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Milton is in the Money

The thing about affluent cities like Boston is that their high-endproperties always sell quickly, leaving a nice pool of lower-pricedhomes up for grabs.

The thing about affluent cities like Boston is that their high-end properties always sell quickly, leaving a nice pool of lower-priced homes up for grabs. Take the Residences at Brook Hill in Milton’s Lower Mills. This small, tasteful 18-unit development is about 85 percent sold since hitting the market this spring. But the homes that were snapped up were the higher-priced ones.

“I’m surprised,” says listing agent Peter Kelly of Kelley and Rege Properties. “Not that they sold —there’s a market for quality developments like this. But we were surprised that the more expensive ones went first and so quickly. It was the ones priced from $525,000 to $599,000 that sold within the first month.”

Brook Hill, whose fanciful name is substantiated by the fact that it’s not too far from Pine Hill Brook, also has three commercial spaces, one of which is a spa, adding a nice on-site amenity for residents. Apartments, which have varied floor plans, range from $379,000 to $599,000. But all are two-bedrooms and two-bathrooms, so even lower-priced ones aren’t studio shoeboxes.

Buyers came from all over, Kelly says, from Boston to the Cape, especially after Money magazine’s 2011 survey put Milton as the second-best place to live in the country.

“Any address in Milton is always desirable. Values in Milton have maintained better than anywhere,”?he says. “But what really helped was being voted the second-best place to live. We saw a big surge in buyers after that. When it comes to that old tale of location, this is it. Milton is hot.”

 
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