The Brentwood real estate market in 2023 has displayed some distinct trends across various segments. As of August 2023, there were 113 properties listed in Brentwood, with over half being single-family homes, and a significant portion of these were high-value properties listed above $10 million. The market as of September 2023 showed a downturn in home prices compared to the previous year, with a 14.9% decrease in median home prices to $1.1 million. Additionally, homes were taking longer to sell, averaging 75 days on the market compared to 64 days in the previous year, and the number of homes sold decreased significantly.
The Brentwood housing market is characterized as very competitive, with homes typically receiving multiple offers and selling in about 17 days. The median sale price as of last month was $753,000, a 9.5% decrease from the previous year. However, the median sale price per square foot increased by 4.9% to $384. This trend is observed across different Brentwood locations, such as in Tennessee and California, both described as seller's markets. In Brentwood, Tennessee, the median sold price was over $1 million, showing a slight decrease from the previous year, while in Brentwood, California, the median sold price was $775,000, also indicating a decrease. Despite the overall decline in prices, the market remains competitive, with high demand and relatively quick sales.