New Year - New Market: March 2013 Update

As the runaway sales market continues it can be useful to stop, take a deep breath, and consider the difference between last year and this year.

In March of 2012 there were 148 condos available for sale in Brookline – on market an average of 60 days.  The median price was $534,000.00

This March there are less than half – only 71 condos available in Brookline, on market an average on 43 days (including a $3million condo on market for 534 days).  The median price is now $565,000.

Reviewing sold properties – in 2012, the average sale price to list price ratio was 98%.  Not quite three months into 2013, the ratio is now 101% – meaning the average sale price is 1% OVER asking…  And that’s just the sales that have closed YTD – only about one third (37) of the 103 condos that have gone under agreement since Jan 1, 2013.  As more sales close, we anticipate that the sale to list price ratio will increase.

For buyers, this info can help inform a winning offer – critical since many home buyers are facing multiple offer situations this year.

If you are considering buying – or selling – contact me for the current market analysis you need to know.

On Market Snapshot – Brookline Condos March 2012 vs 2013

Condo Sales 2012

Condo Sales 2013 YTD

 

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