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Welcome to The Griffin Real Estate Market Update.
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 Boston residential properties, here’s what happened in August 2022 versus July 2022:
The Number of SOLD listings decreased by 21% to 26 properties with a top sale of $653 thousand at 111 Terrie Marie in Fall River.
The Average Sales Price decreased by 5% to $359000 moving the Average Price Per Square Foot down to $236 per square foot.
The inventory of properties available for sale as measured in months supply increased by 4% to 2.04 months worth of properties for sale.
The average 30 year fixed mortgage rate increased to 5.57% according to Bank Rate.com.
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market Update.
Boston
Average Sales Price
July 2022 – $378290.91
August 2022 – $358999.96
decreased by 5%
Average Days On Market
July 2022 – 47
August 2022 – 28
decreased by 40%
Average Sale Price Per Square Foot
July 2022 – $237.83
August 2022 – $235.78
decreased by 1%
Sale to List Price Ratio
July 2022 – 99.69%
August 2022 – 100.68%
increased by 1%
Number of Sold Listings
July 2022 – 33
August 2022 – 26
decreased by 21%
Months Supply of Inventory
July 2022 – 1.97
August 2022 – 2.04
increased by 4%
Mortgage Rate
July 2022 – 5.92%
August 2022 – 5.57%
6% increased
Top 10 Sales
- $653000 111 Terrie Marie Fall River, MA
- $530000 1355 Newhall St. Fall River, MA
- $510000 137 Ridgecrest Rd Fall River, MA
- $510000 35 Bailey St. Fall River, MA
- $500000 944 Norman St Fall River, MA
- $460000 1441 Stafford Road Fall River, MA
- $449000 215 Lynwood St Fall River, MA
- $425000 200 Titus Fall River, MA
- $411000 451 London Street Fall River, MA
- $380000 700 Shore Drive #706 Fall River, MA
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