The following is the Weekly Activity Summary, as reported by the Boston Listing Information Network (LINK), for the week 9/9/2006 - 9/16/2006, compared to (last week’s numbers).

Number of new listings: 267 (244)
Number of price changes: 204 (231)
Number of properties back on the market: 23 (39)
Number of properties off-the-market: 80 (134)
Number of properties under agreement: 51 (68)
Number of properties sold: 151 (162)

Total number of properties currently on the market: 3,158 (3,006)

Prospective buyers were out in force this past week; whether or not they found sellers willing to negotiate, is another issue altogether. Number of under agreements went down.

We won’t know for sure the state of the market until September under agreements and October sales figures are in.

The median home price in Boston was unchanged in the past year at $390,000, but that stability masked wide swings in prices in the city’s 15 neighborhoods, according to a Boston Globe analysis of city-provided data.

Prices declined a sharp 17.5 percent, to $329,900, in the once-red-hot East Boston market, and fell more modestly in Jamaica Plain and some downtown neighborhoods. But three outer, more affordable neighborhoods — Mattapan, Charlestown, and Allston-Brighton — experienced large price increases.

In the city as a whole, the number of sales fell 7.5 percent.

Complete story: Shifts in Hub home prices were all over the map - By Kimberly Blanton, The Boston Globe

The Boston Herald ran an article on Sunday about The Metropolitan.

The Metropolitan is a 2-year old, 22-story building in Chinatown. There are rentals on the first 10 floors, but above that are 118 condos.

The units are comfortable, with higher-end finishes, and the building constructed of good quality. Many units have killer views of downtown Boston or the Blue Hills.

The Herald article discusses unit #2001, a 20th-story, 1028 square foot, two-bedroom home, listed for $719,000.

Also avaliable for sale, recently were:

14th floor, 500 square-foot, one bedroom, one bathroom unit, $359,000.
17th floor, 592 square-foot, one bedroom, one bathroom unit, $392,500.
10th floor, 1056 square-foot, two bedroom, two bathroom unit, $615,000.
22nd floor, 668 square-foot, one bedroom, one bathroom unit, $620,000.
14th floor, 1308 square-foot, three bedroom, two bathroom unit, $699,000.

Looking to buy a home, but not sure, or unable to come up with the necessary down payment?

A “lease option” may be just the thing for you.

Bob Bruss from Inman News discussed it in a column, recently:

WHAT IS A LEASE-OPTION? A real estate lease of a house, condominium or commercial property, which gives the tenant the option to buy the property, offers both the tenant and landlord many advantages. Much like a new car lease, the renter has the choice of buying the property or not by the end of the lease term.

However, a lease-option is not the same as a lease-purchase. With a lease-purchase, the contract requires the tenant to buy the property, usually within a year or two. But a lease-option doesn’t force the tenant to buy.

Lease-options work especially well when the local market has either an oversupply of house and condo rentals and/or an oversupply of houses and condos listed for sale.

Why? Because you rent the house for a year or two, and, only then, if you like where you are, will you decide to buy (at the pre-determined price). You’ve already put money into the property, so you’ve built equity, while bringing the purchase price lower.

However, if you find that you can get a comparable home to the one you’re in, but for less money, you can just walk away, and buy the other house. (And, don’t forget, renters get a tax deduction on their Massachusetts state income tax return.)

Of course, an attorney should be consulted, in order to make sure your interests are protected.

Five years from now, the Fan Pier - Seaport District neighborhood will be practically unrecognizable, based on what’s being planned for the area.

According to The Boston Herald:

Long-time city developer Joe Fallon yesterday offered a sneak peak of the design of the long-anticipated Fan Pier project, the largest waterfront project in Boston’s history.

Fallon, in a presentation to a City Hall design panel, laid out his vision for a new Hub neighborhood of nine city blocks and three million square feet of residences, offices, shops and restaurants.

While the project would be dominated by high-rise condos, offices and hotels - up to 21 stories - the buildings will be lined with restaurants and stores at street level. Two major parks, a marina and a harborwalk would also make the development accessible to the public.

A flagship condo and hotel tower will be the first to go up. The high-rise will take shape next to the Institute of Contemporary Art’s soon-to-open glass harborfront showcase and Anthony’s Pier 4.

The following is the Weekly Activity Summary, as reported by the Boston Listing Information Network (LINK), for the week 9/2/2006 - 9/9/2006, compared to (last week’s numbers).

Number of new listings: 244 (57)
Number of price changes: 231 (91)
Number of properties back on the market: 39 (23)
Number of properties off-the-market: 134 (121)
Number of properties under agreement: 68 (56)
Number of properties sold: 162 (213)

Total number of properties currently on the market: 3,006 (2,942)

Large number of new listings and price changes as sellers prepare for the fall market. What remains to be seen is whether these sellers have priced their properties appropriately, and whether buyers are ready to buy, given the state of the market.

Intercontinental Real Estate Corp, new owners of a plot of land on D Street, in the Seaport District, received approval from the Boston Redevelopment Authority to build 585 condos within four buildings, ranging in height from six to 17 stories.

The project is scheduled to be completed approximately two years from now.

The Seaport District is to undergo a tremendous amount of change over the coming years, with the build-out of Fan Pier, Pier 4, bringing new hotels, office towers, and residences to the area.

More: Apartment project is reborn as condos in a new S. Boston - By Thomas C. Palmer Jr., The Boston Globe

Are you thinking of buying your first house or condominium?

Here’s 8 signs you’re ready to buy, courtesy of Kiplinger.com (more details at their site):

You are ready to buy when …

No. 1: You have a budget — and you know how to use it
No. 2: You have a sizeable down payment
No. 3: You have a reliable source of income
No. 4: You have an emergency savings fund
No. 5: You have your debts under control
No. 6: Your credit report is in good shape
No. 7: You can make a long-term commitment
No. 8: You are prepared to become your own landlord

All things to consider, before taking the plunge!

The developer of Folio Boston, a new luxury condominium project in Boston’s Financial District will be holding an auction for the 34 remaining, unsold condominiums.

Folio Boston is a 14-story, newly constructed building facing the Rose Kennedy Parkway, at 80 Broad Street.

Out of the 96 units, 63 have been sold. The remainder are a mix of one-bedroom, two-bedroom and penthouse units.

A minimum bid will be required for each unit. A one-bedroom currently offered for sale at $480,000 will be sold at or above its $325,000 minimum price. The most expensive unit to be auctioned, a $1.76 million, two-bedroom with a wraparound terrace on the 14th floor with a waterfront view, has a $1.025 million minimum price.

The interiors of these units are of high quality. The largest penthouse is jawdroppingly beautiful, with sweeping views of the parkway and harbor.

It seems to be just a matter of timing, with the developer looking to move on from the project, and seeing the auction as a way to generate business. At this time, it doesn’t look as though any other Boston projects would be considering such a move. Unless of course, it’s an overwhelming success.

Source: Going once … By Kimberly Blanton, The Boston Globe

The following is the Weekly Activity Summary, as reported by the Boston Listing Information Network (LINK), for the week 8/26/2006 - 9/2/2006, compared to (last week’s numbers).

Number of new listings: 57 (97)
Number of price changes: 91 (140)
Number of properties back on the market: 23 (13)
Number of properties off-the-market: 121 (91)
Number of properties under agreement: 56 (77)
Number of properties sold: 213 (111)

Total number of properties currently on the market: 2,942 (3,041)

(For comparison, last year, for the week ending September 3, 2005, 166 properties were sold.)