Article Summary:

Article Content:

The following information is from the local MLS database as of July 25, 2009, compared to (July 18, 2009) and (July 26, 2008).

Total # of condos for sale in the city of Boston: 2,062 (2,098) (2,191)

Average # of days on market: 128 (127) (133)

Number of condos sold, past 30 days: 409 (387) (422)

Average days on market, sold units: 91 (90) (101)

Ratio, closing/sales price to original/list price: 95% (95%) (93%)

Months supply of condos: 5.04 (5.42) (5.19)

Median close price, last thirty days, this year: 5,000

Median close price, last thirty days, last year: 9,750

Average close price, last thirty days, this year: 1,715

Average close price, last thirty days, last year: 5,007

# of properties going under agreement, last thirty days: 384 (398) (419)

Average # of days on market: 108 (100) (98)

Velocity: 0,661,276 (9,219,976) (8,893,064)

(Velocity is the # of units sold during last 30 days multiplied by the $ amount)

My thoughts: Summer brings lower levels of sales due vacations / family plans. I’d say we’re doing quite well, all things considered. Inventory is high enough for buyers to have a good selection from which to choose while sellers should feel comfortable finding buyers within a reasonable period of time.

Based on information provided to and compiled by the Multiple Listing Service Property Information Network, Inc. covering the period 06/25/2009 - 07/25/2009, 06/18/2009 - 07/18/2009, and 06/26/2008 - 07/26/2008.