» Real Estate Market Update | Boston | 2022 2nd Quarter Vs 2021 2nd Quarter | Luxury Real Estate

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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 Q2 2022 versus Q2 2021:

The Number of SOLD listings decreased by 12% to 641 properties with a top sale of $14.8 million at 17 Louisburg Square in Boston.

The Average Sales Price increased by 12% to $1.6 million moving the Average Price Per Square Foot up to $1158 per square foot.

The inventory of properties available for sale as measured in months supply decreased by 20% to 4.11 months worth of properties for sale.

The average 30 year fixed mortgage rate increased to 3.16% according to Bank Rate.com.

Boston

Average Sales Price
Q2 2021 – $1422252.86
Q2 2022 – $1599703.5
increased by 12%

Average Days On Market
Q2 2021 – 54
Q2 2022 – 37
decreased by 31%

Average Sale Price Per Square Foot
Q2 2021 – $1090.69
Q2 2022 – $1158.09
increased by 6%

Sale to List Price Ratio
Q2 2021 – 99.03%
Q2 2022 – 100.60%
increased by 2%

Number of Sold Listings
Q2 2021 – 725
Q2 2022 – 641
decreased by 12%

Months Supply of Inventory
Q2 2021 – 5.11
Q2 2022 – 4.11
decreased by 20%

Mortgage Rate
Q2 2021 – 5.85%
Q2 2022 – 3.16%
85% increased

Top 10 Sales

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Luxury Real Estate | Griffin Realty Group