Is Back Bay, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Back Bay was a Seller's Market.
Housing Prices in Back Bay, MA
How much do homes in Back Bay, MA cost?
Median Sold Price
$1,544,166
$1,308/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Back Bay was $1,544,166 in March 2024, up 10.3% from last year, and the median price per square foot was $1,308.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $715K | $800K | +11.9% |
2 Bedrooms | $1.6M | $1.6M | +0.7% |
3 Bedrooms | $3.1M | $3.6M | +17.2% |
4 Bedrooms | $6.1M | $9.6M | +57.0% |
5+ Bedrooms | $4.3M | $3.9M | -11.1% |
Summary: Back Bay housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.9%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 57%, and 5+ bedroom homes decreased by 11.1%.
Median Sold Price Compared To Nearby Neighborhoods
Back Bay | $1.4M | $1.5M | +10.3% |
Ellis | $1.3M | $1.3M | -0.5% |
Commonwealth Ave. | $1.7M | $1.2M | -24.3% |
Housing Supply in Back Bay, MA
How many homes are available in Back Bay, MA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
114 | 152 | +33.3% |
Summary: The Back Bay real estate market had 152 homes for sale in March 2024, a 33.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 21 | 33 | +57.1% |
2 Bedrooms | 36 | 57 | +58.3% |
3 Bedrooms | 33 | 36 | +9.1% |
4 Bedrooms | 13 | 15 | +15.4% |
5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The Back Bay housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 57.1%, 2 bedroom homes increased by 58.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 11 | +83.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Back Bay in March 2024, up by 83.3% month-over-month. Of the 11 sold homes, 64% were sold under asking, 18% were sold at asking, and 18% were sold over asking.
Days on Market for Back Bay, MA
How long does it take to sell a home in Back Bay, MA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
55 Days | 37 Days | -32.4% |
Summary: Homes in Back Bay had an average of 37 days on market in Mar 2024, down by 32.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in Back Bay; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.