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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 August 2023 vs July 2023:
The Number of SOLD listings decreased by 26% to 136 properties with a top sale of $9.52 million at 430 Stuart #29AG in Boston.
The Average Sales Price decreased 15% to $1.79 million and the Average Price Per Square Foot decreased by 6% to $1,294 per square foot.
The inventory of properties available for sale as measured in months supply decreased by 10% to 4.41 months worth of properties for sale.
The average 30-year fixed mortgage rate increased 5% with an average rate of 7.32% according to Bank Rate.com
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market Update.
Boston
Average Sales Price
July 2023 – $2111603.23
August 2023 – $1791438.24
decreased by 15%
Average Days On Market
July 2023 – 42
August 2023 – 52
increased by 24%
Average Sale Price Per Square Foot
July 2023 – $1374.7357016188
August 2023 – $1294
decreased by 6%
Median Sales Price
July 2023 – $1490000
August 2023 – $1087500
decreased by 27%
Number of Sold Listings
July 2023 – 185
August 2023 – 136
decreased by 26%
Months Supply of Inventory
July 2023 – 4.91
August 2023 – 4.41
decreased by 10%
Mortgage Rate
July 2023 – 7.32%
August 2023 – 6.96%
5% increased
Top 10 Sales
- $9520000 430 Stuart #29AG Boston, MA
- $8595000 430 Stuart #30FG Boston, MA
- $7800000 1 Dalton Street #4701 Boston, MA
- $7345000 81 Beacon Street #PH Boston, MA
- $6675000 240 Devonshire Street #5601 Boston, MA
- $6500000 1 Huntington Avenue #PH1802 Boston, MA
- $6350000 1 Dalton Street #4203 Boston, MA
- $6170000 17 W Cedar St Boston, MA
- $5600000 1 Dalton St #3703 Boston, MA
- $5450000 137 West Newton Street Boston, MA
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