Sotheby’s International Realty® 2024 Luxury Outlook

Sotheby’s International Realty® 2024 Luxury Outlook

The Sotheby’s International Realty® 2024 Luxury Outlook report overviews industry trends in high-end residential markets around the world and highlights what you can expect in the year ahead. As buyers are acclimating to the new normal of higher interest rates, high-end home seekers are expanding their searches to more parts of the globe. In this report, we explore topics from emerging markets including Saudi Arabia and Mexico City to the newest tech tools currently disrupting the real estate industry. We know buyers and sellers want to spend—and earn money—wisely, and staying well-informed is just the way to do it.

Through the 2024 Luxury Outlook report, our goal is to help you navigate this fast-moving and ever-changing real estate market. I hope that this compilation of research and industry perspectives, exclusively presented by Sotheby's International Realty, helps you as you look to invest your equity wisely in the year ahead.

Read the full report at:

Luxury Outlook Report 2024

Locally, we've continued to see home prices increase. 

In Essex County, MA, we had 10 home sales over $5M in 2023 including the recording breaking sale of 34 Paine Avenue in Beverly, MA for $18,275,000. 

Location List Price Sale Price
108 Penzance Road, Rockport, MA $5,200,000 $5,200,000
14 Bay View Avenue, Beverly, MA $5,595,000 $5,700,000
3 Pigeon Hill Wharf, Rockport, MA $5,800,000 $5,310,000
301 Summer Street, Manchester, MA $5,850,000 $5,850,000
31 Harbor Street, Manchester, MA $7,995,000 $7,200,000
349 Ocean Ave, Marblehead, MA Non-MLS Sale $7,500,000
29 Old Neck Road, Manchester, MA 01944 Non-MLS Sale $7,680,000
35 Paine Avenue, Beverly, MA $8,250,000 $7,500,000
38 Masconomo Street, Manchester, MA $13,595,000 $11,000,000
34 Paine Avenue, Beverly, MA $22,000,000 $18,275,000

In the Greater Newburyport, top sales included:

Location List Price Sale Price
278 High Street, Newburyport, MA Non-MLS Sale $2,250,000
287 High Street, Newburyport, MA $2,495,000 $2,290,000
41 Moulton Street, Newburyport, MA $2,499,900 $2,375,000
13 67th Street, Newburyport, MA $2,395,000 $2,395,000
4 Hamilton Way, Newburyport, MA $2,500,000 $2,400,000
8 Jefferson Court, Newburyport, MA Non-MLS Sale $2,750,000
448 North End Blvd, Salisbury, MA Non-MLS Sale $3,100,000

Rockingham County, NH saw 5 sales over $5M. 

Location List Price Sale Price
98 Beach Hill Rd, New Castle, NH $6,495,066 $6,495,066
117 Bow St Unit 114, Portsmouth, NH $5,800,000 $5,790,000
5 Heather Dr, Rye, NH $6,250,000 $6,300,000
70 Martine Cottage Rd, Portsmouth, NH $6,950,000 $6,600,000
16 Atlantic Ave, North Hampton, NH $7,000,000 $7,000,000

The end of 2022 saw the record breaking off-market sale of 30 Straws Point in Rye, NH for $25M.

17 Straw Point in Rye, NH is currently listed for $22M and 4 Dancers Image Lane in North Hampton, NH for $17,995M.



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