The following information is from the local MLS database, as of September 29, 2007, compared to (September 22, 2007).
Total # of condos for sale in the city of Boston: 2,469 (2,445)
Average # of days on market: 124 (124)
Median price of all condos for sale in the city of Boston: $385,000 ($379,900)
Average price of all condos for sale in the city of Boston: $590,744 ($588,495)
Number of condos sold (closed) over past 30 days: 342 (393)
Median sales price, last 30 days: $350,000 ($345,000)
Average sales price, last 30 days: $442,046 ($439,497)
Average days on market: 82 (90)
Ratio, closing (sales) price to original (list) price: 95% (95%)
Number of properties going under agreement, last 30 days: 257 (255)
Total Market Volume (Velocity): $151,180,042 ($172,722,392)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: Number of sales closed is low … so slowwww … Could be the end of summer doldrums playing out (closings now would be under agreements from the end of August). Number of units on market is reasonable, as is under agreements. Solds will increase toward the end of October and into mid-November.
Oh, and congratulations to the buyer of the $4.6 million home on Beacon Street, which went under agreement this week. Four thousand square feet, three bedrooms, four baths, two parking spaces? Nice. Also nice? The $115,000 earned by the buyer’s agent (no, not me).
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