Luxury MASSACHUSETTS REAL ESTATE 2013 VS 2014 presented by Fine Homes & Luxury Properties A LOOK AT LUXURY REAL ESTATE GROWTH IN SELECT MASSACHUSETTS CITIES 2014 brought considerable growth of luxury real estate sales to cities throughout the Commonwealth. Year-overyear, transactions on all home sales in these specified cities and markets priced at $750,000 and above are up 6.6%. With a concentration of top-notch industries in education, healthcare, finance and tech, the Commonwealth benefits from an influx of international money, said Dan Breault, Executive Vice President of RE/MAX INTEGRA, New England. We are fortunate to have a large international community that believes real estate purchases in the greater Boston area make for an excellent investment. Transactions on homes priced between $750,000 and $1,000,000 have increased 2.5% year-over-year with 2,898 transactions posted in 2014. Areas of significant growth include Boston s Waterfront with a 200.0% increase; Jamaica Plain with a 136.8% increase; Boston s Seaport District with an 89.5% increase; and Chinatown with a 50.0% increase. Transactions on homes priced between $1,000,000 and $3,000,000 increased 8.8% over 2013 numbers with 4,212 transactions listed in 2014. In this category, Boston s Seaport District increased 100.0%; Jamaica Plain increased 42.9%; Belmont increased 40.8%; Boston s Waterfront increased 31.3%; Lexington increased 25.5%; and Chestnut Hill increased 25.0%. Transactions on homes priced at $3,000,000 and above had the greatest year-over-year increase at 15.9%, with 336 transactions posted in this category in 2014. The top areas in this price point include Boston s Waterfront and Wellesley each with a 300.00% increase; Boston s West End with a 100.0% increase; Brookline with an 83.3% increase; Newton with a 33.3% increase; and Back Bay with a 26.3% increase. *Luxury sales defined as home sales +$750,000. Markets are select Boston neighborhoods as well as surrounding cities with an average home sale price of +$750,000. All data represents MLSPIN as interpreted by RE Stats. Data reflects combined Single Family and Condo transactions from 1/1/2013-12/31/2013 and 1/1/2014-12/31/2014 within MLSPIN. Newton market data excludes Chestnut Hill.
BACK BAY -19.0% -14.8% 26.3% 6.2% 6.8% 9.5% -12.2% 2.8% -9.7% $2,062,741 + 10% BEACON HILL CHARLESTOWN CHINATOWN FENWAY JAMAICA PLAIN -16.7% 11.1% 16.7% 0.2% 9.5% -2.2% -35.2% -11.4% -12.5% -17.9% 7.1% -26.2% -18.2% 0.6% -38.1% $750-$1 MILLION 50.0% 14.5% 0.5% 16.4% 2.6% -20.6% 14.3% 9.4% -67.9% $750-$1 MILLION 6.3% 0.7% -2.7% 21.4% 14.9% 43.0% 150.0% 93.4% -6.1% 136.8% 11.0% 28.0% 42.9% 36.9% -36.7% $2,451,785 + 9% $1,053,917 + 4% $1,593,811-2% $1,629,141 + 33% $1,027,741-5%
NORTH END & HARBOR -28.6% 11.5% [6]* 1.1% 1.2% 4.3% 30.7% $1,356,160 + 12% SEAPORT SOUTH END WATER FRONT WEST END 89.5% 100.0% [2]* 11.2% -1.5% 26.5% 29.5% 24.2% 10.8% -20.2% -11.1% 10.6% 4.8% -71.4% -26.8% 224.5% 200.0% 17.7% -48.9% 31.3% 3.8% 45.1% 300.0% 22.2% 23.2% 20.0% 7.1% -14.9% 4.5% 14.8% 11.6% 100.0% -10.4% 32.1% $908,061 + 0% $1,306,676-2% $1,613,570 + 2% $1,411,976 + 9%
BELMONT -20.3% 40.8% -100% -0.2% 0.5% -0.9% -27.9% $1,135,734 + 6% BROOKLINE CAMBRIDGE CARLISLE 13.5% 32.8% 83.3% 5.1% 10.2% -1.4% -22.1% 2.0% -36.8% -7.0% 12.6% -35.0% 26.5% 13.5% -8.9% -58.3% -14.7% 17.8% $750-$1 MILLION 21.4% 2.9% 5.3% 75.0% -11.2% 123.5% $1,481,343 + 8% $1,296,289 + 0% $1,161,638 + 11% CHESTNUT HILL $750-$1 MILLION -20.4% 25.0% -18.2% 12.7% 2.6% 10.5% -12.6% 53.2% -45.3% $1,480,444 +1%
COHASSET 28.6% -22.9% -75.0% -5.6% 20.5% -5.9% -22.6% -12.6% -80.9% $1,207,547-10% CONCORD DOVER HINGHAM -15.1% -2.4% -25.0% 3.7% 4.4% -22.5% 25.9% 7.6% 55.1% 0.0% -4.3% -41.6% 23.3% 7.0% 21.3% -66.7% 61.0% 352.8% -2.8% -1.5% -16.7% 13.2% 3.5% -14.9% 0.0% -16.5% 163.8% $1,340,154-1% $1,370,293 + 2% $1,199,880 + 8% LEXINGTON -8.7% 25.5% [4]* 5.5% 0.9% -0.4% 21.2% $1,277,600 + 7%
LINCOLN MANCHESTER BY - THE-SEA NEEDHAM NEWTON SHERBORN WELLESLEY 10.0% 48.0% 0.0% 19.2% -3.2% 21.5% -11.5% 25.1% -88.7% -7.7% 1.7% -8.3% 171.4% 4.0% -9.6% 25.0% -13.4% 158.0% 25.9% -8.4% 11.4% 5.6% -10.8% -24.7% 4.0% 4.8% -5.1% 7.8% 4.1% 12.2% 33.3% -0.3% 14.8% -40.0% -1.9% -54.9% 57.1% -3.4% 8.7% [2]* 21.9% 22.7% -35.7% -5.9% 10.9% -16.8% 300.0% 6.8% 44.2% $1,276,697-5% $1,623,375-3% $1,144,003-3% $1,240,988 + 0% $1,083,472 + 14% $1,489,048 + 12% WESTON WINCHESTER 5.7% -20.9% 38.5% 0.8% 4.3% -5.4% -34.6% -8.6% -24.6% -26.4% 8.6% -100.0% 6.2% 5.7% -25.2% -20.0% $1,853,915 + 11% $1,177,862 + 6%
About RE/MAX INTEGRA, New England and RE/MAX INTEGRA Since its inception in 1985, RE/MAX INTEGRA, New England has grown to over 200 offices and 2,700 sales associates throughout Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, providing franchised residential and commercial real estate services to its franchisees and their real estate professionals. RE/MAX INTEGRA, New England is owned by RE/MAX INTEGRA, a privately-held company headquartered in Toronto, Canada. RE/MAX INTEGRA is the largest sub-franchisor of RE/MAX, LLC worldwide, and represents 28,000 agents and approximately 30 percent of RE/MAX, LLC. For more information about RE/MAX INTEGRA, New England or RE/MAX INTEGRA, visit the RE/MAX INTEGRA, New England blog at www.remaxne.com and follow us on Twitter at @REMAXNE. RE/MAX is proud to help raise millions of dollars and support local charitable organizations including Susan G. Komen for the Cure and Children s Miracle Network Hospitals. MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. All raw data remains the intellectual property of each local MLS organization. copyright 2015 RE/MAX INTEGRA, New England 8 Strathmore Road Natick, MA 01760 (508) 655-9400 remax.com remaxne.com Fine Homes & Luxury Properties