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

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Real Estate Market Update | Back Bay | 2024 1st Quarter Vs 2023 1st Quarter

Real Estate Market Update | Back Bay | 2024 1st Quarter Vs 2023 1st Quarter
April 6, 2024 By: Category: Real Estate Market Update

Real Estate Market Update | Back Bay | 2024 1st Quarter Vs 2023 1st Quarter

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 Q1 2023 vs Q1 2024:

The Number of SOLD listings decreased by 13% to 40 properties with a top sale of $12.5 million at 776 Boylston St #PH1F in Back Bay.

The Average Sales Price decreased by 17% to $2.9 million and the Average Price Per Square Foot increased by 1% to $1,578 per square foot.

The inventory of properties available for sale as measured in months supply remained the same at 4.68 months worth of properties for sale.

The average 30-year fixed mortgage rate increased by 8% to an average rate of 7.01% 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
Q1 2023 – $3488054.35
Q1 2024 – $2896937.48
decreased by 17%

Average Days On Market
Q1 2023 – 73
Q1 2024 – 75
increased by 3%

Average Sale Price Per Square Foot
Q1 2023 – $1556.621651735
Q1 2024 – $1577.94612031971
increased by 1%

Median Sales Price
Q1 2023 – $1745750
Q1 2024 – $2290000
increased by 31%

Number of Sold Listings
Q1 2023 – 46
Q1 2024 – 40
decreased by 13%

Months Supply of Inventory
Q1 2023 – 4.68
Q1 2024 – 4.68
had no change with

Mortgage Rate
Q1 2023 – 7.01%
Q1 2024 – 6.48%
8% increased

Top 10 Sales

  1. $12500000 776 Boylston St #PH1F Back Bay, MA
  2. $9250000 400 Stuart Street #PH2 Back Bay, MA
  3. $7800000 1 Dalton Street #4601 Back Bay, MA
  4. $5300000 128 Beacon #E Back Bay, MA
  5. $4900000 430 Stuart #26A Back Bay, MA
  6. $4850000 776 Boylston Street #E9D Back Bay, MA
  7. $4490000 430 Stuart #29D Back Bay, MA
  8. $4200000 423 Beacon Street #PH Back Bay, MA
  9. $4000000 110 Stuart Street #PH04 Back Bay, MA
  10. $3999999 300 Boylston St #601 Back Bay, MA

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