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.
Not too much has changed since last week's Know Your Market: Brighton Market Stats but I wanted to touch on a few important aspects of the market. First, in single family homes the inventory has increased to 10 active single families on the market. The good aspect of this is that the average list price has dropped by $38,184 from $605,114 last week to $566,930. Seemingly, sellers are starting to adjust their prices to reflect the current market which is good for both buyers and sellers.
The volume of sales has increased proportionately between last year and this year over the past week, which shows that we are experiencing the same market activity as we were last year at this time.
Lastly, I know I mentioned this in last week's statistics but the median home sale price reflects a different market in Brighton. For single family home sales, the median sale price has risen $15,500 year-to-date compared to last year ($480,500 in 2008 vs. $465,000 in 2007). In Condominium home sales there has been an appreciation of $3,000 for median sale price year-to-date. Lastly, in Multi-Family home sales there has been a slight decrease in median sale price, down from $590,000 in 2007 to $585,000 this year, year-to-date.
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.
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