Melrose Home Sale Prices Range From $575,000 to $2.4 Million

MELROSE -- Twenty property deeds were recorded in Melrose between Sept. 11 and Oct. 10, with prices ranging from $575,000 to $2.4 million and a median of $962,850 among the 10 sales with recorded prices so far.

MARKET OVERVIEW Of the 20 recorded transfers, 10 carried a sale price in the registry data as of this report; the remaining 10 are listed with price not yet available, which is typical since sale prices can take about a week to appear in registry records after a deed is recorded. Among the priced sales, prices ranged from $575,000 to $2.4 million, with a median of $962,850. Twenty recorded transactions in a single month indicate a steady pace of property turnover in Melrose, though a full picture of the month's pricing will not be available until the remaining prices are recorded.

TOP SALES The month's highest-priced sale was 14 Chipman Ave., which sold for $2.4 million on Sept. 17. The seller was Melrose Veterans Building Association Inc. and the buyer was Chipman Development LLC. The second-highest sale was 228 Upham St., which sold for $1.55 million on Sept. 11; sellers James A. and Jennifer G. Richter sold to buyers Jeremy Carter and Erica Maccini. A property listed in registry records only as Melrose, MA, with no street address given, sold for $1,122,000 on Sept. 16; seller Nunziatina T. Sargent sold to buyers Qiu Zheng and Winnie Yao Zheng. Rounding out the top five, 56 Nowell Rd. sold for $988,000 on Sept. 17, with sellers Gordon E. and Susan M. Feener selling to buyers Elissa Na and Seungho Jun, and 86 Vinton St. sold for $973,700 on Sept. 17, with a seller listed as Marie selling to buyer Opendoor Property J LLC.

NEIGHBORHOOD BREAKDOWN No street in this period's data recorded more than one sale, so transactions are grouped here by price tier. Three sales fell under $750,000: 51 Melrose St. Unit 2D at $575,000, 4 Allen Pl. at $699,000, and 16 Sycamore Rd. at $747,500. Four sales fell between $750,000 and $1 million: 2 Glendower Rd. at $845,000, 64 Heywood Ave. at $952,000, 86 Vinton St. at $973,700, and 56 Nowell Rd. at $988,000. Three sales topped $1 million: the unlisted Melrose address at $1,122,000, 228 Upham St. at $1.55 million, and 14 Chipman Ave. at $2.4 million.

MARKET NOTES Bedroom, bathroom and square-footage figures are not available in deed records, so no price-per-square-foot comparisons can be made this period. Most of the priced sales were single-family homes; two of the period's transfers were condominium units, at 180 Green St. Unit 411 and 51 Melrose St. Unit 2D, the latter being the only condo among the 10 priced sales. The top sale, 14 Chipman Ave., stands out as an institutional-to-developer transfer, with the seller listed as Melrose Veterans Building Association Inc. and the buyer as Chipman Development LLC, rather than a sale between individual homeowners. Exactly half of this period's 20 recorded deeds, 10 of 20, list no sale price yet; several of these involve a grantor and grantee with matching or closely related names, consistent with transfers into family trusts or between family members, such as at 248 E. Foster St., 143 Laurel St., 184 Florence St., 40 Poplar St., 24 Orient Ave., 141 Warwick Rd., 81 Oakland St., 24 School St. and 29 Trenton St. These patterns are noted here as recorded; the registry data does not indicate motivation.

Recorded Deeds

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

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