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Welcome to The Griffin Real Estate Market Update, I’m Danny Griffin.
If you’re thinking about buying or selling residential real estate, it’s important to understand the current market trends.
According to MLSPIN, the marketplace for Back Bay residential properties, here’s what happened in Q2 2023 vs Q2 2024:
The Number of SOLD listings decreased by 3% to 99 properties with a top sale of $7.42 million at 200 Beacon St #4 in Back Bay.
The Average Sales Price increased by 24% to $2.13 million and the Average Price Per Square Foot increased by 18% to $1,540 per square foot.
The inventory of properties available for sale as measured in months supply decreased by 1% at 4.73 months worth of properties for sale.
The average 30-year fixed mortgage rate increased by 3% to an average rate of 7.02% according to Bank Rate.com
If you’re thinking about buying or selling residential real estate now or in the near future, it’s important to seek the guidance and advice of a professional real estate agent.
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market Update.
Boston
Average Sales Price
Q2 2023 – $1716480.39
Q2 2024 – $2131707.1
increased by 24%
Average Days On Market
Q2 2023 – 54
Q2 2024 – 51
decreased by 6%
Average Sale Price Per Square Foot
Q2 2023 – $1303.93480031583
Q2 2024 – $1539.67173794313
increased by 18%
Median Sales Price
Q2 2023 – $1237500
Q2 2024 – $1385000
increased by 12%
Number of Sold Listings
Q2 2023 – 102
Q2 2024 – 99
decreased by 3%
Months Supply of Inventory
Q2 2023 – 4.78
Q2 2024 – 4.73
decreased by 1%
Mortgage Rate
Q2 2023 – 7.02%
Q2 2024 – 6.84%
3% increased
Top 10 Sales
- $7425000 200 Beacon Street #4 Back Bay, MA
- $6500000 184 Beacon #Penthouse Back Bay, MA
- $6075000 341 Commonwealth #PH Back Bay, MA
- $5800000 300 Boylston Street #1204 Back Bay, MA
- $5765000 430 Stuart #33A Back Bay, MA
- $5400000 134 Beacon Street #101 Back Bay, MA
- $5320000 1 Dalton #4102 Back Bay, MA
- $5200000 430 Stuart #26J Back Bay, MA
- $5175000 776 Boylston St #PH1D Back Bay, MA
- $4990000 430 Stuart #25A Back Bay, MA
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