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Terrence Maitland's Boston Real Estate Blog

Middlesex County Real Estate News: High-End Market Watch, First Half, 2000-2015
By LandVest

MC_Header_HRMarket Highlights

  • High-end sales at record volumes, twice the average for 2000-2015.
  • Inventories also at record levels.
  • Top sale for the first half of the year: $10,300,000, 67 Byron Road, Weston.
  • LandVest’s markets continue to improve in volume, turnover, and with significant record sales. Special properties, expertly presented, reaching out to a broad market with a strong value proposition, are well received by the market.

 

Active Listings and Sales, $2,000,000+, First Half, 2000-2015

In Middlesex County, Massachusetts, in the first half of 2015 the inventory of high-end listings grew to a record level of 259 listings, a significant increase from 233 listings at this time last year and 198 in 2013.

Sales volume exploded setting a new record with 102 sales vs. the previous records of 65 sales in 2014 and a half-year average of 50 for the period 2000-2015.
 

Highest And Average Sale, $2,000,000+, First Half, 2000-2015

In the first half of 2015, the top sale in Middlesex County was $10,300,000 for 67 Byron Road in Weston. This extraordinary whimsical contemporary consists of 19,000 square feet on 7.5 acres with all the bells and whistles. It was originally listed for $17,000,000 in 2013. Of the 102 high-end sales, 74 were in the $2-3,000,000 range, 20 were in the $3-4,000,000 range, and at $4,000,000 and above there were 8 sales. The average sale price was $2,817,313.
 

Days On Market, Sales, $2,000,000+, First Half, 2000-2015

After five years with increasingly quicker sales, days on market for high-end sales increased to 159 in the first half of 2015 from 116 in 2014 and remain lower than the average from 2000-2015 of 178.

 

Sales by Town, $2,000,000+, First Half, 2000-2015

Eleven of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in the first half of 2015: Belmont, Cambridge, Concord, Lexington, Lincoln, Newton, Sherborn, Sudbury, Wayland, Weston, and Winchester.

Over the period 2000-2015, Newton is the leader with 221 sales followed by Weston (190), Cambridge (122), and Concord (79). For the first half, Newton’s activity was particularly strong with 44 sales compared to 17 last year.

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The LandVest High-End Market Watch is a periodic review of select high-end markets in Maine, Massachusetts, New Hampshire, Vermont and the Adirondacks. Market data are collected from Multiple Listing Services and do not include private listings. LandVest makes no representation as to the accuracy of the data and therefore is not responsible for any actions taken as a result of use of or reliance on this information.

For additional information about LandVest’s brokerage, real estate consulting, and appraisal services,
please contact:

Stewart Young | (syoung@landvest.com) | 617-359-8930
or click here to view Stewart’s current Real Estate listings.

 

 

 

 

 

 

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