Brookline, MA Median Price Increases Q1, Sales Drop

Last quarter, the median price of a single-family home in Brookline, Massachusetts was up 10.41 percent compared to Q1 2008, when the median price was $1,105,000.  With a median price of $1,220,000, this year’s Q1 median was the highest it’s been during the first quarter over the previous four years.

While Brookline, MA prices were resistant to the price downturn, sales dropped dramatically compared to the first quarter of 2008.  Twenty single-family properties sold during Q1 2008, while this year’s first quarter saw only 9 sales, a decline of 55 percent.  During the first quarters of 2007 and 2006, single-family sales in Brookline counted 41 and 31, respectively.

The average number of days on the market for Brookline single-family homes was 21 percent fewer last quarter than the same statistic for 2008.  Between January and April, homes in Brookline spent only 79 days on the market, on average.  Last year, homes that sold during that time frame averaged 100 days on the market, and in Q1 2007 they spent an average of 175 days on the market.

This data comes from MLS Property Information Network, Inc.

Brookline Real Estate Market Data

                  Median Price    Number of Sales    Days on the Market
Q1 2006:        $1,000,000                  31                                 153
Q1 2007:        $   959,500                  41                                 175
Q1 2008:        $1,105,000                  20                                 100
Q1 2009:        $1,220,000                    9                                  79

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