LandVest Corporate Headquarters: Ten Post Office Square, Boston, MA 02109     Phone:(617) 723-1800
 
Jul
29
Middlesex County, MA Real Estate News: High-End Market Watch, First Half, 2000-2011
By LandVest
 

Middlesex County, Massachusetts is the most populous county in New England and is located west and northwest of Boston. It contains some of the wealthier towns in Massachusetts and was recently ranked tenth in the country in terms of the number of millionaires. It includes urban, suburban and rural areas reaching from urban Cambridge, home of Harvard University and the Massachusetts Institute of Technology, to the New Hampshire border. Along Route 95/128, towns with high-end real estate include Belmont with its attractive historic Belmont Hill section, Lexington of Revolutionary fame, Newton, particularly the Chestnut Hill area and home to Boston College, and Winchester with wonderful vistas across the Mystic Lakes. Between Route 95/128 and Route 495, along the Route 2 and Route 20 corridors, Carlisle, Concord, Lincoln, Sudbury, Wayland and Weston are small historic towns that have maintained a sense of their rural past. Sherborn is an anomaly linked more to the neighboring equestrian towns of Dover and Medfield in Norfolk County. Outside Route 495, Groton is notable for its early nineteenth century architecture, substantial farmland and two highly-regarded boarding schools: Groton School and Lawrence Academy.

Active Listings and Sales, $2,000,000+, First Half 2000-2011

In Middlesex County, Massachusetts, in the first half of 2011 the inventory of high-end listings grew to record levels (193 vs.183 listings in 2010). The first quarter of 2011 had experienced a dramatic decrease in high-end listings down to nearly record lows of 130 so the second quarter was particularly active in terms of new listings coming on the market.

First half high-end sales are slightly higher than last year (42 vs. 40 in 2010) and about at average levels for the past 12 years. Peak high-end sales for the first two quarters occurred in 2007 with 61 sales and in 2005 with 60 sales. The first quarter of 2011 started off more strongly than 2010 and several record sales created an optimistic buzz in the brokerage community. While the second quarter did not keep up this accelerated pace and the number of sales is off approximately 30% from the peak, the high-end market in Middlesex County appears to have stabilized at a very healthy level.

Highest And Average Sale, $2,000,000+, First Half, 2000-2011

Sale prices for the first two quarters peaked in 2005 to 2007 at the $6,000,000 to $7,000,000 level with an anomalous $10,000,000 sale in 2008. In 2011, the top sale to date was a record $15,600,000 in Weston. There was another nearly record sale in Weston at $8,350,000. Average first half sale prices have been generally more stable in the range of $2,700,000 to $2,900,000 over the past 10 years. In the first half of 2011 the average sale price was $3,067,976, skewed by these two exceptional sales.

Days On Market, Sales, $2,000,000+, First Half, 2000-2011

Days on market for first half high-end sales have varied considerably over the past 12 years. Average days on market for the first half of 2011 were 197 vs. 216 in 2010, 258 in 2009 and 186 in 2008. The average days on market for the first half over the period 2000-2011 was 194. Despite the continued uncertainty in the market, special properties expertly presented and well priced are selling, but it can take time. Buyers continue to demand value and are leery of projects. Land had been mixed with developers being particularly risk averse.

Sales By Town, $2,000,000+, First Half, 2000-2011

Nine of the 54 cities and towns in Middlesex County, Massachusetts had high-end sales in the first half of 2011. Newton was the leader with 14 sales followed by Weston (8), Cambridge (5), Belmont (4), Lexington (4), Winchester (3), Concord (2), Sherborn (1), and Sudbury (1). For first half sales over the period 2000-2011, the leaders are Weston (134), Newton (116), Cambridge (76), Concord (49), and Lexington (38), and Lincoln (22). On a population-adjusted basis, Weston remains the sales leader followed by Concord and Lincoln.

Stonegate Farm is currently for sale in Wayland, MA

River Road Farm is currently for sale in Carlisle, MA

Click for more information about Middlesex County Real Estate for sale.

This post was brought to you by Stewart Young (syoung@landvest.com).  Whether it’s an elegant Greek Revival in Lincoln, a 130 acre farm in Medfield, or a waterfront summer estate on Stage Harbor in Chatham, Stewart advises buyers and sellers of some of the most distinctive properties in Massachusetts with a focus on Cape Cod, and the Metro West area of Boston.  View Stewart’s current Real Estate listings.

The LandVest High-End Market Watch is a periodic review of select high-end markets in Maine, Massachusetts, New Hampshire, Rhode Island, 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 real estate consulting, appraisal and brokerage services, please contact Ruth Kennedy Sudduth.

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Jul
28
Great Value for a Classic Adirondack Great Camp for Sale in Keene Valley, New York
By LandVest
 

A classic Adirondack Great Camp, The Uplands, is an exceptional 26 acre family compound in Keene Valley, NY.

LandVest has a long and successful history of advising property owners on land use, conservation, valuation and timber management and in marketing real estate throughout the Adirondack Park and on both the Vermont and New York shorelines of Lake Champlain.

The challenging real estate market of the last several years is creating opportunities for savvy buyers to purchase legacy properties at values not seen for a decade or more.  One such remarkable value is “The Uplands” in Keene Valley, New York. This beautifully maintained classic Adirondack Great Camp is sited on over 26 acres of towering white pine trees with views to the surrounding mountains. The main camp was built in 1909 and is comprised of several buildings connected by large covered porches, making for a relaxed retreat for a couple or for a large extended family, as groups can occupy one building or several depending on the size of the gathering. The principal building has an enormous great room, a separate large dining room and numerous bedrooms. The “South House” also connected by a traditional covered walkway is heated and used year round. The compound has accessory structures and a heated pool.

The family just reduced the asking price to $1,950,000, a striking value, given that LandVest sold a slightly larger, though otherwise very similar Great Camp nearby for $2.7M just over a year ago.

“This significant price reduction for this exceptional property reflects the current real estate market and is a great opportunity for a wonderful family compound in Keene Valley.” Landvest broker Vinny McClelland opined. “We are seeing increased activity in Adirondack real estate from individuals and families who appreciate the added value of owning private property surrounded by millions of acres of forever wild forest preserve lands of the Adirondack Park. This particular property is only 2 hours from Montréal and less than 5 hours from Boston and New York.”

LandVest’s Keene Valley office is located in the heart of the “High Peaks” of the Adirondack Mountains within the 7 million-acre Adirondack Park. LandVest works with large and small, historic, generational, waterfront, timberland and unique higher value properties. Other properties currently being marketed by LandVest in the Adirondacks include the historic and renovated “Pinewood” also in Keene Valley, “Bark Eater” in Keene, the 3,000-acre “Hamilton Lake”, “Willett Farm” in Essex and “Mays Pond” near Old Forge.

Since the early 1900's a single family has been the steward of this connecting link between the high peaks of the Adirondack mountains and the shores of Lake Champlain. Bessboro Farm in Westport, NY is currently for sale.

Click below for more information on Adirondack Real Estate for Sale:

Adirondack Properties for Sale

Vinny McClelland Contact Information

Vinny McClelland Real Estate Listings for Sale

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Jul
28
LandVest-Martha’s Vineyard’s Real Estate Listing Featured in the Boston Business Journal
By LandVest
 

LandVest’s Gerret Conover  and Thomas LeClair are the listing brokers for the prominent 1.1 acre Edgartown harbor front compound which is the subject of Craig Douglas’ article “Vose Estate on Martha’s Vineyard Listed for $17.5M” in the Boston Business Journal.

This magnificent harbor front listing represents one of the more important properties to be offered in recent times.

This historic Martha’s Vineyard property was owned by the Vose family for more than 100 years and is being listed for $17.5M.  It is located at 41 Dunham Road in the exclusive Tower Hill neighborhood and boasts what is arguably the finest view in the harbor.  It has 4,300 square feet of living space, seven bedrooms, five baths and includes a main house on a high bluff overlooking a sandy beach with a private deep-water pier as well as a separate two-story guesthouse.

Click here for more information on this Dunham Road estate or contact Gerret Conover or Thomas LeClair

For more information on Martha’s Vineyard properties for Sale visit the LandVest Martha’s Vineyard website.

www.mvlandvest.com

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Jul
26
New Maine Waterfront Properties for Sale
By LandVest
 

New Maine Waterfront Real Estate for Sale in Harpswell, Castine and Kennebunk, ME

For more information, click on photos, call the LandVest – Portland Maine  (207) 774-8518 or contact the Portland broker listed with each Maine property.


Coveside

1.80 Acres

393 High Head Road, Harpswell, ME

$1,625,000

For more information, contact William Davisson
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Morey-Pierce House

2.60 Acres

67 Perkins Street, Castine, ME

$4,250,000

For more information, contact John Saint-Amour or Terry Sortwell

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Pine Knot

3.19 Acres

48 Parsons Beach Road, Kennebunk, ME

$3,850,000

For more information, contact John Scribner

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Jul
21
New Lake Champlain Waterfront Properties for Sale
By LandVest
 

New Lake Champlain Waterfront Properties For Sale in Charlotte, VT, Panton, VT and Westport, NY

For more information click on photos or contact: Wade B.C. Weathers, Jr - wweathers@landvest.com or call 802-651-5392

Rock Harbor

11 acres overlooking Lake Champlain and the Green Mountains of Vermont

356 Rock Harbor Way, Westport, NY

$1,995,000

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124 McNeil Cove

Exquisite Lake Champlain estate on 2.99 acres

124 McNeil Cove Road, Charlotte, VT     05445

$2,350,000

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Bay Point

125 acre peninsula is one of the finest Gentleman Farms on Lake Champlain

1872 Arnold Bay Road, Panton, VT     05456

$4,900,000

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Click here for Wade B.C. Weathers, Jr info

Click here to view Wade’s current listings.

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Jul
20
New North Shore, MA Real Estate for Sale
By LandVest
 

New North Shore, MA Real Estate For Sale in
Hamilton, Marblehead, Topsfield, and Manchester-by-the-Sea

For more information click on photos or contact: Lanse L. Robb – lrobb@landvest.com or call 617-357-8996

Aquila Farm Equestrian Estate

86.65 Acres

639-645 Bay Road, Hamilton, MA 01982

$6,500,000

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Marblehead Beachfront Residence

.46 acres with panoramic views of Atlantic Ocean

20 Adams Road, Marblehead, MA   01945

$2,950,000

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Perkins Row Riverfront Estate

57.70 acres

333 Perkins Row, Topsfield, MA   01983

$3,900,000

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29 Smith’s Point Carriage House

1.46 acres

29 Smith’s Point Road, Manchester-by-the-Sea, MA   01944

$2,950,000

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Click here for Lanse Robb contact info

Click here to view more North Shore Real Estate for Sale

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Jul
19
Buyer Demographic Survey 2011
By LandVest
 

A recent informal survey of LandVest brokers throughout our network reveals an important demographic shift in buyers of high-end real estate.  While as recently as five years ago, the leading group was the empty nester seeking a retirement home, today’s buyer is more likely to head a young family with children.  Interestingly, sellers, with an average age of 72, are now a full generation older than these buyers, who average 45 years old.

This new cohort of buyers is affluent.  The average  size of our most recent transactions was $3 million.  They are geographically mobile.  Of 39 recent LandVest transactions, nine of which were in Greater Boston primary home markets, the buyers came from nine states and three countries, including multiple buyers from Canada and the U.K.

This theme is consistent regardless of whether we look at primary home or second home markets.  In Greater Boston, couples with young children are upgrading to large houses on family friendly sites, generally in excellent or like new condition.  Our Maine offices are seeing buyers in their 30s and 40s who already have connections to Maine.  They are returning to the state, seeking Maine coast property to give their children the opportunity to experience the Maine summer magic that they treasured when they were kids themselves.

The way buyers communicate and do business has changed too.  These new buyers are tech savvy and well-informed; they move at a fast pace, manage multiple competing priorities on the fly, and they expect instant responses to communication.  The web is their key resource, and they are intensive researchers of property and markets.  They carry smartphones (predominantly iPhones and BlackBerries), and many carry iPads as well.  All communicate via email, but a rising share prefers text messaging to email.  Most are on Facebook and LinkedIn.

These buyers are looking for family homes with luxury amenities.  In many markets, they are seeking either exceptional privacy or a village setting in very close proximity (i.e. walking distance) to town centers, children’s activities, and services.  For the most part, they’re most interested in, and willing to pay for, houses that are already “done,” updated to current standards and offering all the desirable amenities.

One of our fiduciary clients, the president of an international wealth management firm, commented that his older clients were still behaving very conservatively after the recession.  Younger clients of wealth, perhaps more confident that they have many years of wealth creation in front of them, have been the leaders in purchasing landmark properties in this recovering high end market environment.

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Jul
8
Great Meadows National Wildlife Refuge: A Natural Wonderland in MetroWest Boston
By LandVest
 

Great Meadows National Wildlife Refuge is located just 20 miles west of Boston. The refuge was established in 1947 to provide nesting, resting, and feeding habitat for migratory birds and is one of more than 500 refuges. Roughly 85 percent of the refuge’s 3,600 acres is comprised of valuable freshwater wetlands stretching along 12 miles of the Concord and Sudbury Rivers, in two major parcels, from the towns of Billerica (downstream) through Bedford, Carlisle, Concord, and Lincoln to Sudbury and Wayland (upstream). Considered by some ornithologists among the best inland bird observatories in the state, the public can also enjoy a variety of other wildlife-dependent recreational activities while visiting the refuge. The original 250-acre Concord parcel that started the sanctuary has long been known as the “Great Meadows,” and was donated by Concord resident Samuel Hoar in 1944. There are several trails for daytime wildlife observation and walks, with trail-side observation blinds and an observation tower. The Dike Trail, a 1.7 mile loop, circles one of the marsh pools. Winter activities include, as snow permits, walking, snowshoeing, and cross-country skiing. The U.S. Fish and Wildlife Service manages the refuge.

3,600 acre natural habitat for the Great Blue Heron and a variety of other wildlife.

Refuge landscapes inspired the thoughts of such storied environmental philosophers as Henry David Thoreau and Ralph Waldo Emerson. More than a century and a half later, summer recreationists sun themselves along the shores of nearby Walden Pond, now protected as a state park. Paddling through the refuge along the Concord River, canoeists may pass below the Old North Bridge, the site of America’s birth, now managed by Minute Man National Historical Park.

Wilson's Snipe. Photo credit: Jason St. Sauver/USFWS

The Sudbury Unit is located in Sudbury, Massachusetts and is open from 8 am to 4 pm, Monday through Friday. To reach the office and visitor center at Weir Hill, follow Route 27 (1.7 miles) from Wayland and turn right onto Water Row Road. Follow Water Row Road (1.2 miles) until it ends and turn right onto Lincoln Road. Travel one half mile, turn left onto Weir Hill Road and follow to the end. The Concord Unit is located on Monsen Road, off of Route 62, in Concord, Massachusetts, and is open from sunrise to sunset. For more information, click  Fish and Wildlife Service

Exceptional Real Estate Surrrounds Great Meadows National Wildlife Refuge

LandVest is particularly active in the towns abutting the Great Meadows National Wildlife Refuge, listing many of the best properties and often achieving record sales. Below are three current examples in Carlisle, Concord, and Wayland that are adjacent to the refuge.

River Road in Carlisle, MA overlooks the Concord River and is adjacent to the Great Meadows Refuge.

River Road Farm, Carlisle, MA 
River Road Farm is an historic, environmentally significant property overlooking the Concord River and adjacent to the Great Meadows National Wildlife Refuge. This offering represents a rare opportunity to acquire 18.5± acres of mostly open upland fields and woodlands with river views and access to the Concord River. Driveway access permit in hand.

 For more information on this property, click  River Road Farm, Carlisle, MA

Great Meadows in Concord, MA is located within steps of Concord Center and abuts the Great Meadows Refuge.

Great Meadows Estate, Concord, MA
One of the most remarkable properties in Greater Boston, the 6.55± acre estate affords a world of privacy, natural beauty and classic elegance. Located off Monument Street in Concord Center, a private road leads to the Main House set at the top of a knoll overlooking the Concord River. This 9,568-sq.-ft. impeccably restored brick c1913 Colonial Revival has five bedrooms, six full and two half-baths. The amenities include a spectacular pool house with onyx Jacuzzi, media room and caterer’s kitchen, gym, swimming pool, tennis court, fenced-in grounds guarded by a gatehouse and extensive security system. The four-car garage includes a one-bedroom apartment and is attached via a tunnel to the main house. Additional abutting waterfront properties available with purchase of 68 Great Meadows Road, equestrian potential on a total of 18± acres.

For more information on this property, click  Great Meadows Estate, Concord, MA

Stonegate Farm in Wayland, MA offers the unique combination of a private equestrian estate within 20 miles of Boston's financial district.

Stonegate Farm, Wayland, MA
Stonegate Farm provides the unique combination of a private equestrian estate within 20 miles of Boston’s financial district. Sited on nearly 9 acres, the gated driveway winds past a large pond, stone walls, fenced dressage area, rolling fields, and landscaped grounds. This unique equestrian compound consists of a main residence, guest house, barn, pool house, and shed. The simple Georgian colonial-style residence, built in 1985, has recently been renovated and features wide pine flooring, timbered ceilings, and paneled walls, 4 bedrooms, 7 bathrooms, and 5 fireplaces. There is a first floor master suite with vaulted ceiling, fireplaced dressing room, sky-lit master bath, and French doors leading to the terrace and pool, a live-in kitchen with a large fireplace, sunroom, fireplaced dining room and living room, finished basement with a wine cellar and office, and an attached three-car garage. For more information on this property, click  Stonegate Farm, Wayland, MA

Click here to view additional properties for sale in Boston and Boston’s suburbs.

Landvest This post was brought to you by Stewart Young (syoung@landvest.com).  Whether it’s an elegant Greek Revival in Lincoln, a 130 acre farm in Medfield, or a waterfront summer estate on Stage Harbor in Chatham, Stewart advises buyers and sellers of some of the most distinctive properties in Massachusetts with a focus on the Metro West area of Boston and Cape Cod.

Contact Stewart Young (syoung@landvest.com) in our Boston, Massachusetts office if you’d like to talk about real estate in the Great Meadows and metro west areas of Boston, or on Cape Cod.

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