: $439,497 ($434,331)
Average days on market: 90 (91)
Ratio, closing (sales) price to original (list) price: 95% (94%)
Number of properties going under agreement, last 30 days: 255 (252)
Total Market Volume (Velocity): $172,722,392 ($204,570,146)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: Well, everything seems fine except closings. I guess this is because of the effects of the holiday week. Either that, or MLSPIN is acting funny. Remember, we’re talking a 30-day rolling average – we wouldn’t expect to see such a drop, especially since everything else stayed pretty constant. Put another way: ignore sales data.
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Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 08/22/2007 through 09/22/2007.
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