Dorchester Market Snapshot

Here is a recent market snapshot from MLS for the Dorchester Market. Inventory is way down and the super deals of last year are fewer.

	9/24/2008			9/24/2009
Price Range	Number of	Avg. Days	vs. today	Number of	Avg. Days
	Listings	on Market		Listings	on Market
Under $50,000	4	114		-	-
$50,000 - $99,999	41	157		22	116
$100,000 - $149,999	49	159		20	115
$150,000 - $199,999	73	202		42	124
$200,000 - $249,999	80	119		41	124
$250,000 - $299,999	107	155		64	85
$300,000 - $349,999	83	117		34	155
$350,000 - $399,999	63	112		47	98
$400,000 - $449,999	30	134		16	135
$450,000 - $499,999	41	162		19	75
$500,000 - $599,999	19	159		17	158
$600,000 - $699,999	18	227		9	298
$700,000 - $799,999	1	559		1	146
$800,000 - $899,999	1	55		3	165
$900,000 - $999,999	2	167		-	-
$1,000,000 - $1,499,999	1	16		-	-
$1,500,000 - $1,999,999	1	302		-	-
Total Properties	614	Avg. 149		335	Avg. 120
Lowest Price:	$40,000		Lowest Price:	$55,000
Median Price:	$279,460.50		Median Price:	$285,000
Highest Price:	$1,650,000		Highest Price:	$895,000
Average Price:	$298,584		Average Price:	$308,565
Total Market Volume:	$183,330,852		Total Market Volume:	$103,369,408

 

More deals to come

In the past two weeks I have seen a dramatic uptick in the number of BPO orders. A BPO is a broker price opinion. A third party contracts them out to local agents on behalf of lenders that are negotiating a short sale or marketing a foreclosure.

There has been a severe drought of BPO requests over the previous 8 months. However, I have received more requests in the past 2 weeks than the rest of 2009. This is telling me that there are more foreclosures coming and possibly some good deals too.