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.
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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.