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I was lucky enough to assist a buyer in the purchase of a great condominium unit at Commonwealth Park in Brighton, Massachusetts. The unit was a 4 room, 2 bedroom, 1 bath with a private patio and 1 car deeded parking.
This is a great complex and there are other opportunities in the building. If you are interested please contact me at 617.448.9481 or email me at mark@smarthomesboston.com
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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
Please click here to visit the Know Your Market Archives.
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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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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.
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