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Welcome to The Griffin Real Estate Market Update, I’m Danny Griffin.
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 Q3 2023 vs Q3 2022:
The Number of SOLD listings decreased by 2% to 431 properties with a top sale of $18.2 million at 430 Stuart #28BCDE in Boston.
The Average Sales Price increased by 42% to $1.98 million and the Average Price Per Square Foot increased by 22% to $1,332 per square foot.
The inventory of properties available for sale as measured in months supply increased by 25% to 4.58 months worth of properties for sale.
The average 30-year fixed mortgage rate increased 12% with an average rate of 7.55% according to Bank Rate.com
Insight: Ultra luxury continues to lead the market skewing the averages higher yet Bsoton’s inventory remains high offering plenty of choices.
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
Q3 2022 – $1388718.58
Q3 2023 – $1978008.6
increased by 42%
Average Days On Market
Q3 2022 – 43
Q3 2023 – 47
increased by 9%
Average Sale Price Per Square Foot
Q3 2022 – $1091.03
Q3 2023 – $1332.2
increased by 22%
Median Sales Price
Q3 2022 – $1007050
Q3 2023 – $1267500
increased by 26%
Number of Sold Listings
Q3 2022 – 440
Q3 2023 – 431
decreased by 2%
Months Supply of Inventory
Q3 2022 – 3.67
Q3 2023 – 4.58
increased by 25%
Mortgage Rate
Q3 2022 – 7.55%
Q3 2023 – 6.73%
12% increased
Top 10 Sales
- $18200000 430 Stuart #28BCDE Boston, MA
- $15000000 430 Stuart #33C Boston, MA
- $13250000 430 Stuart #PH34B Boston, MA
- $11950000 240 Devonshire Street #PH 2A Boston, MA
- $10195000 430 Stuart #31BC Boston, MA
- $9520000 430 Stuart #29AG Boston, MA
- $9350000 1 Dalton St #3801 Boston, MA
- $8980000 430 Stuart #31FG Boston, MA
- $8800000 220 Boylston St #1220 Boston, MA
- $8595000 430 Stuart #30FG Boston, MA
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