Month: April 2010

Has Spring Finally Arrived for High End Homes?

It’s no secret that the high end market (homes priced above 1.5 million) has been lackluster to say the least. We have seen a definite increase in activity in that segmemt of the market over the last 2 weeks. Even Brookline, where the price slide never really happened, had a few very ultra high end homes under contract. Wellesley’s inventory remains high with quite a supply to go through before we can see any uptick in price. Weston is also starting to see some action. Newton has seen a definite uptick in homes under contract above 2 million. Here is the rundown using data from the last 2 weeks:

Under Agreement
5 homes Average List Price $3,765,800 Market Time 275 days
3 homes Average List price $1,715,967 Average Sale Price $1,671,500 Market Time 112 days

An obvious and dramatic increase in what we would call the ultra high end with 2 homes in the millions and 1 above 6 million

Under Agreement
5 homes Average List $2,452,800 Average Market time 400 days
I also want to chime in here that at least 3 more will probably be added to this list because I and others in my office are currently negotiating offers on 3 properties right now.
1 home Average list price $1,649,000 Average Sale Price $1,617,500 Average Market Time 58 days

Under Agreement
7 homes Average List Price $2,164,000 Average Market Time 137

2 homes Average List $1,822,000 Average Sale Price $1,725,000 Market Time 374

Unger Agreement
5 homes Average List Price $2,452,800 Market Time 400.00

1 home Average List Price $2,599,000 Average Sale Price