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+, Q1-Q3, 2000-2010

In Middlesex County, Massachusetts, in the first three quarters of 2010 the inventory of high-end listings grew to nearly record levels (182 listings vs. a peak of 187 in 2009). Q1-Q3 high-end sales peaked in 2006 (98 sales) and 2007 (105 sales). The past three years have seen considerably less activity in the first three quarters: 88 sales in 2008, 45 sales in 2009, and 57 sales in 2010. The uptick seen in the first quarter was sustained in the first half, but lagged again in the third quarter. Towns with high-end sales in the first three quarters of 2010 are Belmont, Cambridge, Concord, Lexington, Lincoln, Newton, Wayland, Weston, and Winchester.

Highest and Average Sale, $2,000,000+, Q1-Q3, 2000-2010 

Q1-Q3 sale prices peaked in 2004-2007 at the $6,000,000 to $7,000,000 level with an anomalous $10,000,000 sale in 2008 in Weston. In 2010, the top sale in the first three quarters was $6,500,000 in Chestnut Hill (Newton). Average Q1-Q3 sales prices are generally more stable in the range of $2,600,000 to $2,900,000 over the past ten years. In the first three quarters of 2010 the average sale price was $2,703,238.

Days on Market, Sales, $2,000,000+, Q1-Q3, 2000-2010 

Days on market for Q1-Q3 high-end sales have varied dramatically over the past 10 years. In the first quarter of 2010, properties that did sell, sold quickly, while in the second and third quarters days on market have increased, but are better than in 2009. Average days on market for the first three quarters were 180 vs. 240 in 2009 and 173 in 2008. Despite the continued uncertainty in the market, special properties expertly presented and well priced are selling.

Sales by Town, $2,000,000+, Q1-Q3, 2000-2010

Nine of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in the first three quarters of 2010. Over the period 2000-2010 Weston is the leader with 207 sales followed by Newton (183), Cambridge (128), and Concord (97). On a population-adjusted basis, Weston is also the leader by a 3-fold margin followed by Concord and Lincoln.

This Carlisle Land property is currently under agreement

Monument Street Estate is currently for sale in Concord

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, the Metro West area of Boston.  View Stewart’s current Real Estate listings.