The Home That Has Been on MLS the Longest
David Bates / June 17, 2011-11:39 am
In the last 12 months, more than 7,500 single-family homes in the Greater Boston market found buyers within 30
days of being on market. Of course, some sellers are not as fortunate to find the right buyer so quickly. On March 28, 2005, 86 Belmont in Lowell came to market, described in the listing remarks as “the majestic Frederick Faulkner castle.” More than 9,724 square feet, this home has views of the Merrimac River and originally was listed at $2.2 million. As its list price descended to $975,000, at least two buyers thought this castle would be their home, but the deals apparently fell apart. Today, more than 2,100 days after being described as “new to market,” this unusual property is still looking for the “right” buyer.
Almost a full year before 86 Belmont became active on the market, 3 Ulian Drive was put on the market in Rutland, Mass., a town about an hour and a quarter west of Boston. 3 Ulian Drive is a 2,000-square-foot home that sits on nearly 25 acres of land, including some lakefront. The remarks section of the listing informs prospective buyers, “DRASTIC PRICE REDUCTION REFLECTS OWNERS DESIRE TO SELL!! HIGHLY MOTIVATED!!! BRING OFFERS!!!!”This apparently refers to June 4, 2008, a day that may live on — not quite in infamy — in this property’s market history as its only price reduction: $3.5 million to $2 million. While Ulian Drive continues the wait for the right $2 million buyer, MLS has logged 758 single family sales in excess of $2 million.
Listed about 150 days before Ulian Drive is the reigning champ of “Days on Market” for all single families in MLS: 95 Fox Run, Bolton. This 6,500-square-foot home was touted as “new” when it first came on the multiple listing service on December 5, 2003. While buyers can raise a skeptical eyebrow when homes they like have not sold in 60 days, 95 Fox Run has been marketed continuously for more than 7 ½ years. Another way to summarize the incredible amount of time that this home has been marketed may be to ask, “what were the odds that every major sports team in Boston would win a championship before this home was taken off the market?” Originally listed at $2.4 million, the current ask is $1.595 million. What are the odds it will sell? Well, if it finds the right buyer, then it has a shot, right? Perhaps in this instance, the “right buyer” might be loosely defined as one who doesn’t know three comparable homes are available on the same street for $850K-$950K.