LandVest Corporate Headquarters: Ten Post Office Square, Boston, MA 02109     Phone:(617) 723-1800
 
Dec
23
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.

Stonegate Farm in Wayland, MA is currently for sale

Wayland Pastorale in Wayland, MA
was a record sale

Riverwalk in Lincoln, MA was a record sale

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.

PrintFriendly
 
Dec
13
North Shore, MA Real Estate News, Best Place to Live
By LandVest
 

Patton Offers Real Estate to Town of Hamilton, MA.  Hamilton Consistently Ranks High on Best Places Lists

Joanne Patton has generously offered her home and 27 acres on Asbury Street to the town of Hamilton.  Town officials discussed a plan that would include new playing fields, potential river access and possible housing opportunities.  Available open space for community use in our North Shore towns is becoming a big issue as the need for certain types of housing and recreation playing fields for baseball, soccer and lacrosse is increasing.  Local sports programs currently rely on the Pingree School, Gordon College and the town fields to meet their needs. Joanne Patton was married to Maj. Gen. George Patton who died in 2004 and daughter-in-law to the the famed WWII General George S. Patton. 

Hamilton is known for its equestrian estates and includes many historic homes and beautiful pastoral landscapes.  In 2011, Boston Magazine named the Hamilton-Wenham Regional School District the ninth best public school district in the state.  In fact, the school’s athletic teams are called the Generals after General George S. Patton.

Hamilton/Wenham was named one of the “Best Places to Live” in 2010 by Boston Magazine, and is also ranked #1 as the safest city to live in for families with young children by Sperling’s “Best Places”.  Only 23 miles from Boston and an easy commute via commuter rail to Boston’s South station, Hamilton remains a popular choice to live. 

For available Hamilton, MA real estate for sale and nearby North Shore towns, contact Lanse Robb (lrobb@landvest.com) or visit the Lanse Robb website . 

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

Aquila Farm Equestrian Estate with its large post
and rail fenced pastures in Hamilton, MA

6 Black Brook Road is an equestrian's dream
situated on more than 10 acres in Hamilton, MA

 

PrintFriendly
 
Nov
29
Boston’s Largest Commercial Lease is Good News for South Shore Real Estate Too.
By LandVest
 

Could the news that Vertex Pharmaceuticals is
moving from Cambridge to Fan Pier mean good things
for the housing market on the South Shore?

The news that Cambridge based Vertex Pharmaceuticals will be relocating to Fan Pier in Boston was greeted with predictable applause from city of Boston officials and commercial real estate professionals in the South Boston/Downtown area, but there were cheers from the South Shore as well. Vertex Spokesman Zachry Barber reports that the agreed upon lease term is for 15 years and will include an average annual rent of $72.5 million. The two buildings to be built will total 1.1 million square feet, and will be the new home of thousands of workers. Vertex’s new addresses will be at 50 Northern Ave. and 11 Fan Pier Boulevard.

This new location is ideally situated to take advantage of the commuter transit options from the South Shore communities of Hingham, Cohasset, Scituate, Marshfield, and Duxbury. While commuters to Cambridge are more often traveling from the Metro West markets, workers heading to and from Fan Pier and the Financial District have more typically opted for the South Shore communities and the commute by boat or train.

This waterfront Cape-style home in Duxbury is only 33 miles south of Boston with easy access by highway, commuter rail or ferry.

The MBTA boat commute offers convenient hourly travel from Quincy, Hull, and Hingham right to Rowes Wharf or Long Wharf. For commuters, there is also the recently completed Greenbush rail line connecting South Station to Scituate. The walk from Fan Pier to Rowes Wharf or South Station is an easy 5-10 minutes. Real estate experts are expecting to see some commuting patterns change as the Fan Pier location becomes more of hub of employment.

About 20 miles southeast of Boston, this Nantucket Shingle-style home is an easy commute by car, bus, ferry or the commuter train.

Terry Boyle, who works the high end real estate market on the South Shore for LandVest, points to the commuter boat as being a huge attraction for either relocation buyers or families leaving the city. “I have had two or three buyers in the last 12 months, who have fallen in love with the boat commute, the great schools, and the beaches. It’s great to hear they are that happy with the decision.”

For those interested in seeing the expanding inventory of homes and land available on the South Shore, please visit landvest.com

PrintFriendly
 
Nov
15
Best Place to Live: Dream Home on Todd Pond in Lincoln, Massachusetts
By LandVest
 

Todd Pond Estate Designed for Fun and Function

Aerial of Todd Pond and Estate

Front exterior of
109 Todd Pond Road Estate
in Lincoln, Massachusetts

Outdoor entertaining spaces
at the rear of the house capture
views of scenic Todd Pond

Completed in 2004, a young dot-com entrepreneur built his dream house on Todd Pond in Lincoln, Massachusetts.  The property, set on ten private acres, was developed in collaboration with the Lincoln Rural Land Foundation and resulted in preservation of 17+ surrounding acres and the linkage of a key piece of the Lincoln trail system.

Designed by Morehouse McDonald, the high tech home was built with “smart” technology including an advanced ground-loop geothermal system for cooling. The 15,000 square foot house with 28 zones of radiant heat is extremely energy efficient and according to the owners costs less to heat than a house half its size.

Outdoor living room with fireplace
and radiant heated floor

The house was built for both formal and casual entertaining. This outdoor living room with a fieldstone fireplace and radiant-heated floor extends the outdoor entertaining season until late fall or even early winter.

The reclaimed ten-pin commercial bowling lane is situated adjacent to the media room and entertainment area. It comes complete with computer scoring and automatic ball return.

Lower level bowling lane is seamlessly incorporated into the entertainment area

Two-level theater features state-of-the-art 120" screen with 1080p projection system.

The home theatre is integrated with the bowling lane seating area so that guests can hop up from a game and hone their bowling skills during half-time intermission – or any break in the action.

Hand-crafted wine cellar
made from oak timbers

Custom built in Europe by the finest craftsmen, this mahogany library was imported and installed on site

Kitchen with custom cherry cabinets
and granite countertops

Making thoughtful use of excess materials on the property during the construction process, the owners had this 1000+ bottle wine cellar hand-crafted from oak timbers that were harvested on site.

The ultimate chef’s kitchen boasts views of the Todd Pond and includes an 11-foot island for food preparation as well as gathering. There is plenty of room for more than one chef at a time and the top-of-the-line appliances, including a custom Lacanche Stove, imported from France, make it a pleasure to cook here.

Bright master bathroom with beautiful travertine marble floors. This luxurious bath features a custom 20,000-stone mosaic floor hand-crafted in Lebanon

Enjoy the view from the family room's curved wall of floor to ceiling windows

Living room with imported
Carrera marble fireplace

Both the family room off the kitchen and the formal living room offer the classic elements of high ceilings, triple-crown moldings and wood-burning fireplaces. In addition, the family room has French doors to the terrace overlooking Todd Pond.

This tennis court/basketball court is just one of many recreational features

The property boasts recreation opportunities for young and old alike.  This hard surface tennis court also doubles as a basketball court. The property links directly to trails allowing one to run, walk, cross country ski, hung or even ride a horse right from home.  Todd Pond offers fishing for bass and other fish and ice skating in winter.

Swimming pool/conservatory

This saltwater maintenance-free pool is a family delight!  Situated right off the kitchen, the pool is enclosed with mahogany window walls on four sides including two 26-foot-wide sliding doors that open to the outdoor patio. The family uses the pool year-round.

19-acre Todd Pond stocked with bass and other fish

This property has it all including ultimate seclusion and privacy with the ability to walk to Lincoln center for dinner or to catch the commuter rail to Boston’s North Station.  The owners chose this location for its easy access to Cambridge, Boston and to private aviation at nearby Hanscom Field.

Click here to see the many systems and features of the house.

LandVestThis blog entry is brought to you by Terrence Maitland (tmaitland@landvest.com) who has been assisting buyers and sellers of Weston, MA Real Estate, as well as distinctive real estate in the Boston area for over 20 years.  Terry and his sales partner Nicole Monahan have achieved a portfolio of record sales in Brookline and Boston environs.

PrintFriendly
 
Nov
9
The Mandarin Oriental in Boston, MA
By LandVest
 

The Residences at the Mandarin Oriental in Boston, MA:
LandVest’s Listing Offers Luxury, Location and Convenience

Panoramic view of Charles River from the terrace of
this outstanding 6,111 sq ft residence at the Mandarin

Looking for Boston’s highly coveted address? You will find it at 776 Boylston Street – in the heart of Boston’s Back Bay – home of The Mandarin Oriental. This spectacular five-star hotel and residential complex was completed in 2008, with some 49 luxurious private residences with full hotel and dedicated concierge services.

On the day the doors opened, The Mandarin Oriental residences were already sold out, as the new residential owners had contracted for their units in some cases years earlier, before the ground had even been broken on the 14-story building adjacent to the Prudential Center.

Living room has stunning views on
three sides and access to two terraces

The complex was the brainchild of developers Steve Weiner and Robin Brown, the latter a former hotelier who knew exactly what would appeal to a clientele interested in the ultimate luxury, convenience and location. The pair, with an able assist from CBT architects, who designed the building, fashioned a product filled with the finest amenities.

What is it that attracts residents to the Mandarin and commands some of the highest prices in Boston? Start with high ceilings, walls of glass, terraces and outdoor spaces (in many cases), and top quality design and materials. Next, the vibrant location with fine dining, chic boutiques and bustling activity at every turn. Add in the full concierge services, from valet parking (or self-park) to package delivery and a staff that anticipates your needs. Mix in full hotel services at your fingertips including catered cocktail and dinner parties in your own home, and you have a wildly successful formula. This is the place to be.

Entertain on a grand scale in this dining room with terrace access and breakthtaking views

The most outstanding listing at the Mandarin Oriental at present is LandVest’s Unit West 11-B, a 6,111-square foot residence that offers generous and luxurious spaces, not to mention views on three sides, including the panoramic tableau of Back Bay roof tops and the Charles River – from Fenway Park to Beacon Hill.

The master bedroom suite
offers "his and hers" baths

The unit offers abundant natural light through floor-to-ceiling windows and two outdoor terraces.

The floor plan reads like a single family home and includes a large dining room and living room, each with incredible views, access to outdoor space and gas-log fireplaces.

The family space offers a luxurious master bedroom with his and hers closets and full baths, along with two generous family or guest bedrooms with en-suite baths. A walnut-paneled library with fireplace also commands stunning views.

The offering price of Unit West 11-B, one of the largest units at the Mandarin, is $12,500,000

By way of comparison, since its 2008 opening, the Mandarin Oriental has experienced 17 sales and resales above $6 million, including five above $10 million. The per square foot prices have ranged as high as $2,475.

This unit is the largest and most desirable unit offering one-floor living available in Boston at this time.

LandVest This blog entry has been brought to you by Terrence Maitland (tmaitland@landvest.com) who has been assisting buyers and sellers of Weston, MA Real Estate, as well as distinctive real estate in the Boston area for over 20 years. Terry and his sales partner Nicole Monahan have found homes for buyers that were not yet for sale, and have achieved a portfolio of record sales in Brookline and Boston environs.

PrintFriendly
 
Oct
30
Price Reductions for North Shore Properties
By LandVest
 

Newly Priced:  A Tremendous Opportunity
to Acquire Premier North Shore Properties located in
Prides Crossing and Manchester-by-the Sea

Impressive 6,000 square foot home with dramatic water views on 2.4 acres with private sandy beach and dock

Smith’s Point Estate by the Sea

2.49 acres

14 Smith Point Road, Manchester by the Sea, MA   01944

$5,695,000

________________________

Handsome Colonial in the historic section of Beverly known as Prides Crossing with rights to private West Beach Corp

Avalon at Prides Crossing

1.66 acres

3 Avalon Avenue, Beverly, MA   01915

$2,195.000

________________________

For more information on Boston’s North Shore real estate market, contact Lanse Robb (lrobb@landvest.com) or visit the Lanse Robb website  www.lanserobb.com.

Click here to view more North Shore Real Estate for Sale

PrintFriendly
 
Sep
30
Manchester-by-the-Sea Real Estate Sales Increase 36%
By LandVest
 

Highest residential appreciation in Boston area, year to date, is in Manchester-by-the-Sea as cited in the recent Boston Globe survey.  Contributing factors could be the new $55,000,000 Manchester-Essex Regional High School, the incredible beaches and ocean access, the commuter rail access to Boston’s North Station and Route 128…all this and just a 90 minute drive to ski country.

Sandy Hollow - 6.48 acre waterfront compound on North Shore's Gold Coast

Elegant restored home on 2.4 acres has dramatic water views and access to beach and dock

Magnificent Victorian shingle-style home designed by Peabody and Stearns on 1.46 acres with access to a private sandy beach and association dock

For more information about the above properties, contact Lanse Robb (lrobb@landvest.com) at LandVest in Boston, MA.

Click here to view more North Shore Real Estate for Sale

PrintFriendly
 
Sep
27
Boston Globe Quotes Terry Boyle in Article on Cohasset Waterfront Properties – 2011
By LandVest
 

Terry Boyle from LandVest, who lives and works on the South Shore of Boston, is quoted in the Boston Globe article titled “On Cohasset Waterfront, 3 very pricey offerings”.  Globe business writer Johanna Seltz examined the current state of Cohasset’s high end real estate market, including the historic context of the South Shore market and talked with Terry about his view of Cohasset waterfront properties, his listing of Red Oaks, and South Shore luxury real estate in particular.

“It has a private causeway leading up to the house.  There really are no neighbors at all….”  Click here to read the full article.  Please note the following correction;  the article erroneously attributed the sale of the $10M property on the South Shore to another brokerage firm when in fact that sale was a LandVest sale.

Contact Terry Boyle at  LandVest in Boston, MA for more information about real estate for sale in Cohasset or on the South Shore, or if you are considering listing your home for sale.  Tboyle@landvest.com

This waterfront estate is situated on a forty foot high granite outcropping with expansive views of Little Harbor in Cohasset.

Red Oaks is a magnificent private estate on 7.9 acres.

PrintFriendly
 
Aug
25
Location Location Location, South End Real Estate News
By LandVest
 

Location, Location, Location:

A South End Boston Home Offers Privacy, Convenience and Luxurious Gastronomical Living

The South End of Boston has been touted as Boston’s most vibrant community, a tree-lined neighborhood with an abundance of art galleries, boutique shopping, 11 residential parks, an open market, al fresco coffee shops, and four-star dining. It’s no wonder the real estate market has been somewhat stable here and that folks stroll about with smiles on their faces.

The South End is defined as being south of Boston’s Back Bay, southwest of Bay Village, and northwest of South Boston.  The two main streets are Tremont and Washington Streets from West Newton Street to Berkeley Street.

Stately row of Victorians on Appleton Street in Boston's South End

LandVest’s 46 Appleton St listing is a contemporized c1868 row house that lies in the heart of the South End on one of its most desirable streets.  The Appleton Street location (between Clarendon and Berkley) puts you within three blocks of some of Boston’s finest new and established restaurants. From Hamersley’s Bistro, Aquitane, Stephi’s on Tremont to Pops, there is something for every palate. Gastronomical events embellish every season with the latest happening just this past Wednesday night when Jay Haaj of Mike’s Diner hosted a one-night “Pop Up” dinner that highlighted the culinary talents of Ken Oringer and Jamie Bissonnette. When not dining out, this home offers a state-of the art kitchen and several dining and entertaining areas, both inside and out where a lifetime of memories are waiting to be created.

With all of the South End’s incredible eateries, the owners of 46 Appleton enjoy picking up take-out and dining in this private patio off the kitchen.

Gather with friends for a dusky cocktail hour while the city begins to light up the evening sky.

Invite one of Boston’s private chefs to ignite your gourmet senses in this state-of-the-art kitchen.

One of the many working fireplaces that help create 46 Appleton Street’s large but cozy atmosphere.

Naturally this listing offers more than adventures in gastronomy.  Beginning with its architectural heritage, the South End lies on a former neck of land that was enlarged in the 1850’s as part of renowned architect Charles Bulfinch’s Boston enlargement plan.  Bulfinch erected brick bow-front (bay window) townhouses with cast iron railings and iron framed gardens, surrounded by parks and greenways as an escape from the overcrowded Beacon Hill.

This top to bottom new construction lies in the heart of the South End.

While the exterior maintains its row house heritage, the interior has been newly constructed for luxurious, state-of-the-art living. With 3,500 square feet, 5 bedrooms and 3.5 baths, it defies the average tightly-quartered city living standards and even includes a discretely designed elevator which allows easy access to all floors.

With public transportation just steps away, this location is ideal for anyone commuting within the city or its environs and, with Logan Airport not far away, it is equally favorable for the frequent flyers.  For more information on 46 Appleton or other South End Real Estate needs, contact Mary-Elisabeth Jones at mejones@landvest.com or call (617) 948-8057.

This blog entry was brought to you by Mary-Elisabeth Jones who assists buyers and sellers of distinctive properties throughout Greater Boston and Cape Cod.  Most recently Mary-Elisabeth has been working with buyers and sellers in Boston’s Back Bay, Beacon Hill, South End, Greater Boston’s Cambridge, Carlisle, Concord, and Cape Cod’s Osterville and Wianno.

PrintFriendly
 
Aug
18
Sandy Hollow Waterfront Compound in Manchester-by-the-Sea, MA gives one million dollar price reduction.
By LandVest
 

As An Adjustment To Current Market Conditions,

Sandy Hollow Waterfront Compound in Manchester, MA

Has Reduced Its Price By $1,000,000

Among its many amenities, this extraordinary offering boasts the following:

  • estate is sited on over 6 oceanfront acres on the exclusive peninsula knows as Smith’s Point
  • potential division of beachfront carriage house on 2± acres
  • 11-bedroom, elegant main residence
  • beachfront stone carriage house
  • recently renovated one-bedroom waterfront bungalow
  • bungalow is sited on the water’s edge and has access to a sandy beach ideal for boating, swimming, and other watersports activities
  • ocean-facing swimming pool, and stunning shoreline showcase views of the nearby islands down the coast to Beverly and Marblehead Neck

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

 

Sandy Hollow Waterfront Compound

6.48 acres

7 Smith’s Point Road, Manchester, MA   01944

$11,250,000

————————————————

Click here for Lanse Robb contact info.  Click here to view more North Shore Real Estate for Sale

PrintFriendly