Active Listings and Sales, $2,000,000+, First Half, 2000-2014
In Middlesex County, Massachusetts, in the first half of 2014 the inventory of high-end listings grew to a record level of 233 listings, a significant increase from 198 listings at this time last year. The majority of these listings (148) are in the $2,000,000 to $2,999,999 range. 43 are in the $3,000,000 to $3,999,999 range and 42 are in the $4,000,000+ range. Only 4 are at or above $10,000,000.
Sales volume set a new record with 65 sales vs. the previous records of 61 sales in 2013 and 2007 and an annual average of 46 for the period 2000-2014. Of the 65 high-end sales, 46 were in the $2,000,000 to $2,999,999 range, 14 were in the $3,000,000 to $3,999,999 range, and at $4,000,000 and above there were 5 sales.
Highest And Median Sale, $2,000,000+, First Half, 2000-2014
In the first half of 2014, the top sale in Middlesex County was $6,500,000 for 85 Sparks Street in Cambridge. This elegant 1877 Mansard roof Victorian is located in the Brattle Street section of Cambridge on a half acre lot with formal gardens, a conservatory, and a 2 car garage. The average sale price was $2,824,268.
Days On Market, Sales, $2,000,000+, First Half, 2000-2014
Improving demand is resulting in quicker sales. Days on market for high-end sales decreased to 116 in the first half of 2014 from 118 in 2013 and are lower than the average from 2000-2014 of 179.
Sales by Town, $2,000,000+, First Half, 2000-2014
Ten of the 54 cities and towns in Middlesex County, Massachu-setts, had high-end sales in the first half of 2014: Belmont, Cam-bridge, Concord, Lexington, Lincoln, Newton, Sherborn, Wayland, Weston, and Winchester.
Over the period 2000-2014, Newton is the leader with 177 sales followed by Weston (171), Cambridge (112), and Concord (68). For the first half, Weston’s activity was particularly strong with 15 sales compared to 6 last year.
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.
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