2015 was a banner year for luxury real estate in Boston

Luxury home sales in the city of Boston rose 13.5 percent from 2014 to 2015, according to a new report from Coldwell Banker New England.

The report, which tracked sales of condos and single-family home priced $2 million and above, recorded 244 luxury sales in 2015. Interestingly, the luxury market performed much better than the overall Boston market, which saw sales rise just 0.5 percent, according to the Greater Boston Association of Realtors.

Luxury Real Estate in Boston

In 2015’s fourth quarter, Boston’s luxury market recorded even stronger sales. With 56 transactions in the three months ending the year, Boston’s luxury sales were up 27 percent from the same time period in 2014.

Merit McIntyre, the president of Coldwell Banker Residential Brokerage in New England, credited international buyers and Boston’s strong economy for the city’s luxury market.

“Luxury property sales in Boston posted a solid increase in 2015. Interest from international buyers and stronger employment numbers helped contribute to the rise in sales,” McIntyre said. “The marketing time for luxury properties that were listed for sale also remained steady, indicating that buyer demand is at a healthy level.”

The market time stats McIntyre cites were the most intriguing part of the report – although sales were up strongly, luxury homes did not sell much faster in 2015 than the year before. At 85 days, the average luxury condo timeline was down just three days, while single-family market time fell a single day to 90.