The following information is from the local MLS database, as of June 14, 2008, compared to (June 7, 2008) (and June 16, 2007 – where available).
Total # of condos for sale in the city of Boston: 2,485 (2,524) (2,672)
Average # of days on market: 123 (120) (112)
Number of condos sold (closed) over past 30 days: 456 (447) (504)
Average days on market, sold units: 92 (96) (100)
Ratio, closing (sales) price to original (list) price: 92% (93%) (93%)
Median close price, 2008: $380,000
Median close price, 2007: $398,000
Average close price, 2008: $512,752
Average close price, 2007: $533,243
Number of properties going under agreement, last 30 days: 439 (456) (507)
Average days on market: 89 (88) (N/A)
Velocity: $233,814,983 ($225,473,575) ($271,954,103)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
Total Market Value, condos for sale: $1,513,989,315 ($1,538,971,031) (N/A)
My thoughts: Notice that inventory is lower than last year.
Based on information provided to and compiled by MLS Property Information Network, Inc. covering the period 5/14/2008 – 6/14/2008, and the period 5/16/2007 – 6/16/2007.
