LandVest Sets New Record Sale – Confirms Resurgence in Boston’s North Shore Real Estate Market

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Luxury property specialist LandVest Inc. sells 284-acre coastal estate, the highest priced residential sale in Ipswich, MA.

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LandVest Inc.

The recent pool of buyers have come from Connecticut, Colorado, New York, Georgia and Nantucket and the Cape in Massachusetts as well as Weston, Hamilton and Winchester, MA. Waterfront properties offering land and privacy are seeing the most activity.

LandVest Inc., a luxury property specialist, recently completed a $7,700,000 sale of a 284-acre coastal estate, setting a record for the highest priced residential sale in Ipswich, MA. This is 60% higher than the last record sales in Ipswich, also set by LandVest earlier this year at $4,050,000 for 123 acres (for conservation and recreation), and last year at $4,650,000 for another 220+ acre coastal estate.

The North Shore has not seen a sale at this price point in all of Essex County since LandVest’s sale of 7 Smith’s Point in Manchester-by-the-Sea, which sold for $8,400,000 in 2012. The landmark property was the largest coastal offering in Southern New England and was one of three parcels (also recently sold by LandVest) that were once owned by Richard T. Crane, an early 20th century plumbing magnate.

Boston’s North Shore was “the” place to own property during the “Country Place Era” at the turn of the 20th century when wealthy Bostonians constructed houses in the countryside as retreats from over-crowded industrialized cities. Boston’s North Shore is seeing a resurgent trend with buyers requesting private “estate-like” settings where individuals and families can escape the crowds.

LandVest Region Manager and the North Shore’s top luxury broker (per MLS Pin 1 million plus sales) Lanse Robb states that the past several years have been relatively quiet in comparison to the recent upswing in activity. “Midsummer has seen a surge in activity on the North Shore in the luxury market. We put under agreement over $22 million in listings, all due to close within the next few months,” said Robb. “The recent pool of buyers have come from Connecticut, Colorado, New York, Georgia and Nantucket and the Cape in Massachusetts as well as Weston, Hamilton and Winchester, MA. Waterfront properties offering land and privacy are seeing the most activity.”

Some have speculated that the town of Manchester-by-the-Sea is seeing more traffic due to the seaside images captured in the movie “Manchester by the Sea.” “I don’t know about that,” noted Robb. “What I do know is that Manchester offers what everyone seems to be looking for -- a quaint town center that looks out on a beautiful harbor, with well-appointed, amenity-rich waterfront homes. It’s also has a highly-rated school system, great restaurants, near a private jetport, an international airport, near a world-class museum (The Peabody Essex) and performance center (the Shalin Liu Performance Center), not to mention Manchester is just a 50-minute train ride into Boston.”

The following currently available properties are two examples of homes located in Manchester with all the sought-after attributes: 33 Proctor, http://www.landvest.com/property/42031457/33-Proctor-Street-Manchester-by-the-Sea-MA-01944; 35 Coolidge Point, http://www.landvest.com/property/37816327/35-Coolidge-Point-Manchester-by-the-Sea-MA-01944.

About LandVest Inc.
LandVest Inc. brokers serve the Greater New England luxury and high-quality market from the Connecticut coast to the Adirondacks to Mount Desert. LandVest is an affiliate of Christie’s International Real Estate. For more information about New Hampshire real estate, please call Kristin Claire at (603) 227-2411, or visit http://www.landvest.com.

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