Massachusetts Luxury Real Estate July 2022
The first attached graph displays the geographic distribution of single-families that have sold over $3 million during the 12 months ending July 31, 2022, based on MLS data. In that time period, 424 single-family properties conveyed over $3 million (excluding houses on Cape Cod and Islands and in the Berkshires) in Massachusetts.
Thirty-seven cities and towns are represented on the graph. (The data for Boston are only for single-family townhouses.)
What is NOT reflected in this graph are the condos sold for over $3 million. In this same time period – the last 12 months – 217 condos in this price range were conveyed in these communities. Of these, 199 were in Boston, 13 were in Cambridge, and 5 were in Brookline.
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The second attached graph shows the same time period, but for sales over $4 million. Interesting to note how quickly the number of sales drops off: 424 from $3 million to the top price in Massachusetts vs. just 166 from $4 million to the top price. It’s remarkable that 74% of all sales over $4 million occurred in the top 6 towns – Boston, Brookline, Cambridge, Newton, Wellesley, and Weston. All in close proximity to the jobs and amenities of downtown Boston.
Please reach out to your Hammond agent for additional information about the Greater Boston residential real estate market.
