Middlesex County, MA Real Estate News: High-End Real Estate Market Watch, Year End, 2000-2015

MC_Header_HRMarket Highlights

  • Record number of high-end $2,000,000 + sales in 2015.
  • Inventories also at record levels.
  • Top sale for 2015: $10,300,000, 67 Byron Road, Weston.
  • Demand is strong for special properties in turnkey condition with strong value propositions.

 

Active Listings and Sales, $2,000,000+, Year End, 2000-2015

In Middlesex County, Massachusetts, in 2015 the inventory of high-end listings increased to a record level of 159 listings, compared to the previous record of 138 listings last year. At mid year there were 259 listings. Most of the high-end market is in the $2-3,000,000 range with 96 listings (60%). There are 44 listings (26%) in the $3-5,000,000 range, 16 (10%) at $5-10,000,000, and 3 (2%) above $10,000,000.

Sales in 2015 were also at record levels with 215 sales compared to 161 last year, 142 sales in 2013, and an annual average for the period 2000-2015 of 108 sales.

 

Highest & Average Sale, $2,000,000+, Year End, 2000-2015

The top sale in Middlesex County in 2015 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.

Of the 215 high-end sales, 160 (74%) were in the $2-3,000,000 range, 49 (23%) in the $3-5,000,000 range, 5 (2%) in the $5-10,000,000 range, and 1 (0.5%) above $10,000,000. The average sale price was $2,794,350.

 

Days On Market, Sales, $2,000,000+,
Year End, 2000-2015

Improving demand is resulting in quicker sales. Days on market for high-end sales in 2015 increased to 153 from 127 in 2014 and are lower than the average from 2000-2015 of 172.

 

Sales by Town, $2,000,000+, Year End, 2000-2015

Twelve of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in 2015: Belmont, Cambridge, Carlisle, Concord, Lexington, Lincoln, Newton, Sherborn, Sudbury, Wayland, Weston, and Winchester.
Over the period 2000-2015, Newton is the high-end sales leader with 454 sales followed by Weston (398), Cambridge (275), and Concord (183). For 2015, Newton’s activity was particularly strong with 75 sales compared to 43 in 2014 and its previous record of 49 sales in 2013. Weston continued to improve with 47 sales compared to 33 last year and 26 in 2013. Likewise, Lexington maintained a high level of performance with 20 sales having jumped from 12 in 2013 to 23 in 2014.

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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.