Brookline MA Real Estate Market Report Q2 2026 — Sales, Prices, Neighborhoods & Rentals

Executive Summary

Executive Summary: Q2 2026 Brookline Real Estate

Brookline’s spring market delivered 169 closed residential sales in Q2 2026 — 42 single-family and 127 condominium — at a townwide median price of $1,250,000 and an average price per square foot of $844. Sales volume fell 8.6% year-over-year, and the median price dropped 10.7% compared to Q2 2025. Yet the average $/sqft edged up 1.0%, suggesting that per-unit pricing held firm even as the mix of what sold shifted toward smaller, lower-priced condominiums. Three multifamily transactions and 368 rental leases were tracked separately and are not part of the townwide residential count.

The headline median decline deserves context. Q2 2025 was an unusually strong quarter with 185 sales and a $1,400,000 median. This year’s lower volume and median reflect a combination of fewer high-end single-family closings (42 vs. 48) and a condo segment that tilted toward smaller units. The stable $/sqft metric — $844 vs. $836 a year ago — is the better gauge of underlying value, and it tells a story of resilience rather than retreat.

Homes moved at a reasonable pace: median days on market was 21, and 62.7% of sales closed within 30 days. The median sale-to-list ratio landed at exactly 1.00, with 39.6% of properties selling above asking. That is competitive, though noticeably cooler than Q2 2025 when 47% sold over ask. Inventory stood at 209 active listings and 3.7 months of supply — balanced territory that gives buyers slightly more room to negotiate without signaling distress. For the latest weekly snapshot, see our most recent Brookline market update.

Mortgage rates near 6.49% continue to shape affordability. The estimated monthly principal-and-interest payment on the townwide median home (20% down) is roughly $6,314 — and $12,856 for the median single-family. Brookline’s recently approved $23.25M property tax override adds a modest but real carrying-cost increase that buyers should factor into their planning. Despite these headwinds, Brookline’s school quality, transit access, and walkable neighborhoods continue to underpin demand.

Market Pulse

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

The five-quarter view reveals a market that peaked in Q2 2025 and then moderated through the second half of 2025 before rebounding in volume this spring. Closed sales dropped from 185 in Q2 2025 to 163 in Q3, then 113 in Q4, and bottomed at 80 in Q1 2026 — a normal seasonal trough. Q2 2026’s 169 closings represent a strong seasonal rebound (up 111% from Q1) but still trail last year’s spring by 16 sales.

Price per square foot has been remarkably stable. The townwide average $/sqft has ranged from $764 (Q4 2025) to $866 (Q1 2026) over the past five quarters, with Q2 2026 landing at $844. That Q4 dip was driven by a heavier mix of larger, lower-$/sqft single-family homes closing at year-end. The current $844 figure sits comfortably in the upper half of the range, reinforcing that Brookline’s per-foot values remain intact even as headline medians fluctuate with product mix.

Days on market tell a seasonal story too. Average DOM peaked at 57.4 days in Q1 2026 — winter listings naturally sit longer — and compressed to 38.4 days in Q2. That’s still slower than Q2 2025’s 31-day average, consistent with the broader theme of a market that is active but less frenzied than a year ago. For context on where mortgage rates may be headed, see our recent analysis.

Macro Context

Macro Context: Rates, Policy & What’s Shaping Brookline Demand

The 30-year fixed mortgage rate averaged approximately 6.49% during Q2 2026, keeping monthly payments elevated for Brookline buyers. At the townwide median of $1,250,000 with 20% down, estimated principal and interest alone runs about $6,314/month. For the median single-family home at $2,545,000, that figure climbs to roughly $12,856. These carrying costs continue to sideline some move-up buyers and compress the pool of first-time purchasers, particularly in the single-family segment.

Locally, Brookline’s May 2026 property tax override — a phased $23.25M increase approved by voters with 35% turnout — adds a new variable to ownership costs. While the per-household impact is modest in the context of Brookline home values, it signals the town’s commitment to maintaining school quality and services, which historically supports long-term demand. Town Meeting also approved the Chestnut Hill Route 9 redevelopment by a 217–20 vote, a decades-in-the-making decision that could reshape the commercial corridor and eventually add housing supply.

On the regulatory front, Massachusetts’ statewide rent-control ballot initiative was pulled from the November 2026 ballot, reducing one source of investor uncertainty. However, Brookline’s own rent-stabilization bill (S.960) remains pending in the legislature. Separately, the town’s updated ADU rules and inclusionary zoning changes for 11–19 unit projects could gradually expand housing options, though near-term supply effects will be minimal.

National economic crosswinds — including trade-policy uncertainty and mixed employment signals — have kept the Federal Reserve cautious on rate cuts. Brookline’s market, however, continues to benefit from structural advantages: proximity to Boston’s medical and academic employment centers, top-rated schools, and a constrained land supply that limits new construction. These factors help explain why $/sqft held steady even as transaction volume softened.

Sales Deep Dive

Sales Deep Dive: Single-Family, Condo & Multifamily

Q2 2026 included 169 closed residential sales: 42 single-family and 127 condominium. 3 multifamily transactions and 368 rental leases were tracked separately and are not part of the townwide residential count.

Single-Family: The 42 single-family closings represented a 12.5% decline from Q2 2025’s 48 sales. The median sale price was $2,545,000, down 14.7% year-over-year from $2,985,000. However, the average $/sqft of $826 actually exceeded last year’s $806, suggesting that per-foot values strengthened even as the mix shifted toward somewhat smaller or less premium properties. The median sale-to-list ratio was 1.00, with 42.9% of homes selling above asking — a notable improvement from Q2 2025’s 33.3%, indicating that well-priced single-family homes attracted competitive bidding. Median DOM held steady at 21 days, though the average of 44.2 days (vs. 49.6 a year ago) shows fewer stale listings dragging the tail.

Condominium: The 127 condo sales were down 7.3% from Q2 2025’s 137. The median condo price of $967,000 fell 12.1% year-over-year from $1,100,000, while average $/sqft held essentially flat at $850 vs. $846. The share selling over asking dropped from 51.8% to 38.6%, and the median condo fee was $618/month — up from $525 a year ago, a 17.7% increase that adds meaningfully to carrying costs. Condo inventory stood at 138 active listings with 3.2 months of supply, still a seller-favorable level. For buyers weighing the buy-now-refinance-later calculus, the condo segment offers the most accessible entry point.

Multifamily / Investment: With only 3 multifamily sales in Q2 2026, this segment is too few sales to draw conclusions about trends. The observed median sale price was $2,200,000 at an average $/sqft of $610 (n=3). All three sold above asking, with a median sale-to-list ratio of 1.10. There were 15 active multifamily listings at quarter’s end, representing 14.9 months of supply. Brookline’s pending rent-stabilization bill (S.960) continues to create uncertainty for investment buyers in this segment.

Note: Average sale price exceeds median by 30%+ across segments, suggesting luxury outlier distortion. Rely on medians for the most representative picture.

Neighborhood Breakdown

Neighborhood Breakdown

Brookline Village led the town in volume with 55 closed sales at a median price of $960,000 and average $/sqft of $843. Median DOM was 28 days, and 40% of sales closed above asking. Year-over-year, volume increased from 37 sales, though the median price dropped from $1,750,000 — likely reflecting a shift in the mix toward smaller condos rather than a decline in per-unit values.

Coolidge Corner recorded 53 sales at a median of $875,000 and the highest average $/sqft among high-volume neighborhoods at $897. However, volume fell sharply from 83 sales in Q2 2025, and the share selling over asking dropped from 51.8% to 30.2%. Washington Square (16 sales, median $1,847,500) was the quarter’s most competitive sub-market: 56.3% of sales closed above asking with a median DOM of just 14 days. Chestnut Hill posted 18 sales at a median of $3,227,500 and average $/sqft of $772 — the highest median price of any neighborhood with meaningful volume. The Route 9 rezoning approval may influence future values here.

South Brookline recorded 10 sales at a median of $2,050,000 and average $/sqft of $725, with a median DOM of 35 days. Pill Hill saw 6 sales (median $1,450,000, avg $/sqft $901). Cottage Farm (2 sales, n=2), Fisher Hill (4 sales, n=4), and Longwood (3 sales, n=3) all had too few sales to draw conclusions about trends. The observed data for these micro-neighborhoods is included in the table below for reference.

School Zone Analysis

School Zone Analysis (Elementary Zones)

Brookline’s eight elementary school zones provide a useful lens for comparing sub-markets, since school assignment is a primary driver of family home-buying decisions. All eight zones recorded at least 9 sales in Q2 2026, providing reasonable — though in some cases still modest — sample sizes for comparison. For broader context on school governance, see our coverage of the School Committee leadership changes.

The Ridley zone led in volume with 31 sales at a median price of $1,995,000 and the second-highest average $/sqft at $919. The Pierce zone was the quarter’s most competitive: 27 sales, 55.6% over asking, a sale-to-list ratio of 1.013, and a median DOM of just 17 days. The Driscoll zone (18 sales, median $1,847,500) also showed strong demand with 55.6% over asking and a 1.027 sale-to-list ratio.

The Lawrence zone recorded 26 sales at a median of $830,500, offering one of the more accessible price points. The Runkle zone (23 sales, median $1,350,000) and Lincoln zone (21 sales, median $765,000) both showed longer marketing times — 34 and 36 median DOM respectively — and lower shares selling over asking (39.1% and 14.3%). Lincoln’s 14.3% over-asking rate and 0.982 sale-to-list ratio made it the softest zone this quarter.

The Baker zone (12 sales, median $1,825,000) posted the lowest average $/sqft at $687 — consistent with its larger-lot, single-family character in South Brookline. The Hayes zone recorded 9 sales at a median of $2,200,000, the highest median among all zones, with an average $/sqft of $743. With 9 sales, Hayes data should be interpreted with some caution given the modest sample size.

Rental Market

Rental Market

Brookline’s rental market was active in Q2 2026, with 368 leases signed — up 7.9% from 341 in Q2 2025. The median rent was $3,475/month, down 3.5% from $3,600 a year ago. Average rent was $3,978. The median rent per square foot was $3.84, a modest increase from $3.78 in Q2 2025, suggesting that per-foot rental values held steady even as headline rents softened slightly — a pattern that mirrors the sales market’s mix-shift dynamics.

Leasing velocity was solid: 67.1% of rentals were signed within 30 days, and the median DOM was 20 days. The vast majority of leases (79.6%) closed at asking price, with just 12.8% above and 7.6% below. Price reductions affected 14.1% of listings, down from 16.4% a year ago. Active rental inventory stood at 407 units with 3.3 months of supply — tighter than the 5.6 months recorded in Q1 2026 but looser than Q2 2025’s 1.6 months. The broader Boston-area rental availability surge appears to be providing Brookline renters with somewhat more options than a year ago.

For landlords, the data suggests a market that remains healthy but is no longer as tight as 2025. The slight softening in median rents and the increase in available inventory may reflect new supply coming online regionally, as well as some demand shifting toward purchase — particularly among renters evaluating the buy-now-refinance-later strategy. Brookline’s pending rent-stabilization legislation (S.960) remains a factor that landlords and investors should monitor, though the removal of the statewide ballot measure has reduced near-term regulatory risk.

Inventory & Supply

Development watch: For a current example of how land use and redevelopment questions are playing out on the ground, read our analysis of the Centre Street Lots in Coolidge Corner.

Brookline ended Q2 2026 with 209 active listings, down slightly from 217 a year ago but up from 204 at the close of Q1 2026. The townwide months-of-supply figure came in at 3.7 — up from 3.5 in Q2 2025 and well below the 7.5 months recorded in Q1 2026, when winter seasonality suppressed closings. By conventional benchmarks, anything under 4 months still favors sellers, though the market is no longer as tight as it was a year ago.

Single-family inventory stood at 71 active listings with 5.1 months of supply, compared to 65 listings and 4.0 months in Q2 2025. That shift nudges the single-family segment closer to balanced territory. Condominiums, meanwhile, held at 138 active listings and 3.2 months of supply — essentially flat versus the 152 listings and 3.3 months a year ago. The condo pipeline remains tighter than the single-family pipeline, which helps explain why condo sale-to-list ratios held at 1.00 even as median prices softened.

Price reductions tell a complementary story. Townwide, 23.1% of sold properties had at least one price cut before going under agreement, up from 13.0% in Q2 2025 but down sharply from the 36.3% recorded in Q1 2026. Sellers who priced correctly at launch still moved quickly; those who overshot faced longer marketing periods. For context, the most recent weekly market update showed 535 total active listings across all property types, reflecting the seasonal peak of new inventory entering the market heading into summer.

Buyer Behavior

Buyer urgency in Q2 2026 was measurably lower than a year ago but rebounded strongly from the winter lull. Townwide, 62.7% of sales closed within 30 days of listing — down from 77.3% in Q2 2025 but up from 55.0% in Q1 2026. The share of homes sold within 7 days was 10.7%, compared to 16.2% a year earlier. Buyers are still competing, but fewer are making snap decisions.

The over-asking rate tells a similar story. In Q2 2026, 39.6% of closed sales went above list price, versus 47.0% in Q2 2025. The median sale-to-list ratio held at 1.00, and the average was 1.0021 — essentially at asking. Condos saw 38.6% sell over asking (down from 51.8%), while single-family homes posted 42.9% over asking (up from 33.3% a year ago). That single-family shift is notable: despite fewer total sales, the buyers who did transact were more aggressive, perhaps reflecting the quality of available inventory or pent-up demand from a slow winter.

Average days on market townwide was 38.4, up from 31 days in Q2 2025. Single-family homes averaged 44.2 days (down from 49.6 a year ago), while condos averaged 36.6 days (up from 24.5). The condo slowdown is the more significant signal — it aligns with the 12.1% year-over-year decline in condo median price and suggests that buyers are being more selective at current price points. For buyers weighing timing, our recent analysis on whether to buy now and refinance later remains relevant as mortgage rates hold near 6.49%.

Seller Behavior

Sellers in Q2 2026 faced a market that rewarded realistic pricing and punished overreach. The townwide price-reduction rate of 23.1% was nearly double the 13.0% recorded in Q2 2025, indicating that more sellers had to adjust expectations before finding a buyer. That said, the rate improved significantly from the 36.3% seen in Q1 2026, suggesting that spring sellers calibrated better than their winter counterparts.

Single-family sellers saw 21.4% of transactions involve a price cut (up from 20.8% a year ago), while condo sellers experienced a 23.6% reduction rate (up from 10.2%). The condo shift is the more dramatic change — more than doubling year over year — and reflects the median price decline from $1,100,000 to $967,000. Sellers who listed at last year’s comparable prices often had to adjust downward. The average sale-to-list ratio for condos was 1.0038, meaning that once prices were set correctly, buyers still paid at or slightly above asking.

For single-family homes, the median sale-to-list ratio was 1.00 and the average was 0.9971 — essentially at asking. The 42.9% over-asking rate for single-family homes was actually higher than Q2 2025’s 33.3%, which suggests that well-priced single-family listings attracted competitive offers even as the broader market softened. Brookline’s recent $23.25M tax override adds a new variable for sellers to consider: buyers are now factoring in higher future property taxes, which may be contributing to the median price adjustments.

Risk & Watch Items

Tax override impact on affordability. Brookline voters approved a $23.25M phased tax override in May 2026. The resulting property tax increases will raise carrying costs for all owners and may be contributing to the 10.7% year-over-year decline in townwide median sale price. Buyers are likely discounting future tax obligations into their offers. Sellers should anticipate this adjustment continuing through the override’s phase-in period.

Rent-control legislation remains pending. While the statewide rent-control ballot measure was removed, Brookline’s separate rent-stabilization bill (S.960) remains alive in the legislature. If enacted, it could affect investor demand for condominiums used as rentals and multifamily properties. The 368 rental leases signed in Q2 2026 (up 7.9% year over year) show continued strong tenant demand, but landlords and investors should monitor this legislation closely.

Condo fee trajectory. Median condo fees came in at $618.01 in Q2 2026, up from $524.85 a year ago — an increase of roughly 18%. Rising insurance premiums, energy costs, and deferred maintenance reserves are driving this trend. Combined with the tax override, total monthly carrying costs for condo owners are climbing faster than unit values, which may pressure resale pricing. Our coverage of the Brook House oil spill highlights additional environmental due-diligence risks for condo buyers near waterways.

Luxury outlier distortion. The average sale price ($1,635,668) exceeds the median ($1,250,000) by more than 30%, indicating that a handful of high-end transactions are pulling the average upward. Readers should rely on median figures for a more accurate picture of the typical Brookline transaction.

Mortgage rate sensitivity. At the assumed 6.49% rate, the estimated monthly P&I payment on the townwide median sale is $6,314. Single-family buyers face an estimated $12,856 monthly P&I burden. Any upward rate movement would further compress affordability. Our mortgage rate outlook explores the factors that could move rates in either direction.

Forecast

Price outlook: The 10.7% year-over-year decline in townwide median price is the headline number, but context matters. Average price per square foot actually rose 1.0% year over year to $844, suggesting that the median decline is partly a mix shift — fewer ultra-high-end closings rather than broad-based depreciation. We expect median prices to stabilize in Q3 2026 as the tax override gets priced in and buyers adjust to the new carrying-cost reality. The Chestnut Hill rezoning approval could add meaningful new supply over the medium term, but construction timelines mean any impact on pricing is years away.

Volume outlook: Q2 2026’s 169 closed sales were down 8.6% from 185 a year ago. Mortgage rates near 6.49% continue to suppress both move-up activity and first-time buyer entry. If rates ease toward 6.0% — a scenario explored in our rate outlook — we would expect a meaningful volume rebound. Absent that, Q3 2026 volume will likely track close to Q3 2025’s 163 sales, with seasonal deceleration in late summer.

Segment divergence: The condo market (3.2 months of supply) remains tighter than the single-family market (5.1 months). We expect this gap to persist. Condo buyers should prepare for competition on well-priced units under $1M, while single-family buyers above $2.5M will continue to have more negotiating leverage. The new ADU rules approved at Town Meeting could gradually add rental income potential to single-family properties, supporting values in that segment over time.

Disclosure: This forecast reflects current data and the author’s professional judgment. Real estate markets are influenced by macroeconomic conditions, interest rate policy, local legislation, and other factors beyond any individual’s control. Past performance does not guarantee future results. Consult a qualified professional before making real estate decisions.

Methodology

Data source: All transaction data is sourced from MLS Property Information Network (MLS PIN), extracted on July 2, 2026. The reporting period covers closed sales with a sale date between April 1, 2026 and July 1, 2026 (Q2 2026). Year-over-year comparisons reference Q2 2025 (April 1, 2025 – July 1, 2025). Quarter-over-quarter comparisons reference Q1 2026 (January 1, 2026 – April 1, 2026).

Composition: Q2 2026 included 169 closed residential sales: 42 single-family and 127 condominium. 3 multifamily transactions and 368 rental leases were tracked separately and are not part of the townwide residential count.

Definitions: “Townwide residential” includes single-family and condominium closed sales only. Multifamily and rental data are reported in dedicated sections and are never included in townwide totals. Median sold price, average price per square foot, days on market, and sale-to-list ratios are calculated from closed-sale records only. Active inventory and months of supply are point-in-time snapshots as of the period end date. Months of supply equals active inventory divided by the quarter’s monthly closing rate. Affordability estimates assume a 20% down payment and a 30-year fixed rate of 6.49% (FRED/MORTGAGE30US); they reflect principal and interest only and exclude taxes, insurance, HOA fees, and PMI.

Sample-size caution: Neighborhood and school-zone breakdowns involve small samples. Any cohort with fewer than 5 closed sales is flagged, and no directional conclusions are drawn from such cohorts. Multifamily data (3 sales in Q2 2026) is anecdotal only. Average sale price exceeds median by more than 30%, indicating luxury outlier distortion; median figures are more representative of the typical transaction.

School zones: Brookline has 8 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. School-zone boundaries are based on the Town of Brookline’s official assignment map.