In an effort to be knowledgeable of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, and Brighton. Below are the market statistics in Brighton, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Brighton, MA market statistics weekly on Wednesdays.
Looking at these stats, it would seem as though the market has slowed in Brighton. Inventory is down in all three categories and the average sale price is down in all three categories as well. However, that would not tell the entire story. Although the average sale price is down, the median sale price is actually up in two out of the three housing sectors. For single family homes, the median sale price has risen from $465,000 in 2007 to $477,750 in 2008. The same for condominium homes, in 2007 the median sale price was $265,000 and that has risen to $269,900 this year. For multi-family homes, the median sale price has dropped only $5,000 from $590,000 in 2007 to $585,000 this year.
Also, another good point to notice is that even though inventory is slightly down in the multi-family homes sector, the total number of sales has only been reduced by 2. There is a much larger discrepency in the condominium sales and single family sales.
If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com
Please click here to visit the Know Your Market Archives.
Comments (0)Subscribe to CommentsComment