Third Quarter 2019 Boston's Back Bay Market Update

Things in Boston are finally cooling off a little! Let me emphasize a little. I’ll break it down for you.

Inventory - 4.34 months

Inventory is up from Q3 last year by 22% to 4.34 months. That means that at the current rate of sales, all the homes on the market would sell in just under four and a half months.

Total Sales - 243

The number of sales are also down from this time last year. This was actually the slowest quarter in Back Bay since before 2015! Just barely though. Down fewer than 5% over the year.

Average Days to Offer - 44

That’s down 8% from last year.

Average Sale Price - $1.68M

This is another figure that’s down from this time last year. The highest average sale price was Q3 2018 at $1.8M.

Average List/Sale Price per Square Foot - List $1,264/Sale $1245

This is the highest it’s ever been. Five dollars more than Q3 2018. However, the average sale price per square foot went down. Barely, .48% or $6.

As always, please reach out with any questions, comments or if you or anyone you know is looking for an agent! Feel free to call/text at 617 528 8461 or email willy.charleton@nemoves.com