Today we're looking again at the condo market in Brookline MA.
As of today 8-11-06 there are a total of 301 condos for sale in Brookline MA and 72 have sold in the last month. 4.18 months supply.
So far this is an improvement from what I've been seeing for most of this year. However this is also somewhat expected as this represents one of the busiest times of the year around here. Even still, this does not indicate any sort of bubble bursting. Also keep in mind this has nothing to do with the lack of a fed rate hike recently as these numbers were set into motion before the news came out.
Taking a look at the sold statistics, there were 72 units sold in the last month, however I cut that down to 66 because I had to take out the units at 1600 Beacon st. This building has a nasty habit of the asking price not including parking, and the sales prices including the parking space (if the buyer wants it) for an additional $45k. Yes $45,000 for one garage parking space, welcome to Boston. I believe the difference greatly skews the ask price vs. sales price information.
Condominium Listings: 66 Average List Price: $502,227 Average Sale Price: $488,392 Average Market Time: 96.65
So units are still sitting for a long time, and getting about $14,000 below asking.