The luxury sector represents the top 10% of homes by price in the South Shore Massachusetts real estate market: homes with a sales price of $1.25 million or more.
The South Shore luxury homes sector is up 26% year-over-year, based on the number of sales.
Square footage, average sales prices and price per square foot were up from 2012 to 2013. The number of days listings stay on the market before selling is down. The sector is healthy and attractive to buyers.
97, including one auction, sold in 2013
- 77 sold in 2012
- A detailed list of 2013 transactions appears below
A remarkable selection of luxury homes are available on the South Shore right now
- The listings can be found at Luxury Homes for sale on the South Shore
The AVERAGE
-
SALE price was $1.82 million
- up from $1.68 million in 2012
-
LISTING price was $1.95 million
- up from $1.80 million
-
ORIGINAL price was $2.05 million
- up from $1.96 million
- AGE was 91 years (built in 1922)
Average = total prices / number of homes
The MEDIAN
- SALE price was $1.43 million
- LISTING price was $1.60 million
- ORIGINAL price was $2.4 million
- ASSESSMENT was $1.52 million
Median = the home halfway down the list
The average
-
number of days on market was 142 days
- down from 163 in 2012
-
square footage was 4,545 square feet
- up from 4,477 square feet
-
price paid per square foot was $410 per square foot
- up from $400 per square foot
-
luxury home sold for 89% of original asking price and 95% of the last listing price
- up from 86% of the original price and 92% of the last price in 2012
Mortgage interest rates are trading around 4 1/2%
- At 4.5%, the monthly payment per $100,000 of principal loan amount is $506
- At 5.0%, the payment would be $536
-
At 5.5%, the payment would be $568
- If interest rates rise 1.0% this year, 30-year mortgages would cost 12% more
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Luxury Homes for sale on the South Shore
Numbers may be rounded. The information contained in this report, Luxury Homes sold on the South Shore - December 2013, was taken from MLS Data run on 1/03/2014 and represents all single-family home sales in nine South Shore towns with sales prices at or above $1.25 million from 1/1/2013 to 12/31/2013 or the relevant period for the data presented. 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.
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