Get to Know Your Market: Brentwood Real Estate Summer Update
by Joseph Montemarano on September 3, 20101
Despite what you may think after watching the local news at six, Brentwood saw some good sales activity over the past few months, especially considering that summer can sometimes be a slow time for real Estate sales.
Here’s a brief re-cap for single-family homes. As of September 1, 2010 there are currently:
- 127 homes for sale in Brentwood 30 homes in escrow.
- Over the last three months, 63 homes sold for an average of 94.92% of their asking price, and with
- An average of 60 days on the market.
The highest Brentwood home sale of the summer was $13,250,000 and the average sales price as just under $2.2 million.
As for condos, as of September 1, 2010 there are currently:
- 102 condos for sale in Brentwood
- 15 condos in escrow
- Over the last three months, 32 condos sold for an average of 96.48% of their asking price
- and with an average of 56 days on the market
Based on this data, it looks like we’re in a buyers market. And a special attention to sellers: if you price your property at the market value, it will sell for what you ask and in about a month or two. If you overprice your property it will languish.
I liked this video a lot, Joseph, thanks. Yes, I’ve learned from my colleagues that approximately 15% of homes on the market right now are actually priced appropriately — and those are the homes that all the other Sellers are competing with!