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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 Back Bay residential
properties, here’s what happened in Q1 2023 versus Q1 2022:
The Number of SOLD listings decreased by 43% to 43 properties
with a top sale of $23 million at 776 Boylston Street #PH2E in
Boston.
The Average Sales Price increased by 44% to $3.62 million moving the Average Price Per Square Foot up to $1567 per square foot.
The inventory of properties available for sale as measured in months supply increased by 115% to 4.97 months worth of properties for
sale.
The average 30 year fixed mortgage rate increased to 4.73% 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.
Back Bay
Average Sales Price
Q1 2022 – $2521369.74
Q1 2023 – $3623906.98
increased by 44%
Average Days On Market
Q1 2022 – 88
Q1 2023 – 75
decreased by 15%
Average Sale Price Per Square Foot
Q1 2022 – $1419.35
Q1 2023 – $1566.65
increased by 10%
Sale to List Price Ratio
Q1 2022 – 97.29%
Q1 2023 – 95.50%
decreased by 2%
Number of Sold Listings
Q1 2022 – 76
Q1 2023 – 43
decreased by 43%
Months Supply of Inventory
Q1 2022 – 2.31
Q1 2023 – 4.97
increased by 115%
Mortgage Rate
Q1 2022 – 6.48%
Q1 2023 – 4.73%
37% increased
Top 10 Sales
- $23000000 776 Boylston Street #PH2E Boston, MA
- $14400000 122 Commonwealth Avenue #PH Boston, MA
- $12500000 220 Boylston #1209 Boston, MA
- $9750000 109 Commonwealth Avenue #7 Boston, MA
- $9700000 776 Boylston St #W11A Boston, MA
- $8400000 305 Commonwealth Avenue #2 Boston, MA
- $7700000 212 Commonwealth Avenue #2 Boston, MA
- $6625000 433 Marlborough Street #PH Boston, MA
- $5200000 16 Exeter St #1 Boston, MA
- $5000000 1 Dalton #2603 Boston, MA
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