Gibson Sothebys
International Realty today announced that they will be opening
their first office in the city of Cambridge, Massachusetts come the
beginning of 2015. This transition into yet another key luxury
market for the firm seemed as an advantageous opportunity that they
truly had to meet with aplomb.
Larry Rideout, the Chief Executive Officer of the firm shared
that, It really came down to it being a seamless transition for our
Boston-based company that we couldnt pass up. The Cambridge market
has realized immense growth over the past few years and the need
for a luxury brand with the international power and local expertise
like Sothebys International Realty here is a perfect fit.
With now over 170 independent sales associates, Gibson Sothebys
International Realty is coming off of their most successful year
ever in 2013, having sold over $1 Billion worth of real estate.
Specializing in the fine homes in the Greater Boston region, the
independently owned and operated business also has thrived in the
Cambridge market recently. In fact, Gibson Sothebys International
Realty listed and sold the significant 93 Winthrop Street #7 in
Harvard Square. Over the past eighteen months, this extraordinary
residence remains as the most expensive property sold in all of
Cambridge, having been listed for $4,250,000 and closing for
$3,974,000; or $1,831/square foot.
Going forward, as Mr. Rideout explains, the firm has set a
realistic grand opening date for the beginning of 2015, We are so
fortunate to be backed by our own in-house marketing team of five
dedicated professionals, a Relocation Department, a Rental
Department, and more who are all steadfastly working with myself
and my partner, COO Paul McGann, on getting this endeavor
accomplished in a timely and professional manner. It is this
exceptional level of support both for their agents and clients that
set his company apart from the competition, as Rideout continued by
stating, As one would expect from the Sothebys brand, we are
excited to embark on this new challenge and bring our
world-renowned white-glove service to Cambridge. As the number one
independently owned Boston-based firm for total sales volume in
2014, we are confident that our spectacular marketing and referral
opportunities will expose the luxury Cambridge market to a global
buying populace like never before.
Over the past year, according to the Multiple Listing Service
(MLS), Cambridge has seen 86 closed single-family homes averaging
sales prices of $1,413,632 with an average days on the market of
31.03. The previous year resulted in just 66 sales with an average
sales price of $1,375,714 and an average days on the market of
53.02. This displayed a 2.75% increase in sales prices and 41.47%
decrease in the average days on the market for single-family homes,
respectively.
Looking to condominiums, a total of 374 closings have occurred
with average sales prices of $668,190, with an average days on the
market of 36.27 over the past twelve months. With a decrease in the
available inventory this year, the previous year actually realized
more sales of condominiums with 395, however with a lower average
sales price of just $566,935 and higher average days on the market
of 49.06. This translated to a 17.86% increase in sales prices and
26.07% decrease in the average days on the market for condominiums,
respectively.
By extending their Downtown Boston roots, this new Cambridge
venture will operate out of 1008 Massachusetts Avenue,
appropriately and strategically positioned between Central and
Harvard Squares and next to Cambridge College. The superb
accessibility and visibility from the street-level office location
will make it easy for clients to meet the Gibson Sothebys
International Realty team and inquire about all of the luxury sales
and rental opportunities available to them throughout the entirety
of Cambridge and beyond. Coming in early 2015, a new luxury
experience in real estate, stay tuned.
For more information to get updates text “Gibson” to 77948.