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According to MLSPIN, the marketplace for Back Bay residential properties, here’s what happened in 2023 vs 2024:
The Number of SOLD listings decreased by 8% to 306 properties with a top sale of $16.5 million at 279 Marlborough St in Back Bay.
The Average Sales Price decreased by 13% to $2.28 million and the Average Price Per Square Foot decreased by 1% to $1,539 per square foot.
The inventory of properties available for sale as measured in months supply increased by 23% at 3.20 months worth of properties for sale.
The average 30-year fixed mortgage rate increased by 2% to an average rate of 7.04% 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.
Boston
Average Sales Price
2023 – $2,613,546.02
2024 – $2,278,084.97
decreased by 13%
Average Days On Market
2023 – 54
2024 – 61
increased by 13%
Average Sale Price Per Square Foot
2023 – $1560
2024 – $1538
decreased by 1%
Median Sales Price
2023 – $1,487,500
2024 – $1,500,000
increased by 1%
Number of Sold Listings
2023 – 332
2024 – 306
decreased by 8%
Months Supply of Inventory
2023 – 2.61
2024 – 3.2
increased by 23%
Mortgage Rate
2023 – 7.04%
2024 – 6.90%
2% increased
Top 10 Sales
- $16,500,000 279 Marlborough St Back Bay, MA
- $12,500,000 776 Boylston St #PH1F Back Bay, MA
- $10,400,000 430 Stuart #PH35D Back Bay, MA
- $10,200,000 222 Commonwealth Avenue #PH Back Bay, MA
- $9,250,000 400 Stuart Street #PH2 Back Bay, MA
- $8,400,000 314 Commonwealth Ave #2 Back Bay, MA
- $7,850,000 18 Commonwealth Avenue Back Bay, MA
- $7,800,000 1 Dalton Street #4601 Back Bay, MA
- $7,700,000 430 Stuart Street #30C Back Bay, MA
- $7,500,000 1 Dalton St #U5204 Back Bay, MA
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