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Real Estate Market Update | Boston | 2024 3rd Quarter vs 2023 3rd Quarter

October 12, 2024 By: Category: Boston Luxury Real Estate, Real Estate Market Update, Uncategorized

Real Estate Market Update | Boston | 2024 3rd Quarter vs 2023 3rd Quarter

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 2024: 

The Number of SOLD listings decreased by 13% to 386 properties with a top sale of $20.3 million at 150 Seaport Blvd #19C&E in Boston.

The Average Sales Price decreased 15% to $1.64 million and the Average Price Per Square Foot decreased 10% to $1,194 per square foot.

The inventory of properties available for sale as measured in months supply increased by 40% to 6.39 months worth of properties for sale.

The average 30-year fixed mortgage rate decreased by 17% to an average rate of 6.24% according to Bank Rate.com

Boston

Average Sales Price
Q3 2023 – $1930687.6
Q3 2024 – $1646642.06
decreased by 15%

Average Days On Market
Q3 2023 – 47
Q3 2024 – 48
increased by 2%

Average Sale Price Per Square Foot
Q3 2023 – $1322.94
Q3 2024 – $1194.14177528284
decreased by 10%

Median Sales Price
Q3 2023 – $1250000
Q3 2024 – $1177500
decreased by 6%

Number of Sold Listings
Q3 2023 – 443
Q3 2024 – 386
decreased by 13%

Months Supply of Inventory
Q3 2023 – 4.55
Q3 2024 – 6.39
increased by 40%

Mortgage Rate
Q3 2023 – 6.24%
Q3 2024 – 7.55%
17% decreased

Top 10 Sales

  1. $20348000 150 Seaport Blvd #19C&E Boston, MA
  2. $11575000 240 Devonshire Street #PH1A Boston, MA
  3. $7850000 18 Commonwealth Avenue Boston, MA
  4. $7500000 1 Dalton St #U5204 Boston, MA
  5. $7200000 300 Boylston Street #704-705 Boston, MA
  6. $7050000 23 W Cedar Boston, MA
  7. $6900000 1 Dalton #3301 Boston, MA
  8. $5725000 165 West Brookline Street Boston, MA
  9. $5600000 86 A Beacon #3 Boston, MA
  10. $5500000 192 Marlborough St #2 Boston, MA

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