South Boston Condo Market Update 11/21/2019
Welcome to today's market update! Today we are looking at the Condo market in South Boston as of November 21, 2019. Currently, there are 131 listings active in South Boston. This is down 8 from this time last year. Among active listings in South Boston the average current days on market is 95. Last year the average time on market for actively listed Condos was 60, down 35 days from where it currently sits. The average list price currently sits at $1,017,607, which represents an increase of $45,983 from this time last year. That equates to a 4.73% change.
Looking at closed transactions there were 129 total Condo sales in the past 90 Days in South Boston. The average sale price for these transactions was $798,550 that is a decrease of $9,177 from last year and was, on average, 98.3% of list price. The average days on market was 54, an increase of 12 days from last year.
Every post here we look The Signal Index to see if the South Boston Condo market is slowing down or picking up. Currently, the South Boston Condo market's Signal Index sits at 226. This is up 43 from last year indicating the market is relatively equal to last year. What is the Signal Index? It is simply the number of active listings currently available in South Boston (131) plus the average days on market for those listings (95). This number quickly reflects how many properties are for sale and for how long they have been available.