High-End $2,000,000+ Market Highlights
- Inventory down 14% (256 vs 296 last year).
- Sales up 115% (Record 268 vs record 119 last year).
- Top sale: $9,900,000 – 152 Suffolk Road, Chestnut Hill.
- Middlesex County’s high-end market continues to perform strongly fueled by low interest rates and a strong stock market
- COVID-driven demand for suburban refuge and home-work balance remains a factor in the market. As usual special properties, expertly presented, reaching out to a broad market with a strong value proposition, will have a competitive advantage.
In Middlesex County, Massachusetts, at the end of the first half 2021, the inventory of high-end listings decreased 14% to 256 listings compared to 296 last year and a record 334 in 2019. Since 2012, there have been on average 258 listings at the end of the first half. While inventories of active listings are strong, some markets continue to report tight inventories.
Sales in the first half of 2021 increased by 115% to a record 268 compared to 119 last year and a record 146 in 2019. Since 2012 there have been on average 115 sales at the end of the first half. The majority (68%) of these sales were in the $2- to $3-million range. Seven sales were above $5,000,000. It appears that 2021 will continue this record sales performance with 130 properties under agreement at the end of Q2.
First Half 2021 Top Sale
Property: 152 Suffolk Road • Town: Chestnut Hill • Selling price: $9,900,000
Mission-style estate built in 1904 with 14,000 sq ft, 7 bedrooms and 12 baths, recently completely renovated. Sited on 1.6 acres in the heart of the Chestnut Hill Historic District. Originally priced at $12,000,000 and on the market for 429 days.
Highest & Median Sale
Days on Market
Days on market for high-end sales at the end of the first half 2021 decreased to 70 compared to 125 last year, the record high of 258 in 2009, and the 10-year average of 126. The range of days on market has narrowed considerably from 1 to 562 days versus up to several years previously.
Sales by Town
Eighteen of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in the first half of 2021. Almost all improved their performance over last year. Newton’s sales grew by 163% (32 to 84). Other percent leaders were Lexington 129% (21 to 48), Winchester 111% (9 to 16), Weston 105% (18 to 37), Concord 69% (13 to 22), and Cambridge 47% (15 to 22).
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