HIGH-END $2,000,000+ MARKETS HIGHLIGHTS
- Inventory up 18% (Record 334 vs record 284 last year).
- Sales up 8% (Record 146 vs record 135 last year).
- Top Sale: $7,200,000, 5 Fayerweather Street near Brattle, Cambridge, 1894 Victorian with 5 bedrooms on a quarter-acre lot.
- LandVest’s markets continue to perform strongly with significant record sales.
- For the first half of 2019, growing inventory and demand suggest a balanced market, but buyers at the high end continue to be value conscious and have little tolerance for compromise. As usual special properties, expertly presented, reaching out to a broad market with a strong value proposition, will be well received by the market.
In Middlesex County, Massachusetts, at the end of the first half of 2019, the inventory of high-end listings increased 18% to a record 334 listings compared to the record 284 last year.
Sales in the first half of 2019 increased by 8% to a record 146 compared to a record 135 last year. Since 2010 there have been on average 84 sales at the end of the first half. The vast majority (69%) of these sales were in the $2-$3 million range. Seven sales were above $5,000,000, only one above $7,000,000.
First Half 2019 Top Sale
Property: 5 Fayerweather Street, near Brattle • Town: Cambridge • Selling price: $7,200,000.
1894 Victorian with 5 bedrooms on a quarter-acre lot, on market 69 days – Source: MLS
Highest & Average Sale
Days on Market
Days on market for high-end sales at the end of the first half 2019 decreased by 24% to 113 compared to 148 last year, the record high of 258 in 2009, record low of 66 in 2001, and the 10-year average of 148.
Sales by Town
Eleven of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in the first half of 2019. Most of these markets grew compared to last year and their 10-year averages. Weston fell back to 21 sales after having a remarkable 27 sales in the first half last year and a 10-year average of 15 sales.
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