The following information is from the local MLS database, as of May 3, 2008, compared to (April 25, 2008) (and April 28, 2007 – where available).
Total # of condos for sale in the city of Boston: 2,543 (2,542) (2,514)
Average # of days on market: 118 (121) (120)
Number of condos sold (closed) over past 30 days: 298 (230) (369)
Average days on market, sold units: 96 (136) (123)
Ratio, closing (sales) price to original (list) price: 93% (93%) (94%)
Median close price, 2008: $389,500
Median close price, 2007: $356,000
Average close price, 2008: $564,270
Average close price, 2007: $518,593
Number of properties going under agreement, last 30 days: 496 (514) (571)
Average days on market: 91 (95) (N/A)
Velocity: $168,152,556 ($139,778,289) (N/A)
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)
Total Market Value, condos for sale: $1,538,637,258 ($1,538,187,566) (N/A)
My thoughts: Median and average prices have increased since last year, and inventory hasn’t risen year-to-year? The Boston market is doing quite well.
Based on the information provided to and compiled by the Multiple Listing Service Property Information Network, Inc. covering the period 4/03/2008 through 5/03/2008, and the period 4/1/2007 – 5/01/2007.
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