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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 2022 vs 2023:
The Number of SOLD listings increased by 2% to 331 properties with a top sale of $23 million at 776 Boylston Street #PH2E in Back Bay.
The Average Sales Price increased by 35% to $2.64 million and the Average Price Per Square Foot increased by 15% to $1,561 per square foot.
The inventory of properties available for sale as measured in months supply decreased by 5% to 2.51 months worth of properties for sale.
The average 30-year fixed mortgage rate increased by 2% to an average rate of 6.90% 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
2022 – $1951510.2
2023 – $2640173.04
increased by 35%
Average Days On Market
2022 – 57
2023 – 55
decreased by 4%
Average Sale Price Per Square Foot
2022 – $1351.83671478004
2023 – $1560.74397605583
increased by 15%
Median Sales Price
2022 – $1349000
2023 – $1490000
increased by 10%
Number of Sold Listings
2022 – 325
2023 – 331
increased by 2%
Months Supply of Inventory
2022 – 2.63
2023 – 2.51
decreased by 5%
Mortgage Rate
2022 – 6.90%
2023 – 6.74%
2% increased
Top 10 Sales
- $23000000 776 Boylston Street #PH2E Back Bay, MA
- $18200000 430 Stuart #28BCDE Back Bay, MA
- $17250000 150 Beacon St #PH Back Bay, MA
- $16730000 430 Stuart #PH34C Back Bay, MA
- $15000000 430 Stuart #33C Back Bay, MA
- $14400000 122 Commonwealth Avenue #PH Back Bay, MA
- $14400000 122 Commonwealth Avenue #PH Back Bay, MA
- $14125000 776 Boylston Street #PH2B Back Bay, MA
- $13800000 1 Dalton St #5502 Back Bay, MA
- $13250000 430 Stuart #PH35B Back Bay, MA
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