Middlesex County | Massachusetts High-End Market Watch, Year End 2017

Market Highlights

Inventory up 20% (177 vs 147 last year).
Sales up 1% (230 vs 227 last year).
Top sale: $15,600,000 – 5 Concord Road, Weston.
LandVest’s markets continue to perform strongly 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

In Middlesex County, Massachusetts, the 2017 year-end inventory of high-end listings grew by 20% to a record level of 177 listings compared to 147 last year. On average, since 2008, there have been 125 listings at year-end.

High-End Sales

For the third year in a row – there were a record number of sales at year-end: 230 in 2017, 227 in 2016, and 215 in 2015. On average since 2008, there have been 142 sales at year-end.

Year End 2017 – Top Sale

Property: 5 Concord Road • Town: Weston • Selling price: $15,600,000
Modelled after Westover Plantation in Virginia, this brick Georgian mansion was built in 1929 with 12,589 sq ft on 18.5 acres. Elegantly restored and up-to-date, it includes a 2,000-sq-ft pool house and a 4-bay carriage house.

Middlesex County, first half-year 2017 market report, top sale — Source: MLS

Highest & Average Sale

Days on Market

Days on market for high-end sales are improving, decreasing to 143 from 145 last year and are substantially below the average from 2008-2017 of 166. The range is remarkably wide with sales occurring from 1 day to more than 48 months.

Sales by Town

Eleven of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in 2017: Belmont, Cambridge, Carlisle, Concord, Lexington, Lincoln, Newton, Sudbury, Wayland, Weston, and Winchester. Concord was down with 12 sales compared to a record 23 sales last year and a 10-year annual average of 12 sales. Lexington had a record year with 32 sales compared to its 10-year annual average of 15 sales. Newton set a record with 84 sales compared to 64 last year and a 10-year annual average of 44 sales. Winchester has been remarkably hot over the past three years with a record 17 sales in 2017 compared to a 10-year annual average of 7 sales.