Q3 2023 Market Insights (Boston)

Market Insights 2 0 2 3 T H I RD Q UA RT ER | B OST O N

Feat ured List ing: 50 0 Atlantic Avenue, PH 20 K Waterfront

State of the Market The story of the third quarter real estate market could be boiled down to one important factor: low single family inventory. This is a continuation of the market shift that began in mid-2022, when mortgage interest rates began to rise and sellers put their planned moves on hold. Therefore, suburban single family homes are still selling quickly and often for more than the asking price.

Lower priced condominiums have a strong buyer pool, as do the ultra luxury units and single family homes in desirable areas of the cities. In many cases long-term rentals (12 months) have become quite competitive, with multiple renters bidding on the same unit.

Properties that have recent renovations are prized compared to those that don?t.

So which micro-markets are not moving as quickly? Inventory has continued to grow in some of the more established, larger, condominium buildings in Boston. Homes that were not recently updated are realizing less value, as renovation projects are costly and time-consuming ? largely because there are fewer available contractors than in the past.

The good news is that interest rates have stabilized and buyers are very active in the marketplace. There are some discussions happening about potential tools to help buyers, including assumable mortgages. Some sellers and buyers are taking advantage of rate buy-downs. In many cases, accepted offers include contingencies ? buyer protections that are typically seen in ?normal market cycles?.

The takeaway is that homeowners who are able to sell can take advantage of a low inventory environment and capitalize on their home as an investment. In some counties, single family inventory is down as much as 34%, year-over-year. Many who have second homes are moving into those and selling their primary home for a significant profit.

If you are considering selling, buying, or renting real estate, we can advise you on where and how to make a move. Whether that is down the street or around the globe, our agents can help. Please contact us for more information.

Colleen Barry, CEO Gibson Sotheby's International Realty

Nicole Rideout Hart wick, CSO Gibson Sotheby's International Realty

Back Bay S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 2 (-50 % YOY) Q3 2022 4 M ED I A N DAYS O N M A RK ET Q3 20 23 33 Q3 2022 0 M ED I A N L I ST P RI C E Q3 20 23 $ 5,0 0 0,0 0 0 Q3 2022 0 SOL D L I ST I N GS Q3 20 23 1 Q3 2022 0

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

126 Marlborough St reet , Back Bay Source: MLSpin.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

1 Dalt on St reet , Unit 430 5, Back Bay Source: MLSpin.

Back Bay CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 134 (+11% YOY) Q3 2022 121 M ED I A N DAYS O N M A RK ET Q3 20 23 22 (-37% YOY) Q3 2022 35 M ED I A N SA L E P RI C E Q3 20 23 $ 1,70 0,0 0 0 (+44% YOY) Q3 2022 $1,185,000 SOL D L I ST I N GS Q3 20 23 111 (+34% YOY) Q3 2022 83

Beacon Hill S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 14 (+250 % YOY) Q3 2022 4 M ED I A N DAYS O N M A RK ET Q3 20 23 19 (-71% YOY) Q3 2022 66 M ED I A N SA L E P RI C E Q3 20 23 $ 6,170,0 0 0 (+60 % YOY) Q3 2022 $3,850,000 SOL D L I ST I N GS Q3 20 23 3 (-70 % YOY) Q3 2022 10

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

92 Mount Vernon St reet , Beacon Hill Source: MLSpin.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

32 River St reet , Beacon Hill Source: MLSpin.

Beacon Hill CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 38 (-30 % YOY) Q3 2022 54 M ED I A N DAYS O N M A RK ET Q3 20 23 28 (-7% YOY) Q3 2022 30 M ED I A N SA L E P RI C E Q3 20 23 $ 1,162,50 0 (+22% YOY) Q3 2022 $952,000 SOL D L I ST I N GS Q3 20 23 32 (+7% YOY) Q3 2022 30

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Charlestown S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 10 (-38% YOY) Q3 2022 16 M ED I A N DAYS O N M A RK ET Q3 20 23 17 (-6% YOY) Q3 2022 18 M ED I A N SA L E P RI C E Q3 20 23 $ 1,468,50 0 (-6% YOY) Q3 2022 $1,560,000 SOL D L I ST I N GS Q3 20 23 12 (-29% YOY) Q3 2022 17

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

20 Monument Square, Charlest own Source: MLSpin.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

37-38 Monument Square, Unit 1, Charlest own Source: MLSpin.

Charlestown CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 42 (-33% YOY) Q3 2022 63 M ED I A N DAYS O N M A RK ET Q3 20 23 16 (-20 % YOY) Q3 2022 20 M ED I A N SA L E P RI C E Q3 20 23 $ 890,0 0 0 (-2% YOY) Q3 2022 $906,250 SOL D L I ST I N GS Q3 20 23 29 (-46% YOY) Q3 2022 54

Dorchester S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 18 (-10 % YOY) Q3 2022 20 M ED I A N DAYS O N M A RK ET Q3 20 23 25 (-24% YOY) Q3 2022 33 M ED I A N SA L E P RI C E Q3 20 23 $752,50 0 (-4% YOY) Q3 2022 $780,000 SOL D L I ST I N GS Q3 20 23 14 (-36% YOY) Q3 2022 22

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

147 Grampian Way, Unit 5, Dorchest er Source: MLSpin.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

16 E Cot t age St reet , Unit 3, Dorchest er Source: MLSpin.

Dorchester CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 71 (+25% YOY) Q3 2022 57 M ED I A N DAYS O N M A RK ET Q3 20 23 23 (0 % YOY) Q3 2022 23 M ED I A N SA L E P RI C E Q3 20 23 $ 555,0 0 0 (+2% YOY) Q3 2022 $545,000 SOL D L I ST I N GS Q3 20 23 34 (-21% YOY) Q3 2022 43

East Boston S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 1 (-75% YOY) Q3 2022 4 M ED I A N DAYS O N M A RK ET Q3 20 23 0 (-10 0 % YOY) Q3 2022 57 M ED I A N SA L E P RI C E Q3 20 23 $ 0 (-10 0 % YOY) Q3 2022 $636,000 SOL D L I ST I N GS Q3 20 23 0 (-10 0 % YOY) Q3 2022 4

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

121 Havre St reet , Unit 1, East Bost on Source: MLSpin.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

121 Havre St reet , Pent house, East Bost on Source: MLSpin.

East Boston CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 45 (-17% YOY) Q3 2022 54 M ED I A N DAYS O N M A RK ET Q3 20 23 22 (-19% YOY) Q3 2022 27 M ED I A N SA L E P RI C E Q3 20 23 $ 620,0 0 0 (+0.2% YOY) Q3 2022 $619,000 SOL D L I ST I N GS Q3 20 23 32 (+10 % YOY) Q3 2022 29

Midtown CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 60 (+28% YOY) Q3 2022 47 M ED I A N DAYS O N M A RK ET Q3 20 23 31 (-48% YOY) Q3 2022 60 M ED I A N SA L E P RI C E Q3 20 23 $ 1,725,0 0 0 (+66% YOY) Q3 2022 $1,040,000 SOL D L I ST I N GS Q3 20 23 33 (+154% YOY) Q3 2022 13

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

580 Washingt on St reet , Unit 40 8, Midt own Source: MLSpin.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

1 Belgravia Place, Unit 6, Nort h End Source: MLSpin.

North End CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 26 (+18% YOY) Q3 2022 22 M ED I A N DAYS O N M A RK ET Q3 20 23 34 (-24% YOY) Q3 2022 45 M ED I A N SA L E P RI C E Q3 20 23 $ 665,0 0 0 (-24% YOY) Q3 2022 $875,000 SOL D L I ST I N GS Q3 20 23 15 (-44% YOY) Q3 2022 27

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Seaport CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 43 (-16% YOY) Q3 2022 51 M ED I A N DAYS O N M A RK ET Q3 20 23 98 (+92% YOY) Q3 2022 51 M ED I A N SA L E P RI C E Q3 20 23 $ 2,937,50 0 (+165% YOY) Q3 2022 $1,109,500 SOL D L I ST I N GS Q3 20 23 12 (-14% YOY) Q3 2022 14

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

30 0 Pier 4 Boulevard, Unit 4A, Seaport Source: MLSpin.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

141 Dorchest er Avenue, Unit 214, Sout h Bost on Source: MLSpin.

South Boston S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 12 (-8% YOY) Q3 2022 13 M ED I A N DAYS O N M A RK ET Q3 20 23 18 (-18% YOY) Q3 2022 22 M ED I A N SA L E P RI C E Q3 20 23 $ 1,0 50,0 0 0 (-7% YOY) Q3 2022 $1,125,000 SOL D L I ST I N GS Q3 20 23 9 (-25% YOY) Q3 2022 12

South Boston CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 131 (+2% YOY) Q3 2022 128 M ED I A N DAYS O N M A RK ET Q3 20 23 24 (-31% YOY) Q3 2022 35 M ED I A N SA L E P RI C E Q3 20 23 $ 1,0 24,0 0 0 (+15% YOY) Q3 2022 $892,000 SOL D L I ST I N GS Q3 20 23 92 (+10 % YOY) Q3 2022 84

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

14 West Broadway St reet , Unit 70 5, Sout h Bost on Source: MLSpin.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

32 Traveler St reet , Unit 710, Sout h End Source: MLSpin.

South End S I N G L E FA M I LY L I S T I N GS TA K EN Q3 20 23 6 (-14% YOY) Q3 2022 7 M ED I A N DAYS O N M A RK ET Q3 20 23 46 (-46% YOY) Q3 2022 85 M ED I A N SA L E P RI C E Q3 20 23 $ 4,550,0 0 0 (+55% YOY) Q3 2022 $2,940,000 SOL D L I ST I N GS Q3 20 23 8 (+14% YOY) Q3 2022 7

South End CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 125 (-16% YOY) Q3 2022 149 M ED I A N DAYS O N M A RK ET Q3 20 23 20 (-17% YOY) Q3 2022 24 M ED I A N SA L E P RI C E Q3 20 23 $ 1,227,50 0 (+12% YOY) Q3 2022 $1,099,500 SOL D L I ST I N GS Q3 20 23 138 (-1% YOY) Q3 2022 140

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

80 Worcest er St reet , Unit PH, Sout h End Source: MLSpin.

2 0 2 3 | 3 RD QUA RT ER M A RK ET I N S I GH T S

55 Commercial Wharf, Unit PH8, Wat erfront Source: MLSpin.

Waterfront CON DOM IN IUM S L I S T I N GS TA K EN Q3 20 23 39 (-9% YOY) Q3 2022 43 M ED I A N DAYS O N M A RK ET Q3 20 23 72 (+71% YOY) Q3 2022 42 M ED I A N SA L E P RI C E Q3 20 23 $ 1,235,0 0 0 (+8% YOY) Q3 2022 $1,143,750 SOL D L I ST I N GS Q3 20 23 24 (-20 % YOY) Q3 2022 30

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N OT H I N G C O M PA RES T O W H AT ' S N EX T

© 2023 Sotheby?s International Realty. All Rights Reserved. Sotheby?s International Realty® is a registered trademark and used with permission. Each Sotheby?s International Realty office is independently owned and operated, except those operated by Sotheby?s International Realty, Inc. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. All offerings are subject to errors, omissions, changes including price or withdrawal without notice. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Equal Housing Opportunity.