Market Highlights
HIGH-END $2,000,000+ MARKETS HIGHLIGHTS
- Inventory down 4% (223 vs 233 last year).
- Sales up 42% (44 vs 31 last year).
- Top sale: $7,500,000 – 80 Highland Street, 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, in the first quarter of 2018 the inventory of high-end listings decreased to 223 listings, compared to 233 last year (down 4%) and the record level of 267 listings in 2016.
On average since 2009 there have been 183 listings at the end of the first quarter
High-End Sales
Sales in the first quarter of 2018 increased significantly to a record 44 sales, compared to 31 last year. The previous record was 40 sales in 2015. On average, since 2009 there have been 25 sales at the end of the first quarter
First Quarter 2018 Top Sale
Property: 80 Highland Street • Town: Weston • Selling price: $7,500,000
Contemporary built in 2013 with 12,870 square feet on 2.75 acres. Slick, modern interior with beautiful features like a Poggenpohl kitchen. Originally listed at $11,500,000 in 2016.
Highest & Average Sale
Days on Market
Days on market for high-end sales in the first quarter increased to 204 from 189 last year and are 13% above the 2009-2018 average of 180.
Sales by Town
Ten of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in the first quarter of 2018: Arlington, Belmont, Cambridge, Concord, Lexington, Lincoln, Newton, Sherborn, Weston, and Winchester. Arlington recorded its first sale above $2,000,000 (per MLS). Listed at $1,898,000, the property was new construction with views of Spy Pond and the Boston skyline. It sold for $2,260,000 with 6 days on market. Other towns with strong performance were Newton with 13 sales vs a 10 year average of 7 sales and Weston with 14 sales compared to a 10 year average of 5 sales.
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- 50 BARNES HILL ROAD Concord | $1,425,000
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- 7 PINE SUMMIT CIRCLE Weston | $3,350,000
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- 136 & 132 WESTON ROAD Lincoln | $3,890,000
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.
