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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 October 2023 versus November 2023:
The Number of SOLD listings decreased by 23% to 82 properties with a top sale of $16.73 million at 430 Stuart #PH34C in Boston.
The Average Sales Price decreased 12% to $1.9 million and the Average Price Per Square Foot increased by 1% to $1,292 per square foot.
The inventory of properties available for sale as measured in months supply decreased by 19% to 3.47 months worth of properties for sale.
The average 30-year fixed mortgage rate decreased 7% with an average rate of 7.41% 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
October 2023 – $2158242.41
November 2023 – $1898198
decreased by 12%
Average Days On Market
October 2023 – 46
November 2023 – 41
decreased by 11%
Average Sale Price Per Square Foot
October 2023 – $1282.26
November 2023 – $1291.53
increased by 1%
Median Sales Price
October 2023 – $1185000
November 2023 – $1257500
increased by 6%
Number of Sold Listings
October 2023 – 106
November 2023 – 82
decreased by 23%
Months Supply of Inventory
October 2023 – 4.26
November 2023 – 3.47
decreased by 19%
Mortgage Rate
October 2023 – 7.41%
November 2023 – 8.01%
7% decreased
Top 10 Sales
- $16730000 430 Stuart #PH34C Boston, MA
- $14125000 776 Boylston Street #PH2B Boston, MA
- $11275000 9 Arlington St #4 Boston, MA
- $7536000 240 Devonshire Street #6006 Boston, MA
- $3950000 20 Monument Square Boston, MA
- $3700000 19 Bradford St Boston, MA
- $3600000 28 Mount Vernon Street #1 Boston, MA
- $3250000 566 Columbus Ave #611 Boston, MA
- $2830000 28 Rutland Sq #1 Boston, MA
- $2365000 195 Marlborough Street #1 Boston, MA
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