As you can see above, the Boston market continues to see low inventory and shorter days on market. At Charlesgate, this means really going to bat to find off market opportunities for our buyers as well as doing all we can to get top dollar for our sellers. By making sure we have our thumb on the market, we can best advise our clients and work in their best interest.
1. Condo sales for February equaled the number sold in February of 2004 at 425 units – 4th best on record for the month. This is an increase of 10.7% over the previous February’s sales volume.
2. The median price for February ($350,750) is down 12.3 percent from the record set last June, but up 30% from the lowest when it bottomed out at $270,000.
3. The days on market has been dropping over the past few months, with the current resting at an average of 93 days. This futher evidences the fact that buyer demand is outpacing supply.
4. The number of condos on the market again declined as it has done for almost the past two years. In fact, it is down 41% from last year at this time. At the current pace, there is a 4.5 month supply of condos for sale.
