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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 2023 versus Q1 2022:
The Number of SOLD listings decreased by 43% to 208 properties with a top sale of $23 million at 776 Boylston Street #PH2E in Boston.
The Average Sales Price increased by 18% to $1.95 million moving the Average Price Per Square Foot up to $1201 per square foot.
The inventory of properties available for sale as measured in months supply increased by 115% to 4.97 months worth of properties for
sale.
The average 30 year fixed mortgage rate increased to 4.73% 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
Q1 2022 – $1649766.17
Q1 2023 – $1954184.37
increased by 18%
Average Days On Market
Q1 2022 – 64
Q1 2023 – 61
decreased by 5%
Average Sale Price Per Square Foot
Q1 2022 – $1165.27
Q1 2023 – $1200.82
increased by 3%
Sale to List Price Ratio
Q1 2022 – 98.60%
Q1 2023 – 97.47%
decreased by 1%
Number of Sold Listings
Q1 2022 – 365
Q1 2023 – 208
decreased by 43%
Months Supply of Inventory
Q1 2022 – 2.31
Q1 2023 – 4.97
increased by 115%
Mortgage Rate
Q1 2022 – 6.48%
Q1 2023 – 4.73%
37% increased
Top 10 Sales
- $23000000 776 Boylston Street #PH2E Boston, MA
- $14400000 122 Commonwealth Avenue #PH Boston, MA
- $13500000 50 Liberty Drive #PH1B Boston, MA
- $12500000 220 Boylston #1209 Boston, MA
- $9750000 109 Commonwealth Avenue #7 Boston, MA
- $9700000 776 Boylston St #W11A Boston, MA
- $8400000 305 Commonwealth Avenue #2 Boston, MA
- $7950000 22 W Cedar St Boston, MA
- $7700000 212 Commonwealth Avenue #2 Boston, MA
- $6745000 161 West Canton Street Boston, MA
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