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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 Boston residential properties, here’s what happened in Q1 2022 versus Q1 2021:
The Number of SOLD listings decreased by 10% to 341 properties with a top sale of $13.35 million at 776 Boylston Street #E12B in Boston.
The Average Sales Price increased by 17% to $1.68 million moving the Average Price Per Square Foot up to $1166 per square foot.
The inventory of properties available for sale as measured in months supply decreased by 56% to 2.45 months worth of properties for sale.
The average 30 year fixed mortgage rate increased by 34% to 3.33% 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 2021 – $1433907.77
Q1 2022 – $1675364.93
increased by 17%
Average Days On Market
Q1 2021 – 83
Q1 2022 – 65
decreased by 22%
Average Sale Price Per Square Foot
Q1 2021 – $1065.1
Q1 2022 – $1165.78
increased by 9%
Sale to List Price Ratio
Q1 2021 – 97.03%
Q1 2022 – 98.33%
increased by 1%
Number of Sold Listings
Q1 2021 – 378
Q1 2022 – 341
decreased by 10%
Months Supply of Inventory
Q1 2021 – 5.62
Q1 2022 – 2.45
decreased by 56%
Mortgage Rate
Q1 2021 – 4.45%
Q1 2022 – 3.33%
34% increased by 34%
Top 10 Sales
- $13350000 776 Boylston Street #E12B Boston, MA
- $11150000 29 Commonwealth Avenue #2 Boston, MA
- $10350000 29 Commonwealth Avenue #6 Boston, MA
- $9950000 29 Commonwealth Avenue #5 Boston, MA
- $9500000 110 Sudbury Street #4703-4 Boston, MA
- $9240000 29 Commonwealth Avenue #4 Boston, MA
- $7500000 257 Commonwealth #3 Boston, MA
- $6125000 97 Pinckney Street Boston, MA
- $5870000 4-5 Arlington #3 Boston, MA
- $5500000 1 Franklin St #5103 Boston, MA
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