B
oston's luxury real estate market defied expectations in 2024, with high-end sales reaching unprecedented heights despite a limited supply of housing and elevated interest rates. According to Ruth Kennedy Sudduth, vice chair at LandVest, the city's luxury market experienced an unexpected surge, with prices remaining relatively stable despite declining volumes.

    Nicholas Mattia, listing agent for 279 Marlborough St., which sold for $16.5 million last year, attributed this phenomenon to inventory constraints. "There was less of a gap between listing prices and what buyers paid in 2024 than there was in 2023," he said, particularly in the existing market.

    Boston's luxury market is driven by tech and financial sector professionals, as well as international buyers who purchase homes for their children attending local universities. Sudduth noted that these buyers are attracted to Boston due to its academic reputation and cultural offerings.

    Some notable ultra-high-end properties sold in Boston last year include:

    * 279 Marlborough St., a single-family property in the Back Bay, which sold for $16.5 million.

    * 25 Beacon St., Unit 3, a condo located at one of Boston's most prestigious addresses, which sold for nearly $11 million.

    * 240 Devonshire St., Unit PH1A, a penthouse property at the Millennium Residences at Winthrop Center, which sold for $11.575 million.

    These properties showcase the city's luxury real estate offerings, with features such as panoramic views, high-end finishes, and exclusive amenities.