Brookline Real Estate Market Report Q1 2026 — Sales, Prices, Neighborhoods & Rentals

Executive Summary: Q1 2026 Brookline Real Estate Market

Brookline’s residential market opened 2026 with a notable price surge and modest volume gains. Q1 2026 included 80 closed residential sales: 19 single-family and 61 condominium. 3 multifamily transactions and 159 rental leases were tracked separately and are not part of the townwide residential count. The 80 closed sales represent an 11.1% increase over the 72 sales recorded in Q1 2025, a welcome sign of improving liquidity after a sluggish winter a year ago.

The headline story is pricing. The townwide median sale price reached $1,527,500 — up 26.9% year-over-year — while the average price per square foot climbed to $866, a 7.9% annual gain. Average days on market held relatively steady at 57.4 days. These numbers reflect a market where well-priced properties are moving, but overpriced listings continue to linger, keeping the average DOM elevated even as the median tightened to 22.5 days.

Several forces are shaping the landscape heading into spring. A proposed $23.25 million tax override vote in May has buyers and sellers weighing the fiscal trajectory of the town. Meanwhile, a statewide rent control ballot question is already influencing investor sentiment. With 142 active listings and 5.2 months of supply, the market sits in balanced territory — neither the frenzied seller’s market of 2021–2022 nor the frozen conditions of late 2023.

For buyers, the data suggests opportunity in neighborhoods where days on market remain elevated and sale-to-list ratios sit below 1.0. For sellers, the pricing power evident in the median and per-square-foot gains is real — but only for homes that are correctly positioned from day one. The 36.3% price-reduction rate underscores that the market is punishing aspirational pricing.

Market Pulse: Five-Quarter Trend & Price Per Square Foot

The five-quarter view reveals a market that is cyclical but trending upward on price. After the seasonal peak in Q2 2025 (185 sales, $1,400,000 median), volume contracted through Q3 and Q4 as is typical, bottoming at 80 sales in Q1 2026. However, the Q1 2026 median of $1,527,500 is the highest first-quarter reading in recent memory — well above the Q2 2025 peak median and 26.9% above Q1 2025’s $1,204,000.

Price per square foot tells a more tempered story. The townwide average of $866/sqft in Q1 2026 is up 7.9% year-over-year but still below the Q2 2025 high of $836/sqft on a median basis. This divergence between median price and $/sqft suggests the Q1 2026 sales mix skewed toward larger or higher-end units — a common winter pattern when luxury properties represent a larger share of closings.

Days on market have been remarkably consistent. The average DOM has hovered between 31 and 57 days across the five quarters, with Q1 periods naturally running longer due to holiday-season listings that carry over. The median DOM of 22.5 days in Q1 2026 — down from 27 days a year ago — indicates that the core of the market is absorbing well-priced inventory efficiently, even as a tail of stale listings inflates the average.

Months of supply tightened from 6.0 in Q1 2025 to 5.2 in Q1 2026, reflecting both the sales volume increase and a slight dip in active inventory (142 vs. 147). The market remains in balanced territory, though the condo segment at 4.6 months leans slightly toward sellers while single-family at 7.3 months gives buyers more leverage.

Macro Context: Rates, Policy & the Brookline Landscape

Mortgage rates remain the dominant macro variable for Brookline’s market. As of early April 2026, the 30-year fixed rate sits at approximately 6.18% per FRED/MORTGAGE30US data. While rates briefly dipped below 6% in early March, they have since rebounded. At the current rate with 20% down, the estimated monthly principal-and-interest payment on the townwide median of $1,527,500 is approximately $7,469 — and for a median-priced condo at $1,338,888, approximately $7,246 including the median condo fee of $700/month per Q1 data.

Locally, the biggest policy story is the proposed $23.25 million Proposition 2½ override heading to voters on May 5. If approved, it would increase property taxes to address an $8.2 million school budget deficit and avoid an estimated 210 layoffs. For buyers, this means factoring in potentially higher carrying costs; for sellers, the outcome could influence how the market perceives Brookline’s school quality — a core driver of demand. The school budget crisis and stalled teacher contract negotiations add uncertainty to the picture.

On the regulatory front, a statewide rent control ballot question continues to shape investor calculus. While not yet law, the proposal is already influencing how landlords and multifamily buyers underwrite Brookline properties. Separately, zoning debates at May Town Meeting — including a Route 9 overlay and Pleasant Street rezoning — could reshape development patterns in Chestnut Hill and Brookline Village.

Rising condo fees are another structural headwind. The median condo fee in Q1 2026 was $700/month per the data, up from $575 in Q1 2025. A pending increase in reserve allocation requirements from 10% to 15% could push fees higher still, particularly in Brookline’s older condo stock. Buyers should scrutinize reserve studies carefully.

Sales Deep Dive: Single-Family, Condo & Multifamily

Single-Family (19 sales): The single-family segment recorded 19 closed sales in Q1 2026, up from 11 in Q1 2025 — a 72.7% increase in volume, though still a relatively thin sample. The median sale price was $2,280,000, compared to $2,400,000 a year ago (−5.0% YoY). Average price per square foot rose to $795/sqft from $737, and the median sale-to-list ratio improved to 98.55% from 95.64%. The single-family market remains buyer-friendly on the margins: 63.2% of homes sold below asking, 36.8% saw price reductions, and months of supply stood at 7.3 — well above the balanced threshold. Average DOM of 70.6 days reflects a segment where patience is required on both sides.

Condominium (61 sales): Condos accounted for the majority of Q1 activity with 61 closed sales — flat year-over-year (also 61 in Q1 2025). The median condo price jumped to $1,338,888, up 27.5% from $1,050,000 a year ago. Average $/sqft rose to $887 from $815. The condo market showed more competitive dynamics: the average sale-to-list ratio was 100.17% (above asking), and 27.9% of condos sold over asking price. Median DOM tightened to 22 days from 27. With 4.6 months of supply, the condo segment leans slightly toward sellers, though the 36.1% price-reduction rate suggests that mispriced units still face correction.

Multifamily (3 sales): With only 3 multifamily transactions in Q1 2026, the data is anecdotal only — too few sales to draw conclusions about market direction. The observed median sale price was $1,800,000 with an average $/sqft of $673. The median sale-to-list ratio of 90.0% and average DOM of 65 days suggest these were negotiated deals. Active multifamily inventory stood at 8 listings with 7.9 months of supply. Investors weighing Brookline multifamily should note the rent control ballot question as a material risk factor, alongside the thin transaction volume that makes pricing benchmarks unreliable.

Investment context: The gap between single-family and condo $/sqft ($795 vs. $887) is notable — condos commanded a premium on a per-foot basis this quarter, likely reflecting the concentration of condo sales in higher-value neighborhoods like Coolidge Corner and Brookline Village. For investors evaluating entry points, the condo segment’s tighter supply and above-asking sale-to-list ratio suggest stronger near-term demand, while single-family offers more negotiating room.

Neighborhood Breakdown

Coolidge Corner dominated Q1 volume with 33 sales — more than 40% of all townwide transactions. The median sale price was $1,500,000 with an average $/sqft of $927, and the average sale-to-list ratio of 100.71% indicates competitive bidding. Compared to Q1 2025 (32 sales, $955,000 median), the median price increase is striking, though the shift likely reflects a different mix of unit sizes and finishes rather than pure appreciation across identical properties.

Brookline Village was the quarter’s standout for pace, with 19 sales at a median of $1,300,000 and a median DOM of just 17 days. The sale-to-list ratio of 102.16% was the highest of any neighborhood, and 42.1% of sales closed above asking. Year-over-year, volume rose from 13 to 19 sales while the median price increased from $1,237,500. The neighborhood’s proximity to transit and the ongoing parking and access discussions continue to shape buyer interest.

Washington Square recorded 8 sales at a median of $920,500 — down from $1,375,000 on 10 sales a year ago. The median DOM of 61.5 days and sale-to-list ratio of 96.38% suggest a slower pace, though the mix of properties quarter to quarter makes direct comparison difficult. Chestnut Hill saw 6 sales at a median of $1,850,000 with a median DOM of 57 days and sale-to-list of 94.64%, reflecting the deliberate pace typical of the luxury segment. Fisher Hill recorded 6 sales at a median of $1,675,000; the prior year had only 1 sale (n=1), so year-over-year comparison is not meaningful.

South Brookline had 5 sales at a median of $2,280,000 and a median DOM of 16 days — the fastest-moving neighborhood alongside Brookline Village. The prior year had only 1 sale, so no trend can be drawn. Cottage Farm (2 sales, n=2) and Longwood (1 sale, n=1) had too few sales to draw conclusions; the observed data points are included in the table for reference only.

School Zone Analysis

Brookline’s eight elementary school zones provide a useful lens for understanding micro-market dynamics, since families often target specific attendance areas. Note that all of Brookline feeds into Brookline High School, so BHS is not a differentiator at the neighborhood level.

Pierce was the hottest school zone in Q1 2026 by competitive metrics: 13 sales at a median of $1,100,000, with a sale-to-list ratio of 102.88% and 46.2% of sales closing above asking. The median DOM of just 16 days and average $/sqft of $1,030 — the highest of any zone — reflect strong demand in this transit-accessible area. Year-over-year, volume more than doubled from 6 sales, though the prior year’s median was $815,000 on a different mix. Ridley recorded 16 sales at a median of $1,537,500 and a median DOM of 23 days, with average $/sqft of $936. Volume rose from 10 sales in Q1 2025. Runkle also had 16 sales at a median of $965,500 — down from $1,250,000 a year ago on 15 sales — with a median DOM of 33 days.

Lawrence recorded 7 sales at a median of $1,350,000 with a sale-to-list ratio of 100.93% and 42.9% over asking — a competitive zone despite the smaller sample. Baker had 9 sales at a median of $2,050,000, the highest median of any zone, reflecting its concentration of single-family homes in Chestnut Hill and South Brookline. The median DOM of 38 days and sale-to-list of 96.92% indicate a more deliberate pace. Driscoll saw 10 sales at a median of $1,787,500 but a notably high median DOM of 49.5 days and the lowest over-asking rate (10.0%), suggesting buyers had leverage.

Lincoln recorded 6 sales at a median of $1,045,000 with a sale-to-list ratio of 101.88% and 50% over asking — a competitive zone on a smaller sample. Hayes had only 3 sales (n=3), too few to draw conclusions; the observed median of $5,500,000 reflects a small number of high-value transactions and is not representative of the broader zone. The school budget uncertainty and pending override vote are worth monitoring, as outcomes could shift demand patterns across zones.

Rental Market

Brookline’s rental market recorded 159 leases in Q1 2026, up 3.2% from 154 in Q1 2025. The median rent was $3,600/month — flat year-over-year — while the average rent rose to $4,424 from $4,139, suggesting that higher-end units made up a larger share of the lease mix. The median rent per square foot was $3.75, up from $3.48 a year ago, indicating modest per-foot appreciation even as the headline median held steady.

Leasing velocity improved compared to Q4 2025. The median DOM for rentals was 27 days, down sharply from 48.5 days in Q4 2025 — consistent with the seasonal pickup as students and professionals begin searching for September leases. The share of rentals leased within 30 days rose to 54.1% from 34.0% in Q4. The vast majority of leases (81.1%) closed at asking price, with just 8.8% above asking and 10.1% below — a remarkably tight band that reflects the efficiency of Brookline’s rental market.

A key policy question hanging over the rental market is whether Brookline’s new broker fee structure has led to rent increases. The Q1 data suggests not: the flat median rent and modest per-foot gains are consistent with normal seasonal patterns, not a broad pass-through of new costs. Meanwhile, the micro-unit proposal near Longwood Medical Area could add new inventory to the market if approved, potentially easing pressure in the medical-area corridor.

Active rental inventory stood at 184 listings with 3.4 months of supply — tighter than the sales market and indicative of ongoing demand. The price-reduction rate of 20.1% was well below the sales market’s 36.3%, confirming that rental pricing is more accurately calibrated from the start. For landlords, the data supports holding rents steady or making modest increases; for tenants, the window to negotiate is narrower than in the sales market, but units that sit beyond 30 days may offer room for concessions. The advancing rent control legislation remains a wildcard that could reshape landlord strategy if it gains further traction.

Inventory & Supply

Brookline entered Q1 2026 with 142 active listings, nearly unchanged from the 147 counted in Q1 2025 but a sharp jump from the 93 listings available at the close of Q4 2025. The seasonal refill was broad-based: single-family inventory rose to 47 active listings (up from 27 in Q4 2025), while condo inventory climbed to 95 (up from 66). Buyers had more to look at, but the pipeline was not dramatically different from a year ago.

Months of supply tell a more nuanced story. Townwide, Q1 2026 registered 5.2 months of supply — down from 6.0 months in Q1 2025 and well above the 2.5 months recorded in Q4 2025. The single-family segment sat at 7.3 months, a buyer-friendly reading but a major improvement from the 15.1 months logged a year ago when only 11 homes traded. Condominiums posted 4.6 months of supply, up slightly from 4.4 in Q1 2025, suggesting a roughly balanced condo market heading into spring.

The rental market added depth as well: 184 active rental listings were on the market at quarter’s end, up from 120 a year earlier. With 159 leases signed, rental months of supply stood at 3.4 — still tight, but looser than the 2.3 months seen in Q1 2025. For context on how new micro-unit proposals near Longwood could affect future rental supply, see our recent analysis.

Multifamily inventory was thin: 8 active listings supported just 3 closed sales (n=3; too few to draw conclusions), yielding 7.9 months of supply — identical to Q1 2025’s reading on the same 3-sale volume.

Buyer Behavior

Buyers in Q1 2026 were active but selective. Townwide, 80 residential sales closed — up 11.1% from 72 in Q1 2025. The median days on market fell to 22.5 from 27 a year ago, and 55.0% of sales closed within 30 days, essentially flat versus 54.2% in Q1 2025. The share of homes sold within 7 days, however, dropped to 5.0% from 6.9%, suggesting fewer snap decisions and more deliberate due diligence.

Bidding behavior was mixed. The share of sales closing above asking price fell to 28.7% from 33.3% a year ago, while the percentage closing at asking rose to 12.5% from 5.6%. The average sale-to-list ratio ticked up to 99.7% from 98.7%, indicating that when buyers did compete, they competed meaningfully. Condominiums averaged a 100.2% sale-to-list ratio — effectively at or just above asking — while single-family homes averaged 98.3%.

Neighborhood-level buyer intensity varied. Brookline Village was the hottest pocket: 19 sales, a median 17 DOM, and a 102.2% sale-to-list ratio with 42.1% of deals closing above asking. Coolidge Corner led in volume with 33 sales and a 100.7% sale-to-list ratio. By contrast, Washington Square saw a median 61.5 DOM and only 12.5% of its 8 sales above asking — a notable cooldown from the 40% over-asking rate a year ago.

Among school zones, the Pierce zone was the most competitive: 13 sales, a 46.2% over-asking rate, and a 102.9% sale-to-list ratio. The Lawrence zone also showed strength with 7 sales at a 100.9% sale-to-list ratio. Meanwhile, the Driscoll zone posted a 49.5-day median DOM and only 10% of its 10 sales above asking — the softest buyer engagement among zones with adequate sample sizes.

Seller Behavior

Sellers in Q1 2026 faced a market that rewarded patience and realistic pricing — but punished overreach. The townwide price-reduction rate stood at 36.3%, up significantly from 25.0% in Q1 2025. More than one in three listings required at least one price cut before finding a buyer. The pattern was consistent across segments: 36.8% of single-family listings and 36.1% of condos saw reductions.

Despite the higher reduction rate, sellers who priced correctly were rewarded with strong outcomes. The townwide median sale price reached $1,527,500 — up 26.9% year-over-year. Condo sellers saw the median jump to $1,338,888 from $1,050,000 in Q1 2025, a 27.5% increase. Single-family sellers, however, observed a modest median decline to $2,280,000 from $2,400,000 (on 19 sales vs. 11 a year ago), suggesting the mix shifted toward lower-priced homes rather than a true price retreat.

The median sale-to-list ratio of 98.8% (townwide) was slightly below the 99.0% posted in Q1 2025, confirming that most sellers gave a small concession. The 58.8% of sales closing below asking (vs. 61.1% a year ago) and the 12.5% closing at asking (vs. 5.6%) suggest more sellers are landing closer to their targets. For sellers weighing listing strategy, our recent post on how Compass’s platform supports seller leverage is worth reviewing.

Condo fees remain a factor for sellers positioning units. The median condo fee in Q1 2026 was $699.61/month, up from $575 in Q1 2025. As we explored in our analysis of rising reserve allocation requirements, higher fees can compress net buyer budgets and affect sale prices — a dynamic sellers should address proactively in marketing materials.

Risk & Watch Items

Override & Tax Risk. Brookline’s $23.25M override vote on May 5, 2026 is the single largest near-term policy variable for property values. If approved, residential tax bills will increase — a factor buyers are already weighing. If it fails, the town faces an $8.2M school deficit and potential layoffs, which could erode the school-quality premium that underpins Brookline’s price floor. Either outcome reshapes the value proposition for buyers in every school zone.

Rent Control Legislation. Senate Bill S.960 continues to advance through the state legislature. As we’ve documented, the proposed rent caps could compress Brookline’s residential tax base by 6–9% if enacted. With 159 rental leases signed in Q1 2026 at a median rent of $3,600/month and an average sale-to-list ratio of 100.2%, the rental market is currently functioning efficiently — but investor sentiment is already shifting, as explored in our analysis of early investment impacts.

Condo Fee Escalation. The median condo fee of $699.61/month in Q1 2026 represents a 21.7% increase from $575 in Q1 2025. Rising reserve allocation requirements — moving from 10% to 15% — are a structural driver. At current rates (6.18%), a buyer financing a $1,338,888 condo faces an estimated monthly P&I of $6,546 plus $700 in condo fees, totaling roughly $7,246 before taxes and insurance. Fee growth at this pace compresses effective purchasing power and may slow price appreciation in older buildings with deferred maintenance.

Zoning & Development. The Route 9 overlay rezoning and Pleasant Street overlay heading to May Town Meeting could reshape density in Chestnut Hill and adjacent areas. Increased supply from new development would be a long-term positive for affordability but could introduce short-term competition for existing condo sellers in affected corridors.

Small Sample Caution. Multifamily data (3 sales in Q1 2026) is anecdotal only. Several neighborhoods — Cottage Farm (2 sales), Longwood (1 sale) — and the Hayes school zone (3 sales) had too few transactions to draw directional conclusions. Readers should treat these data points as observations, not trends.

Forecast

Spring Outlook. Q2 is historically Brookline’s busiest quarter — Q2 2025 produced 185 closed sales, more than double Q1’s 72. With 142 active listings already on the market and new inventory flowing in weekly (our latest weekly update counted 95 new listings in the final week of March alone), we expect Q2 2026 volume to be robust. Whether it matches last year’s pace depends heavily on mortgage rate trajectory and the override vote outcome.

Pricing. The 26.9% year-over-year median price gain is eye-catching but partly compositional — the condo mix shifted toward higher-priced units, and single-family volume nearly doubled from a very thin Q1 2025 base. We expect price-per-square-foot growth (currently +7.9% YoY at $866 avg) to be a more reliable indicator going forward. Sustained appreciation in the mid-single digits would be consistent with Brookline’s long-term trend.

Condos. With 4.6 months of supply and a 100.2% average sale-to-list ratio, the condo market is balanced-to-slightly-competitive. Rising condo fees ($699.61 median) are a headwind, but demand from medical professionals, academics, and downsizers continues to support the segment. Watch for whether the reserve requirement changes trigger special assessments in older buildings — that would be a localized drag on values.

Single-Family. At 7.3 months of supply, the single-family segment remains buyer-friendly by Brookline standards. The 36.8% price-reduction rate and 98.3% sale-to-list ratio suggest sellers still need to price carefully. However, the 31.6% over-asking rate (up from 18.2% a year ago on 11 sales) hints that well-positioned homes are drawing competition. Expect the spring wave to tighten this segment as families target the September school year.

Disclosure: This forecast reflects conditions as of April 7, 2026 and is based on MLS data and publicly available policy information. Real estate markets are inherently unpredictable. The override vote, interest rate movements, legislative action on rent control, and macroeconomic shifts could materially alter these projections. This is not investment advice.

Methodology

Data Source. All transaction data is sourced from MLS Property Information Network (MLS PIN), extracted on April 7, 2026. The reporting period covers January 1 through April 1, 2026 (Q1 2026). Year-over-year comparisons reference Q1 2025 (January 1 – April 1, 2025). Quarter-over-quarter comparisons reference Q4 2025 (October 1, 2025 – January 1, 2026).

Scope. Q1 2026 included 80 closed residential sales: 19 single-family and 61 condominium. 3 multifamily transactions and 159 rental leases were tracked separately and are not part of the townwide residential count. Townwide residential = single-family + condominium closed sales only. Multifamily and rentals are tracked separately and are NEVER included in townwide totals.

Neighborhoods & School Zones. Neighborhood boundaries follow standard Brookline designations. School zones refer to the 8 Brookline elementary schools: Baker, Driscoll, Hayes, Lawrence, Lincoln, Pierce, Ridley, and Runkle. Brookline High School serves all of Brookline and is not used as a sub-market comparison.

Small Sample Protocol. For any cohort with fewer than 5 closed sales — including multifamily (n=3), Cottage Farm (n=2), Longwood (n=1), and the Hayes school zone (n=3) — we do not use directional language. Counts are stated inline and findings are described as observations, not trends. Readers should exercise caution when interpreting these data points.

Affordability Estimates. Monthly payment estimates assume a 30-year fixed mortgage at 6.18% (per FRED/MORTGAGE30US) with 20% down. They reflect principal and interest only and do not include property taxes, homeowner’s insurance, PMI, or condo fees unless explicitly noted. Condo payment-with-fee figures add the median condo fee of $699.61/month to the estimated P&I.