Past Sales, Price Reductions in Brookline and Brighton

The toughest part about buying a house is sifting through lists of homes with astronomical asking prices. For example, the average listing price in Brookline is a discouraging $683K. That’s way out of my price range!

But buyers take heart; the average listing price differs from the average sale price. In the past three months in Brookline, the average sale price is $447,500– significantly lower than the asking price. In Brighton, the average listing price over the last three months is about $329K, but the average sale prices is significantly less — $270K. (Stats courtesy of Redfin.)

What does this mean? Maybe lower-priced homes are selling, while the million-dollar luxury homes aren’t. Or maybe it means sellers are accepting lower offers. If it’s the latter scenario, it’s good news for buyers who, like me, are confused by the disconnect between what’s on the market and all the newspaper headlines about declining housing prices.

Here’s some more good news for buyers waiting for housing prices to come down:

2021 Commonwealth Avenue, #1, Brighton
Reduced from $649K to $624K
BEDS:2/BATHS:2.5
SQ.FT: 1667

374 Chestnut Hill Ave, #54, Brighton
Reduced from $279K to $277K.
BEDS:2/BATHS:1
SQ.FT: 852

99 Pond Avenue, #320, Brookline
Reduced from $559,9K to $549,9K.
BEDS:2/BATHS:2
SQ.FT: 1300