Lexington is a small town in Middlesex County known for its rich history and for being one of the wealthiest small cities in the United States. Located about 11 miles northwest of Boston, the town is a popular location for families and commuters.
There are about 31,000 residents in the town and residents mostly consist of single family homes. The Minuteman Bikeway also passes through Lexington and the historic area where the American Revolution began. The path is popular with residents and visitors.
One of the most prominent landmarks in the town is the Common in Lexington Center. The Revolutionary Monument is also a prominent feature and the nation’s oldest standing war memorial.
Lexington went from having 100 closings in Q2 2019 to 75 in Q2 2020, which is a steep decline relative to the rest of the MetroWest. Nevertheless, there were several noteworthy sales in Q2 2020, which caused a 6% increase in average sales price year over year.
4 Adams Street sold for $3,000,000 and was the only $3M or higher sale this quarter in Lexington. Was originally listed for $3,285,000, a 9.5% discount from list
Lexington had seven home sales under $800,000 this quarter compared to 11 sales in Q2 2019, illustrating the effect of the rising average prices on the affordability for first time homebuyers