Groveland, MA Real Estate

When it comes to finding real estate for sale or for rent in Groveland, MA, it pays to arm yourself with as much reliable information as possible. While the local residential property market in this area isn’t nearly as cutthroat as Boston’s, for example, it poses its own unique complications and concerns. In particular, due to its small size, the town doesn’t have a very large inventory of homes. Depending on what you need, finding something suitable can be a tall order. Lay the groundwork for a successful search by signing up with Boston City Properties.

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Boston City Properties maintains one of the largest and most comprehensive online databases of searchable Massachusetts property listings around. Data is pulled continually throughout the day and night from reputable sources, including the MLS PIN, so you can rest assured of accuracy and timeliness whenever you search. We don’t charge a dime for access to the listings; just complete and submit the easy form, and you’ll be good to go. Thanks to our powerful search tool, zeroing in on properties that suit your lifestyle, budget and other needs couldn’t be easier.

Upon gaining access to our listings, navigate over to the search feature to begin. You may select just this town from the list of locations, or you may select multiple communities to perform a broader search. In addition, you may adjust filters for things like total square footage and price range to fine-tune your results even more. With just a few clicks of the mouse button, you will have a list of properties in your desired search area that meet your basic requirements. In one fell swoop, then, a significant part of your search for property to rent or buy in this town will be over.

Town Overview

Odds are that if you are specifically looking to buy or rent a place in this town, you already know the basics about the local area. Still, it never hurts to brush up on a local community and its property market before searching for what you need in earnest. Situated roughly 24 miles north of Boston, this Essex County town had a population of around 6,500 people at the time of the 2010 U.S. Census. Covered by the 01834 zip code, this small town has an equally small—and fairly quiet—property market.

This bustling little town is bordered by numerous communities, including Georgetown, West Newburg, Haverhill and Boxford. Despite its compact size, it is split into two main districts: the main town and the south end of town. Even after establishing that you can afford to own or rent a home in this town, make sure that you are comfortable with the overall cost of living for the area. On the cost-of-living index, a score of 100 denotes the average COL for the country as a whole. The average COL for MA, meanwhile, is 137.7. The COL for this town is higher still at 144.1, which strongly implies that goods and services in the area may be pricier than what you’re used to.

Market Overview

Falling in love with a town and wanting to own or rent a home there is one thing; being able to navigate the local residential property market is often another. At Boston City Properties, we firmly believe that informed buyers and renters are successful buyers and renters, so we provide resources on our website that allow you to perform your own research and come to your own conclusions. As you will see, the local property market here is pretty small and subdued, so it’s especially important to arm yourself with as many reliable resources as possible.

Given the very small size and population of this town, it stands to reason that there are a limited number of residential properties in general. Property records confirm this and show that lately there are around 3,000 residential properties within this town’s borders. This figure is largely in line with the population of the town, but it also serves as a reminder for just how tricky it can be to find specific property types in the local area.

Speaking of property types, this Essex County town offers a surprising amount of diversity in that regard. Unlike so many communities around the state, in fact, single-family homes do not dominate the market. In fact, only 41 percent of residential properties here are classified as such. If you need to rent a place, you’ll be glad to know that 49 percent of residential properties are categorized as apartments. Finally, with 12 percent of properties classified as townhomes and condos, this town has a surprising amount to offer to those who are looking to buy or rent such properties.

When assessing a local market, it’s always smart to keep an eye on the average price of local residential properties. It’s far better to figure out early on that you’re priced out of a market than to do so after getting too committed to the idea of living there. While homes in the area aren’t exorbitantly expensive, they also tend to cost well more than what is average across the state. Expect the majority of single-family homes in this town to fall into the $375,000-to-$500,000 range.

Single-Family Homes

Although single-family homes in this town are outnumbered by apartments, they are still the most reliable litmus test to refer to when assessing a local property market. Whether you are looking to buy a detached home or are more in the market for something like a townhouse or condo, you can gain a clearer picture of what to expect by assessing how single-family homes are faring locally. As you will see, homes in the area span many characteristics, but they also tend to be older. More importantly, there are so few of them that you’re unlikely to find many up for sale at any given time.

One obvious metric to examine when assessing a local property market is prevailing prices for single-family homes. Things change quickly and often, but homes in the local area have been listing on the market for around $375,000 lately; across the state, the median list price is closer to $419,000. Locally, homes in this community have been closing for around $390,000, which suggests that bidding wars may be happening. Across MA, by comparison, the median closing price has been closer to $356,000. Finally, the median price per square foot for Massachusetts is $242 while the median price per square foot in this market is $223.

If you have your heart set on buying a fairly new, modern home, you may have an even harder time shopping the local market. That’s because the vast majority of homes in this town are many decades old. Indeed, 60 percent of residential properties in this town were built in 1939 or earlier. New housing construction has been minimal since the year 2000, so the odds of finding something newer are slim. However, homes here are wonderfully roomy, offering an average of 2,400 square feet of space.

You can quickly check to see how many homes are currently on the market in this town by searching Boston City Properties’ listings. Don’t be dismayed if you only see a handful pop up in the results. Lately, an average of 15 homes has been listed for sale on the local market at any given time. Perhaps more tellingly, homes have been sitting on the market here for around 70 days on average, which is a bit excessive. It’s good news for buyers like you, however, because it means that you may be able to negotiate your way to a better price due to anxious sellers.

If you buy a home in this town soon, can you rely on your property growing in value over time? This is important to determine regardless of your long-term plans, but it’s especially important if you’re buying a place for investment purposes or if you only plan to remain there for a handful of years. Around 7 percent of residential properties in this town are vacant, which is a bit troubling. However, only 3.9 percent of properties have negative equity, which is much better than the nationwide average of 10.7 percent. Incredibly, properties appreciated by a rate of 12.3 percent over the last year. They will continue to appreciate over the next 12 months but at a lower rate of around 5 percent.

As much as you may desire to live in this town, it may be that the available offerings simply don’t suit your needs or budget. Boston City Properties can refer you to a local real estate agent in Groveland who can help you to identify options in nearby communities. Prices and options vary widely from one area to the next. For example, homes in nearby Plaistow have been selling for around $249,000 while homes in neighboring Boxford have been selling for closer to $600,000.

Condos and Townhouses

It’s normally pretty difficult to find condos or townhouses in communities outside of metro Boston. However, this Essex County town has a surprisingly diverse market, so there are quite a few options in this department. With 12 percent of residential properties here classified as townhomes and condos, there are approximately 350 such units within its borders. Of course, most of these will be spoken for when you search our listings.

Just as single-family homes in the area offer generous amounts of space, condos and townhouses here do too. Most units like these offer at least 1,500 square feet of space, which is downright roomy when compared with what you’ll find in more densely populated areas. While condos and townhouses in the town are spacious, they don’t tend to be loaded with the exciting features that are so ubiquitous in more competitive property markets. They are typically located in older developments; in some cases, they’re even found in converted former homes.

If you are leaning toward buying a condo or townhome for economic reasons, you should be able to save a little in the local market. While single-family homes have been selling for around $495,000 lately, townhouses and condos have been selling for closer to $381,000. Remember, however, that monthly association dues often apply for such properties. They can make what seemed like an affordable place anything but, so always read the fine print while perusing listings.

Finding a condo or townhome to buy or rent in this bustling town is easy with Boston City Properties. After signing up using the easy signup form, you can immediately click over to the search tool to begin. Use it to search for townhouses and condos just as you would single-family homes. First, select this town from the list of locations; choose more than one community if you’d like. Next, adjust filters for attributes like total beds and baths and price to refine your results even more. Before you know it, you will have a list of condos and townhomes in the area to explore.

Apartments

Interestingly enough, there are more apartments than any other type of residential property in this town. Therefore, if you need to rent an apartment here, you should be able to choose from a nice assortment of options. With 49 percent of properties here classified as apartments, there should be around 1,500 units within its borders. Boston City Properties can just as easily help you to find a suitable apartment or other property to rent as anything else.

Keep the following factors in mind when searching for apartments for rent in this town:

• Affordability – Before doing anything else, establish whether or not you can afford prevailing local rental rates. Given how much more affordable rent tends to be here than in many areas around the state, you should be pleased with what you find. While the median rent across the Bay State has hovered around $2,500 per month for some time, the median monthly rent in this town is closer to $1,650. Naturally, you will pay more or less than that depending on things like location, size, features and other attributes.
• Rental Market Size – If you are looking to rent an apartment here, you should be able to choose from a decent array of options. If you need to rent something else, however, the pickings are certain to be slimmer. In this town, 60 percent of residential properties are owned while 40 percent are rented. Apartments dominate the rental market, but single-family homes, townhouses and condos occasionally go up for rent as well. If you need to rent something other than an apartment, make sure to get a referral to an experienced local agent from the team at Boston City Properties.
• Options and Features – With apartments being so ubiquitous in this vibrant little town, it shouldn’t be too difficult to find one that meets your basic requirements. Beyond things like layout, size and the like, however, what can you expect in terms of amenities and features? Apartment developments here don’t have to compete as much as in other markets, so the offerings tend to be simpler. The agent to whom we refer you will know the local apartment developments well, and they can direct you toward ones that are most likely to have what you need.

You don’t have to click away to check current availability for apartments for rent in this town. Our search tool can also be used to search for apartments in communities around the state. When you begin, select this town from the list to limit your search to the area. As with searching for other property types, adjust filters for things like price and total square footage to refine your results more. The list of results will be limited to apartments in the area that suit your basic requirements, so a lot of the work will be done in just a few brief minutes.

How Boston City Properties Can Help

Whether you want to rent an apartment or other property type or are looking to buy a place in this lovely Essex County town, Boston City Properties has you covered. Before doing anything else, sign up for instant, free, unlimited access to our continually updated database of searchable MA property listings. You will have a list of promising options to explore in no time, and you will be that much closer to finding your new home.

Finding suitable real estate for sale or for rent in Groveland, MA, doesn’t have to be an uphill battle. The most important thing is having reliable access to dependable, up-to-the-second information. You can get that in an instant by signing up with Boston City Properties. When you are ready to head out and look at properties on your list, contact us for a referral to a local agent whose insider knowledge is sure to make a huge difference for you. For more info, please call Boston City Properties.

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