Market Watch: Today’s Prices and Past Sales

Perusing the listings this week, I noticed this three-bedroom, 1,776 square foot condo for sale in Coolidge Corner. It’s in a contemporary brownstone with 2.5 bathrooms, garage parking, a gas fireplace, and a formal dining room. Even better, it’s just a couple of blocks away from Trader Joe’s. Years ago, I lived on this street and loved it for its graceful, towering trees and proximity to the T. Interestingly, when this unit last sold in 2004, the owners paid $746K for it. Today, four years later, it’s on the market for $699K.   Another three-bedroom unit in the same building (on a higher floor and slightly larger) sold last October for $832K.

Hmmm…. what can this mean? Are Brookline sellers getting wise to realistic asking prices?

But just when I thought sellers might be wising up, I spotted this condo on Bradford Terrace —another 3 bedroom, 2 bathroom unit of 1,365 square feet. They’re asking $699K too. Right next door last September, a 3-bed, 2-bath unit of 1,422 square feet sold for $675K.  So maybe I was wrong about the realistic price thing.

Meanwhile, over in Brighton, there’s a 5 bedroom, 3.5 bathroom single-family house of 2,371 square feet on the market on Brainerd Road. The owners bought the house for $680K in 2006. They are now trying to sell it two years later for $710K. According to the ad, the heating system is new and two of three bathrooms have been redone. When you factor in the cost of buying and selling, maintenance and insurance, it doesn’t seem these sellers will be making much of a profi, even if this home seems to be an “investor’s” unit. Interestingly, a 4-bed, 2.5 bath house on this same street sold in 2006 for $620K. Is the Brainerd Street home now realistically-priced? Or could the owners still be in denial about a home bought at the top of the market?