South Shore luxury home sales - August 2013

It's been a busy summer for luxury home sales on the South Shore of Massachusetts. Luxury homes are the ones priced in the top 10% of all the homes for sale on the South Shore - at or above $1,250,000 in Cohasset, Duxbury, Hingham, Kingston, Marshfield, Norwell, Pembroke, Plymouth and Scituate.

14 luxury single-family homes sold in August

• A detailed list appears below

The AVERAGE

• SALE price was $1,678,000
  
• LISTING price was $1,766,000
• ORIGINAL price was $1,859,000
• ASSESSMENT was $1,568,000
  
• AGE is 61 years (built in 1952)

Average = total prices / number of homes

The MEDIAN

• SALE price was $1,410,000
• LISTING price was $1,575,000
• ORIGINAL price was $1,795,000
• ASSESSMENT was $1,500,000

Median = the home halfway down the list

The average

• number of days on market was 148
• price paid per square foot was $394
  
• homes sold for about 90% of their original asking price and 95% of their last listing price

There are 124 single-family luxury homes on the market on the South Shore today

• That's 9 months of inventory, higher than other segments of the market

16 new properties came on the market in August

• leaving inventory about the same as the previous month

Mortgage interest rates are trading around 4 1/2%

• At 4.5%, the monthly payment per $100,000 of principal loan amount is $506

In the South Shore luxury single-family home market, well-priced homes are selling quickly, but there are a number of homes that have had significant price reductions before selling. Buyers should be aware that the most attractive homes are sometimes attracting multiple offers.

Contact me to sell your home, or to arrange a private showing of any home for sale on the South Shore

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View all the luxury homes for sale on the South Shore at Luxury South Shore Homes for sale

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Numbers may be rounded to nearest thousand. The information contained in this report, South Shore luxury home sales - August 2013, was taken from MLS Data run on 09/02/2013 and represents all single-family home sales on the South Shore with sales prices at or higher than $1,250,000 from 08/01/2013 to 08/31/2013. It is deemed reliable but cannot be guaranteed. It is not our intention to solicit other real estate broker’s clients. We are happy to work with them and cooperate fully. ©2013 Coldwell Banker Real Estate LLC. Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Employer. Equal Housing Opportunity. Owned and operated by NRT, LLC.