South Brentwood Real Estate

South Brentwood Real Estate Review
by Elyse Arbour, Rodeo Realty – Brentwood
Learn more about Elyse Arbour, SBRA 1st VP

Brentwood Single Family Home Market: In 2018 there were 12 single-family homes that sold in our neighborhood which was slightly less than the previous year. The average price was $3,079,000 which was an increase of 12.9% year-over-year. The median price was $2,647,000, an increase of 16.4%. The highest price home sold for $5,105,500, the lowest price home for $1,933,000. The average price per square foot of living space was $1,113, a decrease of 9.0%. The average lot size was 7,082 and the average days on the market was slightly up.
There were multiple offers on homes that were priced to sell, though there were some homes that sat on the market longer and there were even a few price reductions. We also had our first sale over $5,000,000! Currently there are 8 homes for sale and 2 homes are currently in escrow.
The first 8 months of 2018 were brisk and then we experienced a cool down in the last quarter of the year as mortgage interest rates increased. Subsequently some buyer resistance developed due to high prices and buyers simply not willing to buy at what they felt was the top of the market.
Brentwood Condo Market: The condo market was on fire in 2018. There were 165 units that sold with an average price of $1,056,00 which was a 5.8% increase year-over-year. The median price was $1,000,000 which was an increase of 11.2%. The highest price sold was $3,700,000 and the lowest price sold was $330,000. The average price per square foot was $688. Currently there are 27 condominiums for sale and 16 in escrow.
I am happy to help you with any of your real estate needs or answer any questions you may have.
– Updated May, 2019