Bedford Street's $23.55 Million Sale Skews Lexington's July Price Range Sharply

LEXINGTON -- A $23,550,000 sale of a Bedford Street property to Pulte Homes of New England LLC anchored a month of otherwise typical residential activity, with the South Middlesex Registry of Deeds recording 20 property transfers in Lexington between July 3 and Aug. 1.

MARKET OVERVIEW

Twelve of the 20 recorded transfers included a disclosed sale price; the other eight did not list a consideration amount, which is common for trust and family transfers. Among the 12 disclosed sales, prices ranged from $850,000 for 16 Farmcrest Ave. to $23,550,000 for 475 Bedford St., and the median sale price was $1,515,000. With 20 total transfers recorded over the roughly four-week period, the raw count reflects a level of deed activity consistent with steady turnover, though the dataset does not include days-on-market or inventory figures needed to characterize the pace of sales further.

TOP SALES

The month's largest transaction by far was 475 Bedford St., which sold for $23,550,000 on July 8. Cresset Lexington LLC was the seller and Pulte Homes of New England LLC the buyer. The next-highest sale was 178 Waltham St., which sold for $3,105,000 on July 7; Minasian Investments LLC sold the property to Michelle and Stephen Kohut. The condominium unit at 8 Common Ct., Unit 8, sold for $2,550,000 on July 8, with Fairland Commons LLC as seller and a buyer identified as a revocable trust with Seema Gupta as trustee. At 12 Hancock Ave., Nicholas L. and Cheryl W. Gall sold to Daniel S. and Jillian M. Ward for $2,150,000 on July 6. Rounding out the top five, 383 Marrett Rd. sold for $1,950,000 on July 6, with Choong Wook Seo and Seyoung Lee selling to Vivek and Arusha Malik.

NEIGHBORHOOD BREAKDOWN

Two streets saw more than one recorded sale during the period. Turning Mill Road had two transfers: 57 Turning Mill Rd. sold for $1,580,000 on July 10, and 31 Turning Mill Rd. sold for $1,327,000 on July 13. Massachusetts Avenue also had two transfers: 1900 Massachusetts Ave. sold for $1,150,000 on July 9, while 2648 Massachusetts Ave. changed hands on July 8 with no price disclosed. By price tier among the 12 disclosed sales, two fell under $1 million (16 Farmcrest Ave. at $850,000 and 109 Maple St. at $865,000), six fell between $1 million and $2 million, and four sold above $2 million, including the Bedford Street transaction.

MARKET NOTES

Seven of the eight transfers without a disclosed price were transfers into or out of family trusts or estates, including 26 Hayes Ave., 34 Fair Oaks Dr., 27 Ledgelawn Ave., 2648 Massachusetts Ave., 29 Pine Knoll Rd., 21 Crescent Hill Ave. and 11 Kimball Rd. That pattern is typical of deed data and does not necessarily reflect a change in ownership use. Several buyers in the disclosed-price sales were limited liability companies rather than individuals: Conestoga Road LLC purchased 7 Conestoga Rd. for $1,040,000, Maple Street LLC purchased 109 Maple St. for $865,000, and Pulte Homes of New England LLC purchased 475 Bedford St. One entry showed the same individuals appearing as both a seller and a buyer within the period: Michelle and Stephen Kohut sold 46 Bridge St. for $1,450,000 on July 9 and purchased 178 Waltham St. for $3,105,000 on July 7. The month's sales also included one condominium unit (8 Common Ct., Unit 8); the remaining disclosed-price sales were of individual street addresses, consistent with single-family or similar residential properties, though property type is not specified in the deed data beyond the address format.

Recorded Deeds

Source: Registry of Deeds. Sale amounts shown as recorded; transfers without a disclosed consideration are noted as such.

Jul 6 - Jul 12

Jul 13 - Jul 19

Compiled from official town feeds, community organizations, and local press. Outside reporting is attributed inline.