Middlesex County, MA Real Estate Market Report

May

MA Real Estate News, Middlesex County: High-End Market Watch, First Quarter, 2012
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 farm land, and two highly-regarded boarding schools: Groton School and Lawrence Academy.

Active Listings and Sales, $2,000,000+, First Quarter, 2012

In Middlesex County, Massachusetts, in the first quarter of 2012 the inventory of high-end listings grew slightly compared to last year at this time (136 vs. 130 listings in Q1 2011 and a peak of 174 in Q1 2006). First quarter high-end sales contracted substantially to 15 sales compared to nearly record levels in 2011 (23 sales) and compared to the peak in 2005 (24 sales) and 2007 (23 sales). The first quarter of 2011 started off more strongly than 2010 and several record sales set an optimistic tone. Unfortunately, the middle of the year lagged and fell behind in the last quarter of 2011 with 77 sales for the year vs. 81 for 2010.

Highest and Average Sale, $2,000,000+, First Quarter, 2012

First quarter sale prices peaked in 2005 to 2007 at the $6,000,000 to $7,000,000 level and there was an exceptional $15,600,000 sales in the first quater of 2011. In 2012, the top first quarter sale was LandVest’s sale of the Great Meadows estate in Concord for $5,264,699. Average first quarter sales prices have been generally more stable in the range of $2,400,000 to $2,900,000 over the past 10 years. In the first quarter of 2012 the average sale price was $2,928,195.

Days on Market, Sales, $2,000,000+, First Quarter, 2012

Days on market for first quarter high-end sales have varied dramatically over the past 10 years. Average days on market for Q1 2012 were 144 vs. 197 in 2011, 139 in 2010, and 308 in 2009. The average days on market for the first quarter over the period 2000-2012 is 184. Despite the continued uncertainty in the market, special properties expertly presented and well priced are selling.

Sales by Town, $2,000,000+, First Quarter, 2012

Seven of the 54 cities and towns in Middlesex County Massachusetts had high-end sales in the first quarter of 2012. Weston was the leader with 6 sales followed by Cambridge(3), Concord (2), Lexington (1), Newton (1), Wayland (1),and Winchester (1). For first quarter sales over the period2000-2012, the leaders are Newton (50), Weston (48), Cambridge (36), Concord (18),and Lexington (15).

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.

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

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 is collected from Multiple Listing Services and does 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.

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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.

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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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.

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.

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

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Jul

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.

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

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May

Middlesex County, MA Real Estate News: High-End Real Estate Market Watch Q1 2011
By LandVest

Active Listings and Sales, $2,000,000+, Q1 2000-2011
Middlesex County, Massachusetts

In Middlesex County, Massachusetts, in the first quarter of 2011 the inventory of high-end listings contracted significantly (130 vs. 171 listings in Q1 2010 and a peak of 174 in Q1 2006). On the other hand, first quarter high-end sales grew to nearly record levels (23 sales) compared to the peak in 2005 (24 sales) and 2007 (23 sales). The past three years have seen considerably less activity in the first quarter: 14 sales in 2008, 10 sales in 2009, and 14 sales in 2010. The first quarter of 2010 also started with an uptick, lagged during the year, and finished off strongly compared to 2009. The first quarter of 2011 is starting off more strongly than 2010 and several recent record sales are creating an optimistic buzz in the brokerage community.

Highest And Average Sale, $2,000,000+, Q1 2000-2011
Middlesex County, Massachusetts

First quarter sale prices peaked in 2005 to 2007 at the $6,000,000 to $7,000,000 level. In 2011, the top first quarter sale was a record $15,600,000 in Weston. There was another nearly record sale in Weston at $8,350,000. Average first quarter sales prices have been generally more stable in the range of $2,400,000 to $2,900,000 over the past 10 years. In the first quarter of 2011 the average sale price was $3,482,696, skewed by these two exceptional sales. The median sale price was $2,600,000.

Days On Market, Sales, $2,000,000+, Q1 2000-2011
Middlesex County, Massachusetts

Days on market for first quarter high-end sales have varied dramatically over the past 10 years. Average days on market for Q1 2011 were 197 vs. 139 in 2010, 308 in 2009 and 185 in 2008. The average days on market for the first quarter over the period 2000-2011 has been 187. Despite the continued uncertainty in the market, special properties expertly presented and well priced are selling.

Sales By Town, $2,000,000+, Q1 2000-2011
Eight of the 54 cities and towns in Middlesex County, Massachusetts had high-end sales in the first quarter of 2011. Newton and Weston were the leaders with 6 sales each followed by Cambridge (3), Belmont (2), Lexington (2), Winchester (2), Concord (1), and Sherborn (1). For first quarter sales over the period 2000-2011, the leaders are Newton (49), Weston (42), Cambridge (33), Concord (16), and Lexington (14).
Add photos of listings, please include Stonegate Farm and River Road Farm

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

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

The LandVest High-End Market Watch is a periodic review of select high-end markets in Maine, New Hamshire, Vermont, and the Adirondacks. Market Data is collected from Multiple Listing Services and do not include private listings. LandVest makes no representation as to the accuracy of this data, and therefore is not responsible for any actions taken as a result of use or reliance on this information.

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Feb

Middlesex County Real Estate News: High-End Market Watch
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+, YEAR END, 2000-2010

In Middlesex County, Massachusetts in the fourth quarter of 2010, the inventory of high-end listings shrank as expected in the winter months to 114 listings from a third quarter level of 182. The record for year-end inventory was 133 listings in 2005. The number of high-end sales peaked in 2006 (121 sales) and 2007 (126 sales). The past three years have seen considerably less activity: ninety-eight sales in 2008, sixty sales in 2009, and eighty-one sales in 2010, an increase of 35% over 2009. However, 2010 sales remained 36% lower than the peak in 2007. The uptick in sales in the first quarter of 2010 was sustained in the first half, lagged in the third quarter, and came back strongly in the fourth quarter. Towns with high-end sales in 2010 were Belmont, Cambridge, Concord, Lexington, Lincoln, Newton, Sudbury, Wayland, Weston and Winchester.

HIGHEST AND AVERAGE SALE, $2,000,000+, YEAR END, 2000-2010

In 2010, the top sale in Middlesex County was $6,500,000 in Chestnut Hill (Newton). In the past eleven years, the highest sale recorded in MLS for Middlesex County was $10,000,000 in Weston in 2008. There was also a private sale in Weston in 2008 for $11,265,000. Average year-end sale prices have been generally stable in the range of $2,600,000 to $2,900,000 over the past eleven years. In 2010 the average sale price was $2,640,536.

DAYS ON MARKET, SALES, $2,000,000+, YEAR END, 2000-2010

Days on market for high-end sales have varied dramatically over the past eleven years. In the first quarter of 2010, properties that did sell sold quickly, while in the rest of 2010 days on market increased, but were better than in 2009. Average days on market for 2010 were 187 vs. 236 in 2009 and 164 in 2008. Despite the continued uncertainty in the market, special properties expertly presented and well-priced are selling. Success in 2011, as in 2010, will depend on reaching out to a broad market with a strong value proposition.

SALES BY TOWN, $2,000,000+, YEAR END, 2000-2010

Ten of the fifty-four cities and towns in Middlesex County, Massachusetts had high-end sales in 2010. Over the period 2000-2010, Weston was the leader with 246 sales, followed by Newton (226), Cambridge (166) and Concord (120). On a population-adjusted basis, Weston was also the leader by a three-fold margin, followed by Concord and Lincoln.

The Monument Street Estate is currently available for sale in Concord.

This Classic Shingle-style on Nashawtuc Hill is currently available for sale in Concord.

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

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Jan

A Grand Concord, MA Estate Renovated to Accommodate Lifestyles of Today’s Real Estate Buyers
By LandVest

In the early part of the 20th century, the Boston affluent built stately brick colonial revival mansions, offering their families gracious, flexible floor plans, large rooms, abundant natural light and elegant interiors. Many of these great estates have been carved up or allowed to suffer from deferred maintenance. Few grand estates remain on large pieces of land, with their gorgeous views and beautifully designed landscapes preserved. Even fewer have been thoughtfully and expertly renovated to accommodate today’s lifestyles.

The Great Meadows Estate Pool House in Concord, MA

One of these rare gems is Great Meadows in Concord, Massachusetts and is currently for sale. On a private road close to Concord Center, with commanding views over the Concord River, and protected by abutting parkland, this magnificent brick home is set in a spectacular landscape and shines with meticulous care and maintenance. The 9,568-sq.-ft. impeccably renovated c1913 Colonial Revival has five bedrooms, six full and two half-baths. The amenities include an eye-popping pool house, media room and caterer’s kitchen, gym, swimming pool, tennis court, fenced-in grounds guarded by a gatehouse and extensive security system. (more…)

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