Boston's Back Bay, Massachusetts

Back Bay

Market Insights

• Back Bay saw a 13% decrease in homes transacted while median prices rose 7% year-over-year, nearly matching pre-pandemic levels.
• A record for median price per square foot was set at $1,283, a 3% increase from the prior record set in 2019. Buyers faced an increasingly competitive market with homes selling 24% faster and for 96% of their original asking price, a one-point increase from the prior year.
• The largest sale was a $13,350,000 unit at the Mandarin Oriental, a nearly 4,000-square-foot two-bedroom unit with panoramic cityscapes framed from the floor-to-ceiling windows. The interior has been outfitted with the finest luxuries.