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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 2022 vs 2023:
The Number of SOLD listings decreased by 21% to 1408 properties with a top sale of $23 million at 776 Boylston Street #PH2E in Boston.
The Average Sales Price increased 19% to $1.84 million and the Average Price Per Square Foot increased by 9% to $1,245 per square foot.
The inventory of properties available for sale as measured in months supply decreased by 5% to 2.51 months worth of properties for sale.
The average 30-year fixed mortgage rate increased 2% with an average rate of 6.90% 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
2022 – $1538838.94
2023 – $1835944.28
increased by 19%
Average Days On Market
2022 – 47
2023 – 48
increased by 2%
Average Sale Price Per Square Foot
2022 – $1139.81
2023 – $1245.3
increased by 9%
Median Sales Price
2022 – $1057500
2023 – $1220000
increased by 15%
Number of Sold Listings
2022 – 1776
2023 – 1408
decreased by 21%
Months Supply of Inventory
2022 – 2.63
2023 – 2.51
decreased by 5%
Mortgage Rate
2022 – 6.90%
2023 – 6.74%
2% increased
Top 10 Sales
- $23000000 776 Boylston Street #PH2E Boston, MA
- $19000000 78 Beacon Street Boston, MA
- $18200000 430 Stuart #28BCDE Boston, MA
- $17250000 73 Beacon St Boston, MA
- $17250000 150 Beacon St #PH Boston, MA
- $16730000 430 Stuart #PH34C Boston, MA
- $15000000 430 Stuart #33C Boston, MA
- $14400000 122 Commonwealth Avenue #PH Boston, MA
- $14400000 122 Commonwealth Avenue #PH Boston, MA
- $14125000 776 Boylston Street #PH2B Boston, MA
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