Some of the ritziest towns in Massachusetts have seen the worst home sales in over two decades.

Only 42 single-family homes were sold in Weston, where the median home price has exceeded $1 million since 2003, in the first half of 2009. The last time sales transactions were so slow for the first two quarters was in 1987, according to The Warren Group.

The other exclusive town beginning with a W – Wellesley – had 95 home sales from January through June. That was the weakest sales pace for the six-month period since The Warren Group started tracking sales in 1987.

Brookline, home to Patriots owner Bob Kraft and other VIPs, experienced a similar trend.

The town where Red Sox owner John Henry wants to build his multimillion dollar estate had only 39 home sales. That’s a huge difference from just five years earlier when 103 homes traded in Brookline during those same months.

And let’s not forget Lincoln, where strict zoning and land-use rules, have helped drive up home prices. The town had 14 home sales in the first six months of 2009. The only year fewer sales were recorded for that period was in 1988.

Real estate agents say it’s a good time to buy, but apparently that message hasn’t gotten buyers to purchase in these desirable towns.

Sluggish Home Sales Even in Elite Towns

by Colleen M. Sullivan time to read: 1 min
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