Read more about how the Brookline and Newton real estate market fared in May 2023. My monthly Market Update covers both single-family home and condominium homes and features highlights and analysis of each market. Read the whole report here.
Brookline, MA, Single-Family Homes Highlights
- Less market activity than year ago with 24 sales year- to-date, down 40%.
- Lack of supply = price increase. Median sales price
- $2,885,000, up 10.1% from 2022.
- Buyers are educated about price/value and well priced properties sell quickly. Median days on market is 12 days, down 20%.
- More choices for buyers, current market inventory is 42 units, up 133.3% from year ago.
- The market has 4.9 months of supply of inventory, meaning if no new listings came on the market, it would take 4.9 months to sell current inventory. This is a seller’s market, but closer to balanced than market has been the past years.
- Median list price of current inventory is $3,697,500, down 8.7% from 2022 and the median list price per sq ft is $873, up 9.2%.
- Price increases may be slowing. Worth noting: median list price per sq ft is $873, compared to median sales price per sq ft of $683.