Middlesex County, MA Real Estate News: High-End Real Estate Market Watch, First Three Quarters, 2000-2015

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 three quarters 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+, Q1-Q3, 2000-2015

In Middlesex County, Massachusetts, at the end of September there were 245 listings, a record level for this time of year. Last year at this time there were 225 listings, 183 listings in 2013, and 146 in 2012.

Sales volume exploded setting a new record with 162 sales vs. 113 last year, and the previous record of 114 sales in 2013. For the period 2000-2015, on average there were 85 sales at the end of the third quarter.

Of the 162 high-end sales, 123 were in the $2-3,000,000 range, 27 were in the $3-4,000,000 range, At $4,000,000 and above, there were 12 sales, 4 were above $6,000,000.

Highest & Average Sale, $2,000,000+, Q1-Q3, 2000-2015

In the first three quarters 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 and is assessed for $14,197,400. The average sale price was $2,792,161.

Days On Market, Sales, $2,000,000+,
Q1-Q3, 2000-2015

Days on market for high-end sales increased to 143 in the first three quarters of 2015 from 110 in 2014, but remain lower than the average from 2000-2015 of 169..

Sales by Town, $2,000,000+, Q1-Q3, 2000-2015

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

Over the period 2000-2015, Newton is the leader with 371 sales followed by Weston (321), Cambridge (207), and Concord (147). For the first three quarters of 2015, Newton’s activity was particularly strong with 63 sales compared to 33 last year. Weston also grew significantly with 34 sales this year compared to 26 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.