Is Back Bay, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Back Bay was a Neutral Market.
Housing Prices in Back Bay, MA
How much do homes in Back Bay, MA cost?
Median Sold Price
$1,461,500
$1,304/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Back Bay was $1,461,500 in April 2024, down 1.4% from last year, and the median price per square foot was $1,304.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $720.5K | $800K | +11.0% |
2 Bedrooms | $1.5M | $1.7M | +7.1% |
3 Bedrooms | $3.0M | $3.8M | +26.9% |
4 Bedrooms | $5.7M | $13.4M | +136.2% |
5+ Bedrooms | $4.3M | $3.9M | -11.1% |
Summary: Back Bay housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 26.9%, 4 bedroom homes increased by 136.2%, and 5+ bedroom homes decreased by 11.1%.
Median Sold Price Compared To Nearby Neighborhoods
Back Bay | $1.4M | $1.4M | -1.4% |
Ellis | $1.3M | $1.2M | -5.6% |
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
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
148 | 177 | +19.6% |
Summary: The Back Bay real estate market had 177 homes for sale in April 2024, a 19.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 31 | 39 | +25.8% |
2 Bedrooms | 55 | 73 | +32.7% |
3 Bedrooms | 37 | 40 | +8.1% |
4 Bedrooms | 15 | 14 | -6.7% |
5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Back Bay housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25.8%, 2 bedroom homes increased by 32.7%, 3 bedroom homes increased by 8.1%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 24 | +100.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Back Bay in April 2024, up by 100.0% month-over-month. Of the 24 sold homes, 54% were sold under asking, 13% were sold at asking, and 33% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
88 Days | 39 Days | -55.4% |
Summary: Homes in Back Bay had an average of 39 days on market in Apr 2024, down by 55.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 24 homes were sold in Back Bay; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.