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(Prices and inventory current as of Nov 30, 1999)

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Real Estate Market Update | Back Bay | 2022 3rd Quarter Vs 2021 3rd Quarter

Real Estate Market Update | Back Bay | 2022 3rd Quarter Vs 2021 3rd Quarter
October 6, 2022 By: Category: Real Estate Market Update

Real Estate Market Update | Back Bay | 2022 3rd Quarter Vs 2021 3rd Quarter

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 Back Bay residential  properties, here’s what happened in Q3 2022 versus Q3 2021: 

The Number of SOLD listings decreased by 21% to 81 properties  with a top sale of $6.1 million at 128 Beacon Street #K in Boston. 

The Average Sales Price decreased by 39% to $1.48 million moving  the Average Price Per Square Foot down to $1246 per square foot. 

The inventory of properties available for sale as measured in months  supply decreased by 12% to 3.56 months worth of properties for  sale. 

The average 30 year fixed mortgage rate increased to 3.05%  according to Bank Rate.com.

Thanks for tuning in, we’ll see you in the next Griffin Real Estate  Market Update.

Back Bay

Average Sales Price
Q3 2021 – $2424194.59
Q3 2022 – $1479470.25
decreased by 39%

Average Days On Market
Q3 2021 – 61
Q3 2022 – 55
decreased by 10%

Average Sale Price Per Square Foot
Q3 2021 – $1328.94
Q3 2022 – $1246.42
decreased by 6%

Sale to List Price Ratio
Q3 2021 – 97.37%
Q3 2022 – 97.41%
had no change with

Number of Sold Listings
Q3 2021 – 103
Q3 2022 – 81
decreased by 21%

Months Supply of Inventory
Q3 2021 – 4.05
Q3 2022 – 3.56
decreased by 12%

Mortgage Rate
Q3 2021 – 6.73%
Q3 2022 – 3.05%
121% increased

Top 10 Sales

  1. $6100000 128 Beacon Street #K Boston, MA
  2. $5700000 135 Commonwealth Ave #PH7/8 Boston, MA
  3. $5200000 400 Stuart St #26A Boston, MA
  4. $3975000 166 Marlborough Street #1 Boston, MA
  5. $3490000 1 Charles Street South #PH-102 Boston, MA
  6. $3350000 400 Stuart St #19A Boston, MA
  7. $3180000 329 Commonwealth Ave #3 Boston, MA
  8. $2750000 135 Marlborough St #P Boston, MA
  9. $2575000 100 Belvidere #7D Boston, MA
  10. $2574500 188 Beacon Street #4 Boston, MA

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