Needham Luxury Market Report 2003 - 2008
Properties sold over $1 Million
1-03 --6-08
Here are some interesting stats for the luxury home market as follows:
2003 2004 2005 2006 2007 20008
1 Million $ bracket - 17 41 47 48 57 23
2 Million $ bracket - 4 8 4 8 5 2
3 Million $ bracket - 1 0 0 0 1 0
4 Million $ bracket - 0 0 0 0 0 0
5 Million $ bracket - 0 0 1 0 0 0
7 Million $ bracket - 0 1 0 0 0 0
The luxury market sales increased in 2005 and 2006 and especially in 2007 but notice the change in 2008.
By way of comparison I am including the "Dover" Luxury Market Report 01-2003--6-2008
In Dover the average price range is $1,109,497 anyway while Needham's average price range from 1/01/08 to 8/15/2008 is $787,014.
1 Million $ bracket - 24 38 33 24 28 7
2 Million $ bracket - 5 5 4 3 6 1
3 Million $ bracket - 1 3 1 1 0 0
4 Million $ bracket - 0 0 1 0 2 1
5+Million $ bracket - 0 0 0 0 0 0
Over 6 Million $ - 0 0 0 0 0 0
It is wonderful for communities that are side by side to enjoy what each town offers. Dover offers a rural community with more private residences. Needham offers wonderful services and is a bit closer to Boston and option of commuting by rail or bus. Great towns with much to offer. It just depends on which appeals to the individual needs.
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