Market Highlights
HIGH-END $2,000,000+ MARKET HIGHLIGHTS
- Inventory up 16% (Record 206 vs record 178 last year).
- Sales up 27% (Record 751 vs 592 last year).
- Top Sale: $10,750,000, 80 Orchard Ave, Weston.
- Buyers and sellers continue to increase their activity resulting in record inventories and sales.
- As usual special properties, expertly presented, reaching out to a broad market with a strong value proposition, will have a competitive advantage.
Active Listings
At year end, the inventory of high-end listings increased 16% to a record 206 listings compared to a record 178 last year. Over the past 10 years there have been on average 163 listings at this time. The majority (55%) of these listings are in the $2-$3 million range and 77% are in the $2-$4 million range. Fifteen percent are $5,000,000 +, 6% at $7,000,000+, and 3% at $10,000,000+. Inventories dipped in 2020 and 2021, but have been improving since Q2 2022.
High-End Sales
Sales at year end increased by 27% to a record 751 compared to 592 last year. Over the past 10 years there have been on average 423 sales at this time. The majority (71%) of these sales were in the $2-$3 million range and 88% were in the $2-$4 million range. Five percent were $5,000,000+ and 2% were above $7,000,000+. After a dip in sales last year, in 2024 we saw strong demand with record inventories and sales in every quarter.
Top sale — 2024 Year End
Property: 80 Orchard Ave
Town: Weston
Selling price: $10,750,000
Historic Ridgehurst Estate 1883 Shingle Style 12,000 sq ft residence on 4.1 acres in a premium neighborhood in a premium town, city skyline views.
Highest & Average Sale — 2024 Year End
Days on Market
Days on market for high-end sales at year end decreased to 63 compared to 70 last year, the 10-year record high of 153 in 2015, and the 10-year average of 102. The range of days on market is wide, from 0 to 639 days.
Sales by Town
Thirty of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales. Newton leads with 211 sales compared to 173 sales last year, a 22% jump, and a 10-year average of 129 sales. Lexington followed with 105 sales, up 11%, Weston with 67, down 14%, Winchester with 63, up 80%, Concord with 62, up 27%, and Cambridge with 60, up 36%. Together these six towns made up 76% of the high-end sales in Middlesex County. Twelve towns have had less than 10 high-end sales over the past 10 years. All have had at least one.
Sales by Town
>1 Total Sales
AVAILABLE | Concord, MA | $6.95M
AVAILABLE | Ashby, MA | $2.3M
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.
