The following information is from the local MLS database, as of January 19, 2008, compared to (January 13, 2008) (and January 20, 2007 – where available).
Total # of condos for sale in the city of Boston: 1,995 (1,991) (2,022)
Average # of days on market: 155 (155) (145)
Number of condos sold (closed) over past 30 days: 208 (221) (230)
Average days on market, sold units: 122 (124) (113)
Ratio, closing (sales) price to original (list) price: 95% (92%) (92%)
Number of properties going under agreement, last 30 days: 177 (154) (237)
Average days on market: 130 (125) (N/A)
Velocity: $121,497,727 ($125,800,124) (N/A)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
Total Market Value, condos for sale: $1,208,118,437 ($1,164,974,037) (N/A)
My thoughts: The slower market is what it is. Less sales, no degrading in pricing.
Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 12/19/2007 through 1/19/2008, and the period 12/20/2006 through 01/20/2007.
