$3,295,000
1,860 SqFt
3 Beds
•2 Full Baths, 1 Partial
#73314261, Julie Harrison, Listing Office: Gibson Sotheby's International Realty
Is Back Bay, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Back Bay was a Seller's Market.
Key Takeaway
Back Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Back Bay, MA
How much do homes in Back Bay, MA cost?
Median Sold Price
$1,438,000
$1,310/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$64,000(-4.3%)
Key Takeaway
Homes in Back Bay have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in Back Bay was $1,438,000 in October 2024, down 4.3% from last year, and the median price per square foot was $1,310.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $770K | $819K | +6.4% |
| 2 Bedrooms | $1.6M | $1.5M | -4.1% |
| 3 Bedrooms | $3.3M | $3.5M | +7.1% |
| 4 Bedrooms | $7.5M | $6.7M | -10.1% |
| 5+ Bedrooms | $5.1M | $5.7M | +11.6% |
Summary: Back Bay housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 10.1%, and 5+ bedroom homes increased by 11.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Ellis | $1.2M | $1.3M | +1.8% |
| Back Bay | $1.5M | $1.4M | -4.3% |
| Commonwealth Ave. | $1.4M | $1.2M | -12.1% |
| Stuart Street District | $4.0M | $1.9M | -53.4% |
Housing Supply in Back Bay, MA
How many homes are available in Back Bay, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 156 | 166 | +6.4% |
Summary: The Back Bay real estate market had 166 homes for sale in October 2024, a 6.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 38 | 38 | 0.0% |
| 2 Bedrooms | 59 | 57 | -3.4% |
| 3 Bedrooms | 37 | 44 | +18.9% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The Back Bay housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 18.9%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Back Bay, you may be able to get a good deal. 70.6% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Back Bay in October 2024, the same as the previous month. Of the 17 sold homes, 71% were sold under asking, 6% were sold at asking, and 24% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 39 Days | 69 Days | +79.3% |
Summary: Homes in Back Bay had an average of 69 days on market in Oct 2024, up by 79.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Back Bay are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in Back Bay; 47% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
