Luxury Real Estate | Landvest Blog

Mar

Middlesex County, MA Real Estate News: High-End Market Watch, Year End, 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 10th in the country in terms of the number of millionaires. It includes urban, suburban and rural areas reaching from urban Cambridge, home to Harvard University and the Massachusetts Institute of Technology, to the New Hampshire border. Within Route 95/128, towns with high-end real estate include Belmont with its attractive historic Belmont Hill section; Lexington of Revolutionary War 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 19th century architecture, substantial farmland, and two highly-regarded boarding schools: Groton School and Lawrence Academy.

Active Listings and Sales, $2,000,000+, Year End , 2000-2011

In Middlesex County, Massachusetts, in the fourth quarter of 2011 the inventory of high-end listings shrank to the lowest levels since 2004. At the end of 2011 there were 87 listings compared to 114 at the end of 2010 and 154 at the end of the third quarter of 2011. The record for year-end inventory was 133 listings in 2005. While it is customary to see a reduction in the number of listings in the winter months, we believe that the cause of this exceptional decrease is price changes resulting in properties dropping below our high-end definition of $2,000,000. In 2011 there were 77 sales, down slightly from 2010 and 39% below the peak in 2007. The number of high-end sales peaked in 2006 (121 sales) and 2007 (126 sales). The past four years have seen considerably less activity: 98 sales in 2008, 60 sales in 2009, and 81 sales in 2010. The first quarter of 2011 was hot following on strong performance in the last quarter of 2010 with 23 sales compared to 14 in 2010. The second and third quarters were relatively strong and ahead of 2010 but ran out of steam in the fourth quarter. Towns with high-end sales in 2011 were Belmont, Cambridge, Concord, Lexington, Lincoln, Newton, Sherborn, Sudbury, Weston, and Winchester.

Highest And Average Sale, $2,000,000+, Year End, 2000-2011

In 2011, the top sale in Middlesex County was a record $15,600,000 in Weston followed by another nearly record sale of $8,350,000 also in Weston. The two highest sales in the past twelve years were $13,301,027 in Chestnut Hill in 2006 and $10,000,000 in Weston (excluding private sales). Average year-end sale prices have been generally stable in the range of $2,600,000 to $2,900,000 over the past twelve years. Of the 77 high-end sales in 2011, 56 or 76% were between $2,000,000 and $3,000,000 and the average sale price was $2,871,886. Only 5% of high-end sales are above $4,000,000.

Days On Market, Sales, $2,000,000+, Year End, 2000-2011

Days on market for high-end sales improved during 2011. Average days on market were 197 at the first and second quarters, 183 at the third quarter, and 176 at year end. In comparison, year end days on market were 187 in 2009 and 236 in 2009. LandVest’smarkets are experiencing palpable improvements in volume and significant record sales. As always special properties expertly presented reaching out to a broad market with a strong value proposition are well received by the market. Sales By Town, $2,000,000+, Year End, 2000-2011.

Sales by Town, $2,000,000+, Year End, 2000-2011

Ten of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in 2010. Over the period 2000-2011, Weston is the leader with 262 sales followed by Newton (246), Cambridge (180), and Concord (121). On a population-adjusted basis, Weston is also the leader by a 3-fold margin followed by Concord and Lincoln.

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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Mar

Cape Cod MA Real Estate News: High-End Market Watch, Year End, 2000-2011
By LandVest

Cape Cod is internationally famous as a summer resort area and is increasingly popular for retirement living. It features miles of beaches, natural attractions, historic sites, art galleries, and four star restaurants and hotels. Outdoor activities include world class yachting, coastal and deep-sea fishing, numerous public and private golf courses, and a wide variety of other informal summer sports. The Cape is just 75 miles from international air service at Logan Airport in Boston, Massachusetts and T.F. Green Airport in Providence, Rhode Island. Executive jet services are available at the Hyannis airport and there are several other smaller airports.

Cape Cod is divided into four regions: Upper Cape, Mid Cape, Lower Cape, and Outer Cape, each including several towns and villages and each with their own unique charms. Upper Cape towns include Bourne, Sandwich, Falmouth, and Mashpee. Mid Cape towns include Barnstable, Dennis, and Yarmouth. Lower Cape towns include Harwich, Brewster, Chatham, and Orleans. Outer Cape towns include Eastham, Wellfleet, Truro, and Provincetown.

For additional information on Cape Cod, check out: http://www.capecodonline.com

Active Listings and Sales, $2,000,000+, Year End, 2000-2011

On Cape Cod, Massachusetts, the inventory of high-end listings shrank 30% from a record high of 271 listings at the end of June to 191 listings at the end of 2011. Typically the listing inventory grows through the first three quarters and then declines in the fourth quarter as sales are closed and properties are taken off the market. This unusually strong contraction is likely a combination of properties being repriced below our high-end cut-off of $2,000,000 as well as sellers taking properties off the market. High-end sales lagged throughout 2011 compared to 2010, which had shown significant improvement compared to 2009. At year end 2011 there were 50 sales compared to 55 at year end 2010 and 41 sales in 2009, the lowest since 2002. The peak level of sales at year end was 88 in 2007.

Overall, the Cape Cod market continues to underperform compared to the peak years of the real estate bubble, but better than performance before 2003. Anecdotal information from leading Cape Cod brokers and LandVest’s own recent experience suggests that there was a modest, but noticeable increase in buyer inquiries during the fourth quarter of 2010. Across New England LandVest brokers continued to report an upsurge in activity in our markets and sporadic signature sales throughout the fall and winter. The bad news is sales are down compared to recent highs. The good news is that sales are as good or better than longer term historical trends and bloated inventories seem to be settling out.

Highest and Median Sale, $2,000,000+, Year End, 2000-2011

In 2011 the very high-end on Cape Cod came alive with twelve sales above $5 million. The top sale was $11.6 million for an 11,500 square foot residence with waterfront in the Seapuit neighborhood of Osterville, approaching the all-time record of $12,500,000. There were two additional top sales in Osterville in 2011: 120 North Bay Road for $6,200,000 and 395 Eel River Road for $6,500,000. In Chatham, 74 Sears Point Road sold for $6,500,000.

The median value for high-end sales in 2011 was $2.8 million, about on par with median sale prices over the past decade. The high-end market on Cape Cod is predominately in the $2-$3 million range. During 2011, there were 50 sales above $2.0 million. Of these sales 29 of 50 (58%) were between $2 and $3 million and 39 of 50 (78%) were below $4 million. There were 5 sales above $6,000,000.

Days on Market, Sales, $2,000,000+, Year End, 2000-2011

Days on market for high-end properties sold during 2011 increased slightly to a record level of 473 days compared to 461 days in 2010. For 2000-2010, the average days on market ranged from 90 to 461 days, generally increasing over time with a significant jump in 2010. Hopefully the decreasing inventory and stable or growing demand will result in improving turnover in 2012.

Sales by Town, $2,000,000+, Year End, 2000-2011

Starting around 2002 the high-end market on Cape Cod broadened as the perennial top markets were perceived as being too expensive and as buyers bid up the prices of special properties in other towns. By 2006, 13 of the 15 towns on Cape Cod were recording sales above $2 million. In 2010 and the first half of 2011, however, there was a substantial contraction in the market with only 5 towns recording high-end sales. In the second half of 2011, the market broadened again with an additional 8 towns recording single high-end sales. Cape Cod towns with high-end sales in 2011 include Chatham (17 sales and the leader for the second time, last in 2009), Barnstable (14, all Osterville except Marstons Mills, 1), Orleans (5), Falmouth (3), Dennis (2), Harwich Port (2), Bourne (1), Brewster (1), Eastham (1), Mashpee (1), Provincetown (1), Sandwich (1), and Truro (1).

Calves Pasture Waterfront in Barnstable, MA is currently for sale

Cohasset Waterfront Estate in Cohasset, MA is currently for sale

Fairview Waterfront Compound in Woods Hole, MA is currently for sale

Viking Point in Orleans, MA is currrently for sale

Wychmere Waterfront Estate in Harwich Port, MA is currently for sale

View Cape Cod Area Select Sales.

To view available real estate on Cape Cod visit www.landvest.com or click Cape Cod Real Estate for Sale.

For information about buying or selling real estate on Cape Cod, please contact Stewart Young at syoung@landvest.com or 617-357-8930

For additional information about LandVest’s real estate consulting, appraisal, and brokerage services, please contact: Ruth Kennedy Sudduth.

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Mar

LandVest 2012 North Shore Inland Sales Increase
By LandVest

LandVest 2012 Pending Sales Set Strong Positive Tone for North Shore Equestrian Real Estate

North Shore of Boston sees significant large acreage, farms, and equestrian property sales and pending sales in 2012. Five significant equestrian properties have recently sold or are under agreement with list prices totaling over $15,000,000.

Of these, the most significant property is the LandVest listing of the 188± acre Meredith Farm in Topsfield with an asking price of $6,900,000. The estate, a 9.000± square foot mansion with barns, riding ring, farm house, 50± acres of open fields and paddocks, and building lot is under agreement. Also in Topsfield, Copper Beech Farm, an 80± acre classic horse farm listed by LandVest for $2,950,000 is due to close this month.

In Hamilton, three properties are under agreement or have sold this year and they include two horse farms off Highland Avenue. The first is an unlisted property on 20± acres which was sourced for a LandVest buyer; the property was offered at $3,000,000 and is due to close at the end of March. The other, an 11± acre estate with a 7,000± square foot main house, 8-stall stable and grooms quarters, sand ring, and paddocks sold for $2,950,000 on March 1, 2012. The third equestrian estate, located off Bay Road in Hamilton, is a c1936 brick, colonial on 20± acres, currently under agreement and listed at $1,895,000.

The LandVest listing of Aquila Farm off Bay Road, Hamilton is available with its 8,000± square foot main house, guest house, several barns with a total of 19 stalls, many acres of paddocks and pastures, pool, formal gardens, greenhouses, and ponds. The property is located on the Essex County Trail system and offers subdivision potential, currently listed at $4,950,000.

617 Highland Avenue in Hamilton is situated on 4 acres and features a renovated 6,000+ square foot Colonial with tennis/basketball court, gunite pool, bluestone patio, & pool cabana. The home features 9′ ceilings on the main floor, a gourmet kitchen, master with fireplace & his/her dressing rooms & new master bath. The lower level offers theatre, game room, exercise room, half bath & audio throughout. Direct access to Essex County Trail system.

Buyers continue to focus on unique high-end property holdings in premiere locations as pricing and interest rates remain attractive.

For more information on these properties or other Boston North Shore real estate, contact Lanse Robb or visit the Lanse Robb website .

Click here to view more North Shore Real Estate for Sale.

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Mar

Maine Waterfront Real Estate Values Are On The Rise
By LandVest

Maine Waterfront Real Estate – Wall Street Experts Barron’s
and Grant’s Interest Rate Observer Agree It’s Time to Buy

Barron’s and Jim Grant have both called named coastal Maine Waterfront Real estate a top real estate opportunity. With the recession in real estate bottoming out, and transactions coming through at levels reflective of 2001, experts agree that Maine real estate offers values not seen for a decade or more.

The recent Barron’s article “20 Best Places For Second Homes“, stated that the “luxury second-home market is now firming up again” and with a rapidly closing window for bargains. Grant’s Interest Rate Observer featured Maine as a great opportunity for buyers of choice vacation homes, “In Wall Street argot, Maine would be considered the Pink Sheets market.” Indeed, like the OTC equity market, Maine offers opportunities for astute investors. What puts Maine waterfront real estate at the top of the list? Value and Quality of life.

Barron’s recommends Castine, Maine as a Top 20 Second Home location along with such glittering locales as Aspen, Scottsdale, Jackson Hole and Pebble Beach. Why the focus on quiet, historic Castine? Barrons calls Castine “a low-key Yankee playground of celebrated writers, rich with undiscovered gems”.

Three such gems offered by LandVest are Coverly Farm – a classic Maine Saltwater farm with sweeping lawns down to the water, a breezy and open main house, additional guest cottage and lovely gardens.

Main residence of Coverly Farm in Castine ME sits on 40± private acres overlooking fields and stone walls

Nautilus Island has all the magic of a private island, a beautifully restored century old seaside estate, pool, terraces, boathouse, tennis court, vineyard, pine woods, rocky shores and two guest houses.

Aerial view of Nautilus Island in Brooksville, ME

The Morey-Pierce House, an historic, architectural landmark at the entrance to Castine Harbor, is an exquisitely renovated Victorian residence with spectacular views of the water and islands of Penobscot Bay.

Morey-Pierce House - covered entrance porch overlooking Castine

Castine’s particular charm derives from its location at the end of a peninsula projecting into beautiful Penobscot Bay. One of the oldest settlements in North America, Castine has been continuously occupied since the early 1600’s. Situated on an island-like peninsula on the eastern shore of Penobscot Bay, the village’s strategic location has been the site of trading posts, missions, military forts and permanent settlements of England, Holland, France and colonial America. By the end of the 19th century, the town was again rediscovered with the arrival of steamships filled with summer tourists, or “rusticators ” to the locals. Ample, shingled summer “cottages” sprung up along the shore complementing the stately Georgian and Federal homes that line Castine’s streets. With the establishment of the Maine Maritime Academy in 1942, the town became a vibrant year-round community. Today, shops, galleries and restaurants enliven the village. The Castine Golf Club and the Castine Yacht Club welcome summer residents and visitors to this picturesque destination. Described in Barron’s as “a step out of time” Castine continues its connection to the ocean as a way of life.

An active cultural life combined with natural beauty has long attracted writers and artists, Barron’s notes that “The late novelist Mary McCarthy and her career-diplomat husband once mixed in town with Washington insiders, literati and showbiz sorts. Today a similar set includes Sex and the City writer and producer, Jenny Bicks.”

Artfully restored and expanded, this historic landmark enjoys spectacular Penobscot Bay views

Sited on ~2.6 acres of beautiful grounds with 324' of waterfront, 2 decks and deep water mooring.

Barron’s featured LandVest’s listing, the Morey-Pierce House , a proud 19th century landmark at the harbor entrance offered by John Saint-Amour and Terry Sortwell.

For more information about buying or selling distinctive real estate in Coastal Maine, contact one of our Maine Real Estate Brokers.

Camden, Maine Area Real Estate Broker

Portland, Maine Area Real Estate Broker

Northeast Harbor, Area Real Estate Broker

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Feb

Perspectives on Luxury Real Estate in New England
By LandVest

Private Properties – Perspectives on Luxury Real Estate

The market for high end properties in New England strengthened in 2011. There are great deals being done. Prices are approaching those of 2001-2002. LandVest is seeing interest across our regions, with the strongest activity along the coast, from Mount Desert to the North Shore of Boston. Highlights include Story Litchfield’s, sale of the 15 million listing Indian Head, on Mount Desert Island, besting her previous record sale for the state of Maine.

LandVest’s private transactions have led the market, including in Maine a recent sale on Prouts Neck by John Scribner, and near Woodstock, Vermont of Lull Brook Farm, by Ruth Kennedy Sudduth, and Story Jenks. LandVest’s private listings help buyers and sellers while avoiding the public eye. Please contact any of our brokers with your specific area of interest. We are seeing landmark properties offered at tremendous values:

In Vermont, Wakanta, one of the best properties in the Mad River Valley, evokes Vermont vernacular with bold mountain views. All the amenities; open living areas, sleeps a crowd, barn, hot tub, trout pond and a great location close to Sugarbush and Mad River Glen.

Click here to view property details

On Boston’s North Shore, Aquila Farm, is an 80 acre equestrian estate within easy reach of 128 and downtown. Offered for $4,950,000, the property includes a main house, guest house, barns, has potential for subdivision and is a superb investment value.

Click here to view property details

On Cape Cod, Fairview Waterfront Compound located at 43 Church Street in Woods Hole is listed at $14 million, well below basis. With subdivision potential on one of the best waterfront sites on the Cape, this is an outstanding opportunity.

Click here to view property details

Classic Shingle-style on Nashawtuc Hill in Concord, MA.
A beautifully restored shingle-style home in a quiet setting walking distance from Concord center. The flowing, flexible floor plan, combined with high ceilings, hardwood floors, and beautiful period details throughout, creates a perfect atmosphere for entertaining and family life.

Click here to view property details

In New Hampshire, Indian Portage on Squam Lake, is a recently constructed Adirondack style retreat with boathouse, one of the prized major properties on quiet Squam Lake. Abutting conservation land, the 24.94 acre estate includes a cottage with deck extending over the water and a guest house.

Click here to view property details

These are a few of the great opportunities available at a fraction of replacement value. LandVest is seeing a pick up in activity from knowledgeable, affluent buyers seeking opportunities to pick up landmark hard assets at very attractive prices. Please contact us or visit our website for further information.

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Feb

Massachusetts Best Places to Live Featured Real Estate for Sale
By LandVest

Massachusetts Best Places to Live
Featured Real Estate for Sale

A wonderful opportunity to own on secluded Goose Point in Duxbury.
Abuts conservation land and only steps to a private sandy beach.

Goose Point

48 Goose Point Lane
Duxbury, MA

$1,799,000

_______________________

Stunning Georgian Colonial overlooking the 18th fairway of the Weston Golf Club.
This estate in the desirable town of Weston has grand entertaining spaces,
beautiful grounds, a guest house and pool.

Meadowbrook

295 Meadowbrook Road
Weston, MA

$8,900,000

_________________________

10.23± acre property with spectacular panoramic views
over conservation land on Monument Street in Concord.
5,180+ square foot, three bedroom home situated on beautifully manicured grounds.

Monument Street Hilltop Retreat

695 Monument Street
Concord, MA 01742

$3,800,000

_________________________

NEW LISTING 94.8 acres abutting conservation land.
Equestrian opportunities with a 2,000 sq. ft. stable and an indoor riding arena.
Waterfront on Manchaug pond. Possible 5-lot subdivision.

Beaton Farm

56 Waters Road
Sutton, MA 01590

$1,600,000

_________________________

A landmark property in South Dartmouth and the entire South Coast.
There is outstanding privacy in 97± acres of land that is oriented north and south providing beautiful views of the ocean and beyond to the Elizabeth Islands
and Martha's Vineyard. It borders Mass Audubon's 700-acre preserve and
has frontage on Allen's Pond. The keystone is a custom designed 15-room
Shingle-Style home and guest house built in 2004.

97-Acre Waterfront Estate

740 Horseneck Road
South Dartmouth, MA

$10,000,000

_________________________

To view other LandVest listings throughout Greater Boston, visit www.landvest.com or click Listings for Boston, MA office.

For more information on buying or selling Real Estate or for information on other Real Estate Services that LandVest provides, contact Ruth Kennedy Sudduth, Director of LandVest’s Residential Brokerage Division.

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Jan

LandVest Expands Timberland Division with Opening of New Office in Oregon
By LandVest

LandVest Expands Timberland Division
Opens Office in Oregon

LandVest is pleased to announce the opening of a new Timberland office in the Pacific Northwest. The office, located in Eugene, Oregon will service LandVest’s timberland transaction and consulting work in the western U.S.

The office will be headed by Dr. David Walters. David comes to LandVest with over 25 years of experience in forest industry, academia, and consulting. As Director of LandVest’s Institutional Timberlands Management (ITM) Group, David will oversee LandVest’s timberland marketing and consulting work throughout the western states. As an accomplished and highly regarded biometrician and statistician, David will also contribute to inventory design, analysis and modeling work on ITM projects throughout the U.S.

Walters has worked in various levels of increasing responsibility for industry and private forest management, consulting and academia since 1987. He holds an undergraduate degree in Forest Management from Oregon State University, a Masters in Forest Biometrics from Virginia Tech and a PhD in Forest Biometrics from the University of Minnesota. David has authored or co-authored dozens of professional and academic publications.

“We are extremely fortunate to have the opportunity to work with someone of Dave’s caliber” noted Stephen Mongan, President of LandVest, Inc. “His experience in all aspects of timberland acquisitions, divestitures and management, coupled with his integrity and commitment makes him an ideal team leader for this important western expansion.”

The Oregon office will be overseen by Joe Taggart, Managing Director of LandVest’s ITM Group.

“I could not be more pleased with the fit – both professionally and personally”, says Taggart. “The Institutional Timberlands transaction business has evolved to a highly technical process, focusing on transparency in data and professionalism in presentation. As a highly regarded Biometrician, Dave offers our clients superior data management and analytical capabilities. At the same time, his ability to understand and clearly explain the financial impacts of key property attributes will make him a valuable resource to our customers.”

The addition of the Oregon office will allow LandVest to service its growing timberland marketing and consulting practice in the west, which includes recent projects in Washington, California and Hawaii. Over the past five years, the ITM Group has marketed 700,000 acres with a total value of over $1 billion in the Southeast and West.

For more information, contact:

David Walters

LandVest, Inc.
The Heron Building, Suite 202
576 Olive Street
Eugene, OR 97401
dwalters@landvest.com
541-790-2105 • 541-430-8605 cell

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Jan

Celebrating Winter in Vermont – No Place does it better
By LandVest

Vermont is a State For All Seasons
But No Place Does Winter Better

It is all about the Green Mountains, snow and New England tradition. Here are 6 keys to a great year-round property for the winter months:

1. Keep it close. Vermont is within driving distance
2. Give me the mountains. The Green Mountains stretch the length of the state
3. Out my back door: snowshoeing, x-country skiing, downhill skiing and skating
4. Escape for Dinner one night: Sophisticated local foods – Downtown Grocery
5. Private, not remote: Slopes, shops and village amenities
6. Room for the family and friends: Bringing together the people we love

Living room of Highlands Reserve
with exposed post and beam

Vermont barn in the winter
- a New England winter snowscape

LandVest’s great Vermont escape for sale:

Highlands Reserve: Set in the Southern foothills of the Green Mountains, bordering state and national forest, this 627± acre tract provides complete mountain privacy within six miles of the white clapboard village of Weston and ten miles of Okemo Mountain Resort. A summer trout pond becomes winter’s ideal spot for pond hockey at the center of this 20-acre± compound. The main residence is an exposed hemlock Post & Beam with 3,000± s.f. and three bedrooms. The New England Post & Beam barn with attached camp, and a 3,000± s.f. two-suite guest house overlook each end of the pond. A stone turret folly in a hillside field above the residence provides a perfect go to place at sunset. South of the pond is a glade with a stream at its border and the “Kids Camp” fitted with a wood stove and bunk beds and a well-framed mountain view. A short distance by snow shoe there is a series of ten connecting natural ponds in a beautiful woodland setting. A larger trail leads off towards the center of the property to an area of an old settlement identifiable by a series of stone walls. From here, there is a trail to “Tabletop” hill, a great site for a cabin with views of the valley and mountains. A five-mile network of trails, great for skiing, snow shoeing or snow machine, provide sightings of moose, beaver, grouse, woodcock and turkey. The 600 acre managed timberland provides additional value. Offered for $2,100,000.

Contact Story Jenks: sjenks@landvest.com, 802-238-1332

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Jan

LandVest listing Garrison Field in Cape Elizabeth, Maine is featured in Wall Street Journal
By LandVest

Garrison Field in Cape Elizabeth, Maine
was featured in the Wall Street Journal

This 5,800 sq ft English Cotswolds-style manor home has 11 rooms and 6 baths and sits on more than 14 acres fronting the Atlantic Ocean

The Great room is defined by a 32-foot cathedral ceiling that includes hammer-beamed arches and grand fireplace with carved stone surround

Library features hand-painted mural of Cape Elizabeth and connects to porch at poolside terrace

Poolside terrace connects residence to pool area from great room and ibrary covered porch

46'x 16' pool is believed to be the oldest residential swimming pool in Cape Elizabeth

Imported Marston and Langinger seaside conservatory with fireplace, telephone, gas, electric and cable.

If you missed the open house, click here to read Marie C. Baca’s Wall Street Journal article
about this ocean front property in Maine.
Click here to see property details for Garrison Field.

For more information on Maine Real Estate for sale in Portland, Maine and surrounding area
contact William Davisson at wdavisson@landvest.com or click for William Davisson’s contact
information.

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Dec

Middlesex County, MA Real Estate News: High-End Market Watch, Q1-Q3, 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 10th in the country in terms of the number of millionaires. It includes urban, suburban and rural areas reaching from urban Cambridge, home to Harvard University and the Massachusetts Institute of Technology, to the New Hampshire border. Within 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+, Q1-Q3, 2000-2011

In Middlesex County, Massachusetts, in the first three quarters of 2011 the inventory of high-end listings shrank from record levels in the previous quarter (154 vs. 193 listings at the end of June) and compared to the same time last year (182 listings at the end of September 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 and the reduction in the number of listings in the third quarter is even more striking.

High-end sales through September are slightly higher than last year (63 vs. 57 in 2010), but significantly behind the average of 74 sales over the past 12 years. Peak high-end sales for the first three quarters occurred in 2007 with 105 sales. The first quarter of 2011 started off more strongly than 2010 and several record sales created an optimistic buzz in the brokerage community. The second quarter did not keep up this accelerated pace and, while the third quarter of 2011 was stronger than last year, at the end of September the number of sales is off approximately 40% from the peak. On the positive side, while off from the peak, the high-end market in Middlesex County appears to have stablilzed at a reasonable level compared to historic levels of inventory and sales.

Highest And Average Sale, $2,000,000+, Q1-Q3, 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 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 three quarters of 2011 the average sale price was $2,870,048.

Days On Market, Sales, $2,000,000+, Q1-Q3, 2000-2011

Days on market for high-end sales in the first three quarters have varied considerably over the past 12 years. Average days on market through September of 2011 were 183 vs. 180 in 2010, 240 in 2009 and 173 in 2008. The average days on market for the first three quarters over the period 2000-2011 was 178. Despite the continued uncertainty in the market, special properties expertly presented and well priced are selling, but it can take time, although not much longer than in years past. Buyers continue to demand value and are leery of projects. Land sales have been mixed with developers being particularly risk averse.

Sales By Town, $2,000,000+, Q1-Q3, 2000-2011

Ten of the 54 cities and towns in Middlesex County, Massachusetts had high-end sales in the first three quarters of 2011. Newton was the leader with 18 sales followed by Weston (12), Cambridge (10), Belmont (6), Lexington (6), Winchester (4), Concord (2), Lincoln (2), Sherborn (2), and Sudbury (1). For sales in the first three quarters over the period 2000-2011, the leaders are Weston (219), Newton (201), Cambridge (138), Concord (99), Lexington (56), and Lincoln (37). On a population-adjusted basis, Weston remains the sales leader followed by Concord and Lincoln.