Middlesex County Real Estate News: High-End Market Watch, First Three Quarters, 2000-2014

MM_Header_HRMarket Highlights

  • The volume of high-end $2,000,000 + sales was at record levels.
  • First half inventories are also at record levels.
  • Top sale for the first three quarter: $12,500,000, 63 Winsor Way, 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+, Q1-Q3, 2000-2014

In Middlesex County, Massachusetts, in the first three quarters of 2014 the inventory of high-end listings was sustained at nearly a record level of 225 listings, a significant increase from 183 listings at this time last year.

Sales volume was at nearly record levels for this time of year with 113 sales compared to 114 last year. The previous record was 105 sales in 2007 and an annual average for the period 2000-2014 is 80 sales.

Highest And Median Sale, $2,000,000+, Q1-Q3, 2000-2014

In the first three quarters of 2014, the top sale in Middlesex County was $12,500,000 for 63 Winsor Road in Weston. Located in the golf club area of Weston, the property consists of more than 4 acres and a 1998 Georgian brick manor house of almost 22,000 square feet.
Of the 113 high-end sales, 86 were below $3,000,000, 17 were in the $3,000,000 to $3,999,999 range, and at $4,000,000 and above there were 10 sales. The average sale price was $2,834,331.

Days On Market, Sales, $2,000,000+, Q1-Q3, 2000-2014

Improving demand is resulting in quicker sales. Days on market for high-end sales decreased to 110 in the first three quarters of 2014 from 156 in 2013 and are lower than the average from 2000-2014 of 170.

Sales by Town, $2,000,000+, Q1-Q3, 2000-2014

Ten of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in the first three quarters of 2014: Belmont, Cambridge, Concord, Lexington, Lincoln, Newton, Sherborn, Wayland, Weston, and Winchester.

Over the period 2000-2014, Newton is the leader with 308 sales followed by Weston (287), Cambridge (189), and Concord (135). For the first three quarters, Weston’s activity was particularly strong with 26 sales compared to 19 at this time last year. Belmont and Lincoln are lagging compared to nearly record performance 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.