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Real Estate Market Update | Boston | October 2024 Vs September 2024

Real Estate Market Update | Boston | October 2024 Vs September 2024
November 9, 2024 By: Category: Boston Lifestyle, Boston Luxury Real Estate, Real Estate Market Update

Real Estate Market Update | Boston | October 2024 Vs September 2024

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 September 2024 vs October 2024: 

The Number of SOLD listings decreased by 4% to 93 properties with a top sale of $16.5 million at 279 Marlborough St in Boston.

The Average Sales Price increased 23% to $1.7 million and the Average Price Per Square Foot increased 8% to $1,257 per square foot.

The inventory of properties available for sale as measured in months supply decreased by 2% to 6.00 months worth of properties for sale.

The average 30-year fixed mortgage rate increased by 10% to an average rate of 6.88% according to Bank Rate.com.

Boston

Average Sales Price
September 2024 – $1398372.62
October 2024 – $1716938.86
increased by 23%

Average Days On Market
September 2024 – 56
October 2024 – 61
increased by 9%

Average Sale Price Per Square Foot
September 2024 – $1166.30012700695
October 2024 – $1257.40864149551
increased by 8%

Median Sales Price
September 2024 – $1015000
October 2024 – $1199000
increased by 18%

Number of Sold Listings
September 2024 – 97
October 2024 – 93
decreased by 4%

Months Supply of Inventory
September 2024 – 6.1
October 2024 – 6
decreased by 2%

Mortgage Rate
September 2024 – 6.88%
October 2024 – 6.24%
10% increased

Top 10 Sales

  1. $16500000 279 Marlborough St Boston, MA
  2. $8400000 314 Commonwealth Ave #2 Boston, MA
  3. $4800000 220 Boylston St #1115 Boston, MA
  4. $4345074 240 Devonshire Street #5212 Boston, MA
  5. $4165000 49 Appleton St Boston, MA
  6. $3495000 4 Soley Street Boston, MA
  7. $3379840 32 Derne St #2B Boston, MA
  8. $3250000 343 Commercial St #602 Boston, MA
  9. $3080000 240 Devonshire Street #5709 Boston, MA
  10. $3055000 580 Washington St #PH2 Boston, MA

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