Wednesday, January 04, 2006

Condo Sales and Inventory

Below I've posted the monthly sales and inventory levels for condos in Massachusetts (compiled from the Mass. Assoc. of Realtors) over the past 6 and 3.5 years, respectively. The increasing trend in sales is much more apparent than for SFHs, especially in 2003 and 2004. Sales increases continued in 2005, although the trend slowed.

As with SFHs, the condo inventory picture is telling. 2005 saw a profound increase in condo inventory levels, spiking in late summer. Since then condo inventory has dropped precipitously, plummeting nearly 5000 units over two months. Over those same two months, only ~3500 condos were sold. Where did all the condos go? And perhaps more importantly, will they be reappearing on the market in the coming weeks and months? Looking to the future, how many more condos are in the planning and construction stages throughout Boston and Massachusetts? I'll look around and see what I can find - tips and comments welcome.

-DT


7 comments:

Chip said...

There's another possibility.

Have you seen any double entries of listings -- the same home or condo posted twice, with different MLS numbers. Here in the South, a number of MLS areas have been converting their listings, (counterproductively IMO) reducing the amount of information available to the online browser -- most particularly the street address.

If by chance you have seen this happening there, I believe it would fully explain the quantity anomaly you described.

DT said...

chip,

I just compile the statistics released by the MAR at the end of the month. Not sure if they might have some snafus in their data collection.

I do think there will be a tendency to reduce transparency as things evolve.

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arrielle_p said...

Just want to ask to where did all the condos go? Great blog you have in here, thanks for sharing the charts.

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