Here are the Multiple Listing Service Statistics for sold properties in Downtown Boston (All Condominiums, no single family):

Sold Listings YTD 7/7/2011


Price Range # of Listings Avg.Days on Market Average Sale Price


$0 - $49,999 18 85 $39,822
$50,000 - $99,999 74 48 $75,097
$100,000 - $149,999 75 96 $125,112
$150,000 - $199,999 125 106 $176,727
$200,000 - $249,999 211 105 $225,224
$250,000 - $299,999 334 98 $273,977
$300,000 - $349,999 360 91 $324,522
$350,000 - $399,999 375 93 $373,898
$400,000 - $449,999 304 91 $423,195
$450,000 - $499,999 236 93 $472,728
$500,000 - $599,999 348 96 $544,556
$600,000 - $699,999 215 97 $646,037
$700,000 - $799,999 127 101 $740,444
$800,000 - $899,999 131 106 $844,102
$900,000 - $999,999 73 111 $940,770
$1,000,000 - $1,499,999 191 132 $1,232,171
$1,500,000 - $1,999,999 124 154 $1,700,073
$2,000,000 - $2,499,999 53 139 $2,206,931
$2,500,000 - $2,999,999 24 168 $2,741,211
$3,000,000 - $3,999,999 23 200 $3,311,739
$4,000,000 - $4,999,999 13 211 $4,335,577
$5,000,000 - $9,999,999 13 262 $6,315,385
$10,000,000 - $99,999,999 2 765 $12,700,000


Total Properties Sold 3449
Avg. Time on Market 103 Days

In your price range $1,500,000 - $1,999,999 - 124 Properties sold after being on the market for 154 Days for an average sale price of: $1,700,073

Best to you in your sale.

Tanya:

I would discuss with you Realtor the absorption rate for condos in your price range in Back Back. The absorption rate is a statistical indicator of how many months the properties in the $1.5 mil to $2mil range are taking to sell. My guess is that your market is somewhere in the 4-6 month range and therefore you will need to give it more time to find a well qualified buyer. Please reference my website if you have further questions.

By looking at Robert's numbers I would give it more time. If you don't have an offer soon maybe you should look into hiring another agent !

Tanya. I am so sorry to hear that. I just can't imagine what you have gone through negotiating for 50 days. Were you looking for a backup offer at all during that 50 days? You could leave the listing active with a remark that you have accepted offer, but looking for a backup.

Anyway, there is no rule on how long you have to wait before taking it off the market. But taking it off for a month or two would help when you put it back on the market again.

Tanya,

I'm not familiar with the Boston market... but it seems to me an offer in 53 days in your price range is promising. I'd be curious to know what held up the negotiation, and what you can learn from it.

Good luck!

Tom Lynch
Associate Broker, Berkshire Property Agents
Great Barrington, Massachusetts 01230

I would also add that properties in the higher price ranges usually take longer to sell. If you really have only marketed it for 53 days, then you probably need to give it more time.

In the higher price ranges, you can probably leave it on the market for a year before worrying about the days on the market.

Tanya;
You should ask your listing agent what the average days on the market is for your community and consider that the property was only on the market for 53 days...