Surprise! Local Million-Dollar Home Sales Down In 2008 | Fewer big sales; one huge one
With home prices continuing to fall and the rest of the economy following behind it, even the priciest homes in Central Massachusetts weren’t selling as well in 2008 as they had been the previous year.
Our list of the largest single-family home sales in the region shows that a total of 87 homes sold for $1 million or more in 2008, down from 157 in 2007.
Gentleman Farmer
Still, the largest single sale of the year was a huge one. A five-bedroom, 7,615-square-foot colonial-style home on Farm Road in Sherborn went for $7.5 million in October, apparently sold to a Boston-area technology entrepreneur and angel investor. State real estate records list the buyers of the property as Parvis Tayebati and the Parvis Tayebati 2004 Revocable Trust. According to a November Boston Magazine profile, Boston Internet and green energy entrepreneur Parvis Tayebati has a second home in Sherborn where he raises chickens and goats.
If the sale of high-end homes were a competition among cities and towns, the year’s winner by far would be Sudbury. The Middlesex County town of about 17,000 residents saw 27 million-dollar-plus sales in 2008. Tied for second place were Hopkinton and Wayland with nine sales each.
The fifth-largest home sale of the year, of a four-bedroom colonial on Copperbeech Circle in Westborough, represented the resale of a foreclosed property. Needham Bank foreclosed on the house in March 2007 and resold it for nearly $2 million in September 2008.
Unsurprisingly, almost all of the most expensive sales took place in the eastern part of the region. Of the 87 $1 million-plus homes, 72 were in Middlesex County and just 15 were in Worcester County, all in Westborough, Southborough, Harvard or Sutton.
The largest sale in the city of Worcester was a $790,000, five-bedroom colonial at 3 Pickwick Circle.
The top 10 sales on the list include two houses that might have piqued their new owners’ interest as much because of their history as their location or size.
A four-bedroom “old style” home on Pegan Lane in Natick dating from 1800 sold for $2.8 million, and an 1833 five-bedroom “antique” house on Unity Lane in Sherborn went for $1.7 million.
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