- Through the third quarter of 2015 $2,000,000+ sales were at record levels
- Inventories were 23% below the same period last year
- The top sale in Norfolk County through the third quarter of 2015 was $13,500,000 for 101 Fernwood Road in Brookline, LandVest brought the buyers.
- LandVest’s markets continue to improve in volume, turnover, and with significant record sales. Special properties, expertly presented to a broad market with strong value propositions are well received.
In Norfolk County, there were 141 high-end listings in the third quarter 2015, down from 181 during the same period last year. Inventories continue to shrink.
The 144 sales of $2 million+ properties in first three quarters far out-stripped all previous records. The previous record was 100 sales in 2014. The average of sales through the third quarter from 2006 through 2015 was 79.
The top sale in Norfolk County for the first three quarters of 2015 was $13,500,000 for 101 Fernwood Road in Brookline. Set on a beautiful, secluded four-acres and designed by architect Adolfo Perez it offered a level of excellence rarely experienced. LandVest was the selling broker.
Of 144 high-end sales through the third quarter, 104 were below $3,000,000, 29 were between $3,000,000 and $3,999,999 and 14 were at or above $4,000,000. The average sale price was $2,933,497.
The first half of 2015 averaged 198 days on the market. The third quarter averaged 162 days. Strong demand is resulting in quicker sales.
Eight of the 28 cities and towns in Norfolk County had high-end sales in the first three quarters of 2015: Brookline, Cohasset, Dedham, Dover, Milton, Needham, Wellesley, and Westwood.
Over the period 2006-2015 for Norfolk County, Wellesley lead with 265 sales followed by Brookline (232), Cohasset (34), Dover (35), Needham (35), and Westwood (25).
For the first three quarters of 2015, Brookline’s activity was particularly strong with 65 sales compared to 49 at this time last year. Needham was strong as well with 14 sales in the first three quarters compared with one at this time last year. Cohasset, Dedham, Dover, Milton, Wellesley and Westwood either matched or exceeded last year’s first three quarters.
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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