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.
[Note: I have changed a few things to the statistics layout, due to requests. I have added the Median Sales Prices from 2008 and 2007 to the chart, along with the overall appreciation or depreciation between the two. In addition, I have changed the "shading" of blocks to reflect positive change (yellow) and negative change (light red). These changes will hopefully help to better read the chart and follow my comments.]
My last Brighton Market Statistics update was on November 19th, so we have seen some changes to the market in the past couple of weeks. There are a lot of yellow square on my chart, which is a great sign of things to come in Brighton Real Estate. Firstly, all inventory is down from two weeks ago which creates less competition for sellers out there. Another positive is that, with the decrease in inventory we have also seen a decrease in average list price in EVERY housing category. Also, in single family homes we have seen a decrease in the average market time.
There has been an increase in sales across the board as well, with condominium home sales making a jump of 9 sales in the past two weeks (including 1409 Commonwealth Avenue, a recent Smart Sale). The average days on market for SOLD listings has either decreased or remained constant in every category.
The depreciation of single family home sales and multi-family home sales (in average sales price) has become smaller. The single families' average sales price depreciation has increased by $9,762. There was a slight increase in condominium home sales' depreciation but nothing to be worried about due to the increase in overall sales.
For median sales prices, all three categories have witnessed a slight decrease in median sales price, creating depreciation in all three categories. The median sales price for 2008 condominiums (as well as average sales price) does include two separate parking spaces sales that made their way onto the MLS. This is why it is important to have an agent who does not only KNOW their market statistics, but also studies them.
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
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