HIGH-END $2,000,000+ MARKET HIGHLIGHTS
- Inventory up 33% (Record 428 vs record 323 last year).
- Sales up 8% (Record 117 vs record 108 last year).
- Top Sale: $10,500,000, 10 Appleton Street, Cambridge.
- 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.
HIGH-END LISTINGS ACTIVE AND PENDING
At the end of the first quarter, the inventory of high-end listings, active and pending, increased 33% to a record 428 listings compared to a record 323 last year. Over the past 10 years there have been on average 263 listings at this time. The majority (56%) of these listings are in the $2-$3 million range and 79% are in the $2-$4 million range. Thirteen percent are $5,000,000 +, 6% at $7,000,000+, and 3% at $10,000,000+. Inventories dipped in Q1 2022, but have been strong in every quarter since then.
High-End Sales
Sales at the end of the first quarter increased by 8% to a record 117 compared to 108 last year. Over the past 10 years, there have been an average 69 sales at this time. The majority (66%) 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 3% were above $7,000,000+. Sales dipped in Q1 2023 but recovered through the year with record levels since Q1 2024.
Top Sale – First Quarter 2025
10 Appleton Street
Town: Cambridge
Selling price: $10,500,000
Classic gambrel colonial style residence
on 0.3 acres in one of the most desirable
neighborhoods in Cambridge. Built in 1894
with 5,822 sqft with 5 bedrooms. Originally
priced at $12,000,000 and on the market for
193 days.
Highest & Median Sale – First Quarter 2025
Days on Market
Days on market for high-end sales at the end of the first quarter decreased to 92 compared to 86 last year, the 10-year record high of 204 in 2018, and the 10-year average of 127. The range of days on market is wide, from 1 to 364 days.
Sales by Town
Fifteen of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in the first quarter. Newton leads with 36 sales compared to 34 sales last year. Lexington followed with 16 sales compared to 17 sales last year. Tied with 12 sales each, Cambridge and Winchester improved significantly with 6 and 7 sales last year.
