Nineteen Lexington homes sold between Monday, June 29, and Thursday, July 2, for a combined $40.8 million, with every transaction closing above $1.1 million and seven topping $2 million, according to deed records published July 16 by The Lexington Observer.
The priciest sale was 9 Pelham Rd., where Jeffrey Martin and Rachel Ann Gonzalez sold to Josna Adusumilli for $3,819,000 on Tuesday, June 30. Close behind, 1 John Wilson Ln. — a 4,765-square-foot, four-bedroom home — went to Anne S. and Lars H. Fiedler for $3,750,000 on Thursday, July 2, according to Zillow records. Janna C. and David J. Mendonca were the sellers.
A third sale cracked $3 million: 64 Hill St. sold Wednesday, July 1, for $3,125,000 to Matthew T. Fornataro and William R. Dooner.
Four more sales fell in the $2 million–$2.7 million range: 16 Hastings Rd. ($2,705,000), 70 Reed St. ($2,603,000), 37 Woodcliffe Rd. ($2,095,000), and 845 Emerson Gardens Rd. ($2,020,000).
The week's median sale price was $1,700,000, just below the town-wide annual median of roughly $1.85 million that Wendy Manz, chair of the Housing Partnership Board, cited at the Monday, May 11, Select Board meeting. "The median home price in Town is roughly $1.85M and rents are approximately $4,700 per month," Manz told the board, framing the affordability challenge facing Lexington buyers and renters alike.
At the lower end, 35 Brandon St. was the week's most affordable transaction at $1,120,000, sold by Jason and Melissa Prentice to Amber D. Moulton and Hiroatsu Sugimoto on Wednesday, July 1.
One transaction stood out for a different reason: 30 Winchester Dr. sold Thursday, July 2, for $1,456,000 to Winchester Drive LLC, the only limited-liability-company buyer among the 19 otherwise individual purchasers. The nature of the LLC is not identified in public records.
That $1.12 million price floor underscores the affordability gap the town is tracking. The Housing Partnership Board told the Select Board on May 11 that Lexington has 12,252 homes total, with just 723 — 5.9% — deed-restricted as affordable. The board said 502 more affordable units would be needed to reach a 10% threshold, and that housing construction in Lexington Center "is simply not financially viable right now" under current zoning.
In the most recent annual snapshot available, covering the 12 months ending Monday, January 12, the Mazur Team at Compass reported 280 closed single-family sales at a median of $1,865,000, with homes selling at an average of 102% of list price. Homes above $3 million averaged 83 days on market in that period.
The Lexington Observer publishes new deed recordings weekly.
