So, I guess I forgot to do last week?s analysis? Sorry, too busy.
The following is Boston Proper condo and real estate sales data for the week ending May 20 2012, (May 6 2012), (May 22 2011), (May 22 2010), and (May 22 2009) where available. All condominium closings recorded by our local MLS during the past month.
Number of units currently on the market: 604 (637) (982) (1,136) (n/a)
Average days on market: 100 (96) (122) (115) (n/a)
Median list price: $749,000 ($749,000) ($639,000) ($632,500) (n/a)
Average list price: $1,095,540 ($1,091,948) ($1,000,713) ($1,016,294) (n/a)
Number of units under agreement: 218 (190) (169) (176) (n/a)
Number of units sold (past 30 days): 158 (155) (156) (145) (109)
Average days on market: 105 (107) (90) (105) (90)
Median close price: $605,000 ($605,000) ($530,750) ($554,775) ($510,000)
Average close price: $764,283 ($847,371) ($697,083) ($686,044) ($686,044)
Original list to close price: 96% (96%) (94%) (95%) (95%)
Sales velocity: $120,756,756 ($131,342,560) ($108,745,020) ($121,782,515) ($74,778,801)
Thoughts: We are heading toward the end of the spring market. Under agreements are up as buyers pull the trigger and make offers. Traditionally, activity tails off once we hit Memorial Day. Closings will be spread out over the next several weeks, and then stay low in July and August.
Did you buy this spring? What did you see out there? Low inventory? Bidding wars?
This report includes sales and inventory information for condominiums located in the following downtown Boston neighborhoods: South End, Back Bay, Beacon Hill, West End, North End, Waterfront, Seaport District, Chinatown, Leather District, Midtown, and Fenway.
Data collected from third-party sources by the Multiple Listing Service Property Information Network, Inc.
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