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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 Beacon Hill residential properties, here’s what happened in 2022 versus 2021:
The Number of SOLD listings decreased by 18% to 172 properties with a top sale of $14.8 million at 17 Louisburg Square in Boston.
The Average Sales Price increased by 9% to $2.1 million moving the Average Price Per Square Foot up to $1242 per square foot.
The inventory of properties available for sale as measured in months supply increased by 44% to 2.75 months worth of properties for sale.
The average 30 year fixed mortgage rate increased to 3.27% according to Bank Rate.com.
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market Update.
Beacon Hill
Average Sales Price
2021 – $1926306.52
2022 – $2099824.36
increased by 9%
Average Days On Market
2021 – 69
2022 – 53
decreased by 23%
Average Sale Price Per Square Foot
2021 – $1220.03
2022 – $1241.5
increased by 2%
Sale to List Price Ratio
2021 – 96.85%
2022 – 97.83%
increased by 1%
Number of Sold Listings
2021 – 211
2022 – 172
decreased by 18%
Months Supply of Inventory
2021 – 1.91
2022 – 2.75
increased by 44%
Mortgage Rate
2021 – 6.74%
2022 – 3.27%
106% increased
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