Brookline 2 bed condos revisited

Real Estate Broker/Owner with Spotlight Realty

on June 16th I wrote this superbly excellent entry on brookline 2 bed condos

So compared to today:

There are currently 132 two bed condos on the market, down from 152.  Prices are ranging from $229,900 to $2.3 million (the same $2.3 million has not moved on price).

The months supply is suprisingly low at 3.47 MS with 38 units having been sold in the last month.  Average marketing time for sold units is 77.5 days, slightly up from 72.   Average list price is $528,532 , actually up from $485,019.  Average sale price is $519,182 up from $470,790.  And even the difference between list price and sale price has shrunk to $9350 below asking from $14229 below asking 3 months ago.

Now these numbers are where they are because there are at least 3 different 15+ unit luxury buildings currently on the market:

323 Boylston St - also known as 323 at the <a href="">cypress lofts </a> - currently selling at "preconstruction prices" 45 units total - with 2 beds selling from $599k - $699k .  This one looks like it's skewing my numbers even more with 5 on the market and 11 sold in the last month.

1600 Beacon St - Washington on the Square - 125 units - 2 beds priced from $410k - $675k

10 Vernon - The Vernon  15 units - 2 beds priced from $675k - $1.15 Million

So yes we can argue that the numbers above are somewhat artificial because we're looking at averages, where these 3 buildings are somewhat flooding the market with more luxury condos.  And of course the sales price is going to be closer to asking when you're dealing with such a large amount of similar properties.  But at the same time, people are still buying them. And buying them at higher prices than we saw 3 months ago.


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Jon Ernest

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