The following information is from the local MLS database, as of September 8, 2007, compared to (September 1, 2007).
Total # of condos for sale in the city of Boston: 2,272 (2,171)
Average # of days on market: 130 (132)
Median price of all condos for sale in the city of Boston: $384,900 ($379,000)
Average price of all condos for sale in the city of Boston: $587,237 ($568,102)
Number of condos sold (closed) over past 30 days: 467 (468)
Median sales price, last 30 days: $359,000 ($362,882.50)
Average sales price, last 30 days: $436,526 ($443,718)
Average days on market: 92 (90)
Ratio, closing (sales) price to original (list) price: 94% (94%)
Number of properties going under agreement, last 30 days: 228 (259)
Total Market Volume (Velocity): $203,857,659 ($207,660,218)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
My thoughts: Closings and under agreements are lower because we’re talking a 30-day rolling average; you should begin to see increases three or four weeks from now, as we get into October, and properties during the fall market go under agreement and close.
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Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 08/08/2007 through 09/08/2007.
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