on June 16th I wrote this superbly excellent entry on brookline 2 bed condos .¬†
So compared to today:
There are currently 132¬†two bed condos on the market, down from 152.¬† Prices are ranging from $229,900 to $2.3 million (the same $2.3 million has not moved on price).
The months supply is suprisingly low at 3.47 MS with 38 units having been sold in the last month.¬† Average marketing time for sold units is 77.5 days, slightly up from 72.¬†¬† Average list price is $528,532 , actually up from $485,019.¬† Average sale price is $519,182 up from $470,790.¬† And even the difference between list price and sale price has shrunk to $9350 below asking from $14229 below asking 3 months ago.
Now these numbers are where they are because there are at least 3 different 15+ unit luxury buildings currently on the market:
323 Boylston St - also known as 323 at the cypress lofts - currently selling at “preconstruction prices” 45 units total - with 2 beds selling from $599k - $699k .¬† This one looks like it’s skewing my numbers even more with 5 on the market¬†and¬†11 sold in the last month.
1600 Beacon St - Washington on the Square - 125 units -¬†2 beds priced from $410k - $675k
10 Vernon - The Vernon¬† 15 units - 2 beds priced from $675k - $1.15 Million
So yes we can argue that the numbers above are somewhat artificial because we’re looking at averages, where these 3 buildings are somewhat flooding the market with more luxury condos.¬† And of course the¬†sales price is going to be closer to asking when you’re dealing with such a large amount of similar properties.¬† But at the same time, people are still buying them. And buying them at higher prices than we saw 3 months ago.
One Response to “Brookline 2 bed condos revisited”
Leave a Reply
You must be logged in to post a comment.