The Commonwealth is far outpacing the region- and nation- in luxury home sales according to the RE/MAX Collection Luxury Housing Report for Massachusetts. According to Steve Harney, a nationally-recognized real estate expert, this is due in part to an influx of Chinese buyers who find Bay State high-end real estate an attractive investment, particularly for their children who are attending the area’s universities and colleges. The full report is attached to the email for your review.
By the numbers:
· Sales of homes priced at $3million+ are up more than 35.% in Massachusetts year-over-year (YOY).
Find out what's happening in Brooklinefor free with the latest updates from Patch.
· Transactions on homes priced $1million + are up 14.6% in Massachusetts YOY.
· Nationally, that number is up 4%.
Find out what's happening in Brooklinefor free with the latest updates from Patch.
· Regionally, that number is up 1.5%.
· Transactions on homes priced between $750,000 - $1million are up 15.2% in Massachusetts YOY.
· Nationally, that number is down -1.7%.
In Boston, areas including the Waterfront, Chinatown and the North End & Harbor have all experienced double-digit increases in luxury sales.