The Brighton, MA Real Estate market continues to show its strength by having the best month for settled sales of the year. In the month of August there were 29 homes that sold in Brighton, MA. The average sale price was $267,621 or 95.71% of the list to sale price ratio.
For the first half of the year we have seen an average of 19 condos selling per month for an average of $280,477 which was 96.72% of the list to sale price ratio. This is a decline from the average of $287,171 and 20.58 homes sold per month that was for all of 2010.
Using the last three months of averages, we find that 27 condos in Brighton, MA were sold each month. Currently with 77 homes on the market, this gives us a 2.82 months worth of inventory which indicates that the Brighton, MA market is a seller’s market. 6 months of inventory is considered the equilibrium where neither buyer nor seller has pricing power in negotiations.
As you can see, this is a fantastic time for both buyers and sellers in the Brighton, MA real estate market. By laws of supply and demand, the low inventory levels will help push up prices and with the decline in prices from last year it shows this is a great time to buy. Not to mention, that with 10% down on a sales price of $267,000 over 30 years and a 4.25% mortgage it would be a mortgage payment of $1,182.13. THAT IS CHEAPER THAN RENTING!!!
Whether you are thinking about buying or selling a home in Brighton, MA, then there is only one person you need to call. Jeffrey Chubb, owner of RE/MAX SELECT is one of the top agents in the state and the top Boston RE/MAX Agent for the first half of 2011. Give him a call at 617-480-2600 or visit him on the web at www.MoveWithChubb.com. And always remember, that when you BUY or SELL a house with Jeff, you get to use his moving truck for FREE!