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Blog :: 2019

Middlesex County | Massachusetts High-End Market Watch, Q1-Q3 2019

Market Highlights

HIGH-END $2,000,000+ MARKETS HIGHLIGHTS

  • Inventory up 11% (record 266 vs 240 last year).
  • Sales up 14% (250 vs record 219 last year).
  • Top sale: $8,750,000 – 18 Skating Pond Road, Weston, new construction, 12,000 sq ft Colonial on 3 acres.
  • LandVest’s markets continue to perform strongly with significant record sales.
  • For the first three quarters of 2019, growing inventory and demand suggest a balanced market, but buyers at the high-end continue to be value conscious and have little tolerance for compromise. As usual special properties, expertly presented, reaching out to a broad market with a strong value proposition, will be well received by the market.

middlesex-county-high-end-market-watch
 


Active Listings

In Middlesex County, Massachusetts, at the end of the third quarter of 2019, the inventory of high-end listings increased 11% to a record 266 listings compared to the record 240 last year.  At the of the second quarter there were 334 listings.

middlesex-county-high-end-market-watch active listings

Since 2010, there have been on average 213 listings at the end of the third quarter.

 


High-End Sales

Sales in the first three quarters of 2019 increased by 14% to a record 250 compared to a record 219 last year. Since 2010 there have been on average 143 sales at the end of the third quarter. The vast majority (74%) of these sales were in the $2-$3 million range. Ten sales were above $5,000,000, only two above $7,000,000, and none above $10,000,000.

middlesex-county-high-end-market-watch High End Sales


Q1-Q3 2019 Top Sale

Property: 19 Skating Pond Road • Town: Weston• Selling price: $8,750,000
New construction, 12,000 sq ft Colonial on 3 acres.  Previously sold for $2,600,000 in 2002.

 


Highest & Average Sale

middlesex-county-high-end-market-watch Highest and Average Sales
 


Days on Market

Days on market for high-end sales at the end of the third quarter 2019 decreased by 29% to 103 compared to 145 last year, the record high of 183 in 2011, record low of 69 in 2001, and the 10 year average of 145. The range is remarkably wide with sales occurring from 3 to 954 days.

middlesex-county-high-end-market-watch DOM
 


Sales by Town

Thirteen of the 54 cities and towns in Middlesex County, Massachusetts, had high-end sales in the first three quarters of 2019. Most of these markets grew compared to last year and their 10 year averages. Cambridge, Concord, Lexington, and Newton had record sales, 30, 22, 36, and 93 respectively. Weston fell back to 34 sales after having a record 36 sales in the first three quarters last year and a 10 year average of 26 sales. Likewise Winchester fell back to 16 sales from last year’s record of 23.

 

middlesex-county ma market watch Sales by Town

58 TRAPELO ROAD Lincoln | $1,500,000
762 BARRETTS MILL ROAD Concord | $1,325,000
695 MONUMENT STREET-Lot 1 Concord | $1,349,000

 


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

Stewart Young | (syoung@landvest.com) | 617-359-8930
or click here to view Stewart’s current Real Estate listings.

 

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    What's It Like to Sell Art with Christie's?

    The latest issue of the Christie’s International Real Estate magazine looks at how selling your art at auction works. Lift the veil on the process with the easy step-by-step guide below.

    First Things First

    Do your research. Figure out if now’s the best time to sell your piece. You can check how the artist is selling on sites like the Artnet’s Price Database. When you’re ready to move forward, it’s time to give Christie’s a call.

    Will they take it?

    You’re ready for Christie’s to sell your piece, but is Christie’s ready? Through either an in-person meeting or via photos, the experts will determine if Christie’s can sell the piece for the price you expect.

    christies-selling-guide-property-evaluation-v2

    Setting the Stage

    Christie’s is confident your piece will sell. Now it’s time to determine how you want that to happen. There are three avenues:

    1. In the salesroom – as part of a public auction in Christie’s calendar.
    2. Private auction – sells outside auction calendar
    3. Online auction – to attract online buyers and millennials.

    While considering your options, check out Christie’s calendar to see if an upcoming public auction is right for you.

    Before the Bids

    Your art must get to Christie’s. You can arrange for delivery or Christie’s can help. Once at the auction house, it will be photographed and catalogued. The experts determine the interest in the piece and work with you to set a reserve price before the sale.selling-guide-the-sale-section-christies

    Hammer Time!

    You won’t want to miss this! Enjoy the rush of the auction in-person or via Christie’s LIVE remote streaming.

    Going…Going…Gone

    After the sale, Christie’s gives you the final sales price and your net proceeds after commission is accounted for. Then it’s payday. Payment from the buyer usually arrives in your account 35 days after the auction.

    Want to read more about Christie’s auction houses and real estate affiliates? Pick up a copy of the latest magazine at one of our LandVest offices.

    Interested in learning more? Email us at kk@catherinebassick.com.
    Give us an idea of what you are interested in selling so we can connect you with the right specialist.

    Great Places to Park Your Car

    MA2288_13As the snow piles up, the rain beats down, the wind starts blowing, or the temperatures spike, the last thing you want is your car exposed and vulnerable to the elements. Spoil your set of wheels with its very own home within your home.

    Whether yours is sporty, super, racing, or classic, your car will be treated well in a property with space meant to pamper your ride (and you):

    12 Smith’s Point | Manchester-by-the-Sea

    great garages MA2288

    MA2288 | Listed by Lanse Robb

    Drive up to this 3-acre oceanfront property through the private Smith’s Point enclave. This home includes garaging for up to 6 cars in attached and detached garages. A security system with cameras and motion detectors will keep watch over your collection. A full bath and plumbing for a kitchen top off this exceptional property.

    Camp Endo | Jamaica, VT

    great garages VT0875

    VT0875 | Listed by Story JenksDia Jenks, and Charles Wise

    A mountain kingdom on 417± acres with plenty of parking options. The main rustic-style home includes an attached garage. Along with a two-bedroom guest suite and a heated half-basketball court with surround sound, the adjacent barn also houses a 3-bay garage.

    892 Gould Hill Road | Hopkinton, NH

    great garages NH0511

    NH0511 | Listed by Kristin Hayes Claire

    The insulated and heated barn on this Hopkinton property is home to both automotive and equine transportation. One end has 4 stalls while the other has a finished and heated 3-car garage with a Forward Lift 10,000-pound two-post hydraulic lift. Storage cabinets, speakers, and workbenches with an Ingersoll-Rand air compressor and hard-line air complete this fully-equipped garage.

    171 Littleton County Road | Harvard, MA

    great garages MA2416

    MA2416 | Listed by Stanley Edwards and Abby White

    For a car enthusiast who has a collection already or is looking to start one, this 17-acre property down a semi-private drive has the room to grow. Along with the heated attached 2-car garage, there’s an additional heated detached garage with a workshop, second floor storage, 1-ton rated “I” beam with wireless hoist, and cat 5 wiring. Both garages even have surround sound. Also on the property is a barn with two additional garage spots.

    Rockwood Farm | Hamilton, MA

    great garages ma2398

    MA2398 | Listed by Lanse Robb

    At this privately situated 9+ acre equestrian estate, you can park in a newly-built 4-car garage. The Carriage Barn also has a spacious, multi-use function space above – perfect for an office or living quarters.

    Copper Beech Hill | Wenham, MA

    great garages ma1986

    MA1986 | Listed by Lanse Robb

    Own a car for every day of the week? The carriage house/stable at this property on the 15th green at Myopia Hunt and Polo Club has parking for 3 cars, seven horse stalls, and a 3-bedroom apartment on the upper level. Two additional detached garages bring the total number of spaces to 7.

    328 Clapboardtree Street | Westwood, MA

    great garages ma2183

    MA2183 | Listed by Jay Boyle

    At the end of your daily commute to Boston, bring your car home to this three-story manor house overlooking over 6 acres of walled gardens, rolling lawns, and wooded groves. Features in this heated 3-car attached garage include automatic doors, a work bench, and even a wine refrigerator.

    214 Lowder Street | Dedham, MA

    great garages MA1892

    MA1892 | Listed by Jay Boyle and Terry Boyle

    There’s no need to dread braving the cold in the winter thanks to the heated 3-car garage at this classic shingle-style mansion designed by Morehouse MacDonald. Auto-openers and a security system help make life easier, too. And for sports enthusiasts, there is an ice rink and skate house with locker room, bathroom, living room and even a garage for a Zamboni!

    Foster Farm | Weston, VT

    great garages VT0749

    VT0749 | Listed by Story Jenks, and Dia Jenks

    Just outside Weston village, this 28± acre property is the best in country living with broad views of rolling meadows and mountains. The Bank barn built in 2007 for antique cars, includes a 3-bay garage that can store 8 cars, is outfitted with a car lift and heated shop, and on the lower level a 4-stall stable. Plus an observatory in the silo and solar panels on the roof.

    16 Rolling Lane | Dover, MA

    great garages MA2278

    MA2278 | Listed by Jay Boyle

    Emerge from the tree-lined drive of this secluded and private eight-acre estate and have your choice of parking spots. The 3-car attached garage has an elevator to the in-law suite and the additional detached 2-car garage is heated. The detached garage also has a private apartment on the second floor.
     


    Whether you’re in the market for a new home or a new car, head to the 25th Annual Weston Antique and Classic Car Show this Saturday, September 21. Meet Catherine Bassick and check out these great properties from 8am – 3pm.

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