Market Highlights
- First half volume of $2,000,000+ sales was strong (100 vs peak 102 sales in 2015).
- Record inventories (277 listings vs 259 last year).
- Top sale for the first half: $6,700,000, 383 River Road, Carlisle.
- First quarter inventories grew 46% compared to a year ago.
- LandVest’s markets continue to improve in volume, turnover, and 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 & Sales, $2,000,000+ | First Half, 2000-2016
In Middlesex County, Massachusetts, in the first half of 2016, the inventory of high-end listings grew for the 4th year in a row to 277, a record level. 168 of the listings were in the $2-3,000,000 range, 82 were in the $3-5,000,000 range, 21 were in the $5-10,000,000 range, and 6 were over $10,000,000.
Sales in the first half of 2016 were strong with 100 sales vs. 102 in the first half of 2015 and 65 in the first half of 2014. Of the 100 sales, 74 were in the $2-3,000,000 range, 23 were in the $3-5,000,000 range, and 3 were in the $5-7,000,000 range.
Featured Properties
| 680 Strawberry Hill Road Concord, MA | $3,900,000 |
Nashawtuc Hill Estate Concord, MA | $2,650,000 |
301 Musterfield Road Concord, MA | $1,995,000 |
Highest and Average Sale, $2,000,000+, First Half, 2000-2016
In the first half of 2016, the top sale in Middlesex County was $6,700,000 for 383 River Road in Carlisle. The 1992 Georgian mansion has 10,680 sq ft, an attached apartment above a 3 car garage, a separate 2 car carriage house, and pool. The house is sited on 8.3 acres with an additional 18.5 acres. The average sale price was $2,777,389.
Days on Market, Sales, $2,000,000+, First Half, 2000-2016
Improving demand is resulting in quicker sales. Days on market for high-end sales decreased to 137 in the first half of 2016 from 159 in the first half of 2015 and are lower than the average from 2000-2016 of 176.
Sales by Town, $2,000,000+, First Half, 2000-2016
Thirteen of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in the first half of 2016: Belmont, Cambridge, Carlisle, Concord, Framingham, Hopkinton, Lexington, Natick, Newton, Sherborn, Wayland, Weston, and Winchester.
Over the period 2000-2016, Newton is the leader with 251 sales followed by Weston (206), Cambridge (138), and Concord (87). Cambridge has significantly improved this year, while Newton, Weston, and Concord have declined compared to last year.
The LandVest High-End Market Watch is a periodic review of select high-end markets in Maine, Massachusetts, New Hampshire, Vermont and the Adirondacks. Market data are collected from Multiple Listing Services and do not include private listings. LandVest makes no representation as to the accuracy of the data and therefore is not responsible for any actions taken as a result of use of or reliance on this information.
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.
