The following information is from the local MLS database, as of February 9, 2008, compared to (February 2, 2008) (and February 10, 2007 – where available).
Total # of condos for sale in the city of Boston: 2,100 (2,025) (2,044)
Average # of days on market: 145 (147) (143)
Number of condos sold (closed) over past 30 days: 176 (186) (241)
Average days on market, sold units: 105 (112) (134)
Ratio, closing (sales) price to original (list) price: 93% (95%) (92%)
Number of properties going under agreement, last 30 days: 291 (238) (332)
Average days on market: 115 (130) (N/A)
Velocity: $94,453,816 ($110,227,297) (N/A)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
Total Market Value, condos for sale: $1,288,755,244 ($1,281,272,847) (N/A)
My thoughts: Phew, under agreements jumped up, so at least some people are out there looking! And, again, the days on market of units going under agreement and selling seem to be a lot less than average days on market – this means, as always, sellers who price their properties “appropriately” will find buyers. (Velocity dropped a lot, but I wouldn’t say this is significant, yet. It’s not like everyone just dropped their prices 10%.)
Based on the information provided to and compiled by MLS Property Information Network, Inc. covering the period 1/2/2008 through 2/2/2008, and the period 1/4/2007 through 2/4/2007.
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