Andover Multi-Family Homes

When preparing to purchase a home, there are a number of things that buyers should take into consideration - instead of focusing on just the house itself and the price. The surrounding area, potential employment, schooling, and several other aspects all play an important role in deciding where to begin looking for a home and ultimately where to settle down. Sometimes, however, in order to satisfy the wants and needs of a new place to call home, buyers may have to compromise on other aspects - such as size of the home or the price. That may be a possibility if you're hoping to purchase a home in Andover - because while this city has an impressive list of positive factors and offers its residents more than just a few perks, it also comes at a price - higher real estate costs. Not only does the area account for some of the most expensive housing units statewide, but also one of the highest priced real estate markets in the entire country. With the statewide median home value currently at around $370,000, the median home value within this city's limits is nearly double that at approximately $682,584. Of course prices vary, so there's typically a price range from about two hundred thousand to around four hundred thousand; however, this area has a large percentage of homes that have a higher price range than average. In fact, a majority of houses in this town are valued between nearly half a million and 1.1 million dollars, with only 21% of homes in the area priced under $460,000. However, that doesn't mean that there isn't a home in this area for you. If you would like help finding a home that fits into your price range, contact us today and we'd be happy to assist you.

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If you're looking to sell a multi-family house, it's extremely beneficial to have knowledge of the local real estate market beforehand, in order to not only increase your chance of selling but also to maximize the selling price of the home. While single-family homes are the most prevalent type of houses in the area, there is still a great market for all other types of housing units as well. Owner-occupied units account for approximately 76.4% of this area's real estate, with a fairly average vacancy percentage of 4.4% - meaning there's certainly a demand for multi-family homes in Andover. Also worth noting is the fact that the appreciation rates for homes in this city have been consistently above average for the last ten years. All things considered, the fact of the matter is that there's never been a better time than right now to list your home for sale - and we'd be happy to help you in any way possible, just contact us today.

Located in Middlesex County, there are seven main neighborhoods in this town. Lowell Junction is currently the most expensive neighborhood. The real estate in this suburban neighborhood is mostly large single-family homes (four, five, or more bedrooms) and larger apartments complexes/high-rise apartments, and maintains a vacancy rate of only 2% - creating a very high real estate demand. With housing prices nearly identical to the most expensive area, is the By Pass Rd / S Main St neighborhood. This suburban area is made of up primarily large single-family homes and larger apartments/high-rises as well, and has a vacancy rate of 4.1%, which still makes for a high real estate demand. The third neighborhood is known as Haggetts / Massachusetts School of Law. This area has a more expensive real estate market than nearly 92% of neighborhoods in the entire country. Mainly consisting of larger homes and apartments, a majority of housing units here are owner-occupied - and the current vacancy rate is 0% - clearly a very competitive real estate market. Ballardvale and West Parish are both suburban neighborhoods that are made up of mainly larger homes and apartments - most of which are owner occupied. However, the vacancy rates here are 4.7% of 5.1% respectively, offering a fair real estate market. Shawsheen Heights / Shawsheen Village is comparable in every aspect except for its 8.8% vacancies. The last neighborhood is Town Center, which is also the least expensive neighborhood within the whole town. Consisting of mostly smaller houses and apartments, the vacancy rate here is 5% - creating a fair market for homes. Finally, please sign up or contact us today if you're interested in buying or selling a multi-family home in Andover.

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