Norfolk County | Massachusetts High-End Market Watch, First Three Quarters 2017

Market Highlights

2017 $2,000,000+ sales were at record levels
Number of properties sold Q1 through Q3 was 12% above the same period in 2016.
The top sale in Norfolk County so far in 2017 was $6,600,000 for 181 Clyde St. in Brookline
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

Active Listings

In Norfolk County, there were 193 high-end listings in the 3rd quarter 2017, up from 157 during the same period in 2016.

High-End Sales

The 160 sales of $2 million+ properties through Q3 of 2017 exceeded all previous records. The previous Q3 record was 147 sales in 2016. The average number of $2 mil+ sales through Q3 from 2007 through 2017 was 87.

In Q4 LandVest Set a New Record Sale in Medfield

Medfield will enter the ranks of $2m+ sales in Q4 with the sale of Round Lot Farm, sold by Jay Boyle and J. Stanley Edwards.

6,700± sq. ft. Georgian Colonial equestrian estate set on 38 acres of meadows, woodlands and sustainable gardens. Eight-stall, custom-designed Blackburn barn. Space for a caretaker, three dry paddocks, eight grass paddocks, outdoor riding ring and direct access to 160 acres of deed-restricted Norfolk Hunt land and to a network of over 100 miles of horse trails.

Property: Round Lot Farm • Town: Medfield • Selling price: $4,800,000

Highest & Median Sale

There were 160 high-end sales in Q3 2017. The average sale price was $2.8 million.

Days on Market

As of Q3, the 2017 Days on Market averaged 156 days which was slightly up from the 2016 average of 145 days. Improved demand is evidenced by a 12% increase in sales over the same period last year.

Sales by Town

Eight of the 28 cities and towns in Norfolk County had high-end sales through Q3 of 2017: Brookline (60), Cohasset (11), Dedham (3), Dover (7), Milton (1), Needham (7), Wellesley (59), and Westwood (4).