The real estate market may be struggling but the luxury market is a different story

Some markets still have no trouble getting top dollar.

The real estate market has been slow to recover in most of Massachusetts, with prices low and sales sluggish in many communities.

There is one exception — the luxury market in some posh areas of greater Boston.

Communities such as Weston, Wellesley and Brookline have seen substantial increases in home prices in the past year, according to the RE/MAX of New England Luxury Housing Report. Weston, Brookline, the South End and Beacon Hill have also seen a jump in the number of sales, according to the report.

In Beacon Hill alone, the number of units sold between 2010 and 2011 skyrocketed 87 percent.

“The real estate market is hyper local, no matter where you are talking about,” says Paul Mydelski, broker/owner of RE/MAX Leading Edge. “People are starting to spend money again. Some of the luxury markets, like Wellesley, Brookline and Newton, are appealing areas. People want to be there and it is not unusual to see sales well over a million dollars.”

According to the report, the average sale price in Brookline jumped 26 percent between 2010 and 2011. And Brookline’s prices are continuing to increase, says Mydelski, who owns real estate branches in Winchester, Arlington, Newton, Waltham and Watertown. “People have recovered money they lost. They are starting to make money, and employers are hiring,” says Mydelski.

Average home prices in 2011
   
Brookline $1.8 million
South End $1.5 million
Wellesley $1.9 million
Weston $2 million
(Source: RE/MAX of New England)



News
Entertainment
Sports
Lifestyle
Local

MAP: New York City Street Closures August 22,…

The Percy Sutton Harlem 5K and NYC Family Health Walk-a-thon and Pakistan Day Parade and Fair will cause traffic delays and street closures in New York City this weekend. Plan…

International

U.N. nuclear inquiry on Iran seen making slow…

The U.N. nuclear watchdog appears to have made only limited progress so far in getting Iran to answer questions about its suspected atomic bomb research, diplomatic sources said on Friday,…

National

Violence-weary Missouri town sees second night of calm

By Nick Carey and Carey GillamFERGUSON Mo. (Reuters) - The violence-weary town of Ferguson, Missouri, saw a second straight evening of relative calm on Thursday…

National

Journalist James Foley's parents, after call with pope,…

The parents of James Foley, the American journalist killed by Islamic State militants in Iraq, on Friday called for prayer and support to free the remaining captives held by Islamic…

Television

Recap: 'The Knick,' Season 1, Episode 3, 'The…

The third episode of Steven Soderbergh's "The Knick" finds Dr. Thackery (Clive Owen) meeting an old flame and other characters embracing self-destruction.

Music

Webcast: Watch Polyphonic Spree live on Sunday Aug.…

Polyphonic Spree singer Tim DeLaughter sits with Metro Music Editor Pat Healy for a chat and then the big band performs live. It begins on Sunday at 9:30 pm

Movies

Matthew Weiner on directing 'Are You Here' and…

"Mad Men" creator Matthew Weiner discusses his movie "Are You Here," his history writing comedy and the tiny movie he directed in 1996 you can't see.

Movies

Michael Chiklis on his football past and 'When…

Michael Chiklis remembers playing football in high school and how that prepped him to play a coach in "When the Game Stands Tall."

NFL

3 things we learned about the Giants in…

The Giants claimed the Snoopy trophy in a battle of MetLife Stadium tenants Friday night. But more importantly, the offense finally showed some life in…

NFL

3 things we learned about the Jets in…

The Jets lost the Snoopy Bowl, 35-24, to the Giants, losing the trophy and local bragging rights.

NFL

Fantasy football draft guide: How to draft your…

Many are wondering if we’re entering a new age in fantasy football drafting — one where running backs take a backseat.

NFL

Jets vs. Giants: 3 Giants storylines to watch

The Giants have plenty to work on as they reach the dress rehearsal preseason game Friday night against the rival Jets.

Wellbeing

Asics is giving away free gear around NYC…

Asics wants to see you on the court - and in the stands for the U.S. Open, which begins Monday - by giving away free…

Sex

Big weddings may lead to long-term happiness

Dreaming of a big wedding? A new study indicates that the longer your guest list, the happier you’ll be in the long run. l A…

Sex

Online dating for every generation

Frank Jackson and his mother Maggie are like lots of modern families: They have dinner together regularly, keep each other updated on their lives —…

Wellbeing

Going green could be the key to getting…

If we could just pursue the things that would actually make us happy, we could help the environment too, according to a New York researcher.…