Newburyport, MA Real Estate

Single Family Home Market

Located along the banks of the Merrimack River and crossed by several bustling thoroughfares, this town has numerous scenic neighborhoods and a correspondingly vibrant single family home market. The average purchase price per square foot for a home here ranges from $300 to $400. While three bedroom homes are common in this area, typical houses range from two bedrooms, two bathrooms to six bedrooms and eight bathrooms. Listings for homes in this town rarely last beyond two to three weeks before they find a buyer.

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Many of the homes in the area were built in the mid-20th century, although some date back to the mid-18th century. These earlier homes tend to feature refurbished clapboard on the exterior and meticulously renovated interiors that are careful to preserve a few period details. These older homes often retain their large fireplaces and hearths, which feature movable screens and brick plinths, and often are located in several different rooms, such as the living area and the kitchen. Many of the hardwood floors in these homes have wide, vintage planks from old growth forests which have been artfully varnished and restored. The remodeled kitchens are usually host to a series of brand new, stainless steel appliances, from the refrigerator to the dishwasher to the oven. The bathrooms tend to be open and airy, and feature either large stand-alone tubs or elegant, glass-enclosed showers. The grounds of these properties are likewise ample in size, yet intimate in scope. Brick pathways wind their way through the backyard, while wooden gazebos provide a sheltered place to rest and take in the view.

The newer homes, some of which were built in the last two or three years to meet the increasing demand for more housing in the region, place a greater emphasis on open space and larger common areas. Typically, these houses have an enormous kitchen with a seperate island. This island is usually designed with enough counter space so that a row of guests may sit on high stools or chairs, and in many cases, has additional storage. The kitchen itself is typically a study in elegant wooden cabinetry, brand new appliances, and ample amounts of marble or granite countertop space. The hardwood flooring here is a mix of darker and lighter woods with a smooth, gleaming finish. Double or triple-pane windows line the exterior walls, flooding the interiors with natural light and retaining the heat in the winter and the cooler air in the summer. The floor plans here tend to do away with walls between the kitchen, living, and dining spaces, instead forming a kind of great room that spans from one end of the house to the other. The bedrooms are either located upstairs, or sequestered together on the perimeter of the home. The bathrooms are full and bright. Many of the newer homes have a detached garage or outbuilding on a half an acre or larger lot.

Homes purchased in this town tend to appreciate quickly, with some homes doubling their value in the span of only nine years. The variety of nearby urban amenities, combined with the town’s proximity to the waterfront, makes this a very desirable locale for savvy buyers.

Condo/Townhouse Market

In this city, the average purchase price for a condo or townhouse ranges from $400 to $600 per square foot. Some of the oldest condos and townhouses on the market in this area were built in the mid to late 19th century, and correspondingly offer excellent proximity to the city’s many restaurants and shops, as well as charming physical eccentricities from the original construction. These older townhouses usually boast a brick exterior, and typically have an assortment of elaborately furnished, separate rooms. The dining room, for example, is traditionally separated from the kitchen, which is again accessed through a doorway from the living room and foyer. Unlike a single family home, the majority of condos and townhomes are located over multiple floors. Some of these span as many as three separate floors, with multiple kitchens located on different floors. This reflects the period of their construction; in some cases, quarters that were demarcated for servants retain another set of amenities, such as a chef’s kitchen.

The average price for a condo or townhouse in this city ranges from $300 to $500 a square foot. The range is a reflection not only of the interior finishes and upgrades, but also the year and specific location of the property. Relatively newer condos, such as those built in the last twenty years, are generally more affordable than their older counterparts. The newer condos, much like the newer single family homes in this area, tend to have layouts that favor more open space with fewer walls partitioning individual rooms. In some cases, loft spaces have been converted into bedrooms, creating a direct link between the common areas and the resting areas. However, many newer condos feature private bedrooms, usually arranged in a cluster on a different floor accessed via a staircase. The fixtures within the bathroom are typically brand new. For condos, a shower with a bathtub is common, although some units are equipped with showers only.

Condos here typically feature an outdoor deck or balcony. There are two reasons for this. The first, obviously, is to provide a semi-private outdoor space that can be easily accessed at all times of the year. The second reason is to provide another opportunity for a large window in the form of sliding glass doors that welcome natural light. Some of these properties introduce skylights in an attempt to naturally brighten the interiors. Some of the more inventive condos experiment with creating a central atrium space around which the rooms are arranged. This arrangement typically creates a mezzanine-like hallway outside the bedrooms on the upper floor that overlooks the central living space, allowing a central light well to animate the space.

Many of the newer condos favor white walls, but some experiment with bolder color schemes, choosing to paint a study or guest bedroom in a deep blue or lavender, for example. The finishes within the kitchen are usually white with wooden cabinets, although in some units an elaborate assortment of woods, from mahogany to oak to pine, distinguishes the kitchen. Those units with views of the water tend to have a higher selling price than those that do not.

Apartment Market

From exquisitely remodeled apartments built near the turn of the 19th century to brand new luxury developments, the apartment market in this city offers virtually every imaginable configuration. Apartments placed on the market for sale can linger for several months, although straightforward rentals tend to find tenants far more quickly. The average purchase for an apartment in this town ranges from $230 to $300, while the average rent per square foot per month is $2.00. One and two bedroom apartments are common, although larger, roomier apartments do exist. Many of these four to five bedroom apartments exist farther away from the city center, and often border large backyards or private pools and gardens. These larger apartments feature enormous shared living spaces that usually take full advantage of views of the waterfront or surrounding properties. Brick fireplaces within bedrooms are common, while artfully exposed brick and beam interiors reveal the layers of history hidden beneath the fresh plaster and recessed lighting.

The relatively long continuous inhabitation of the city has created a number of apartments and apartment buildings located in the center of downtown that are several hundred years old. These buildings often feature the original brick interiors, with vintage wooden beams. Some of the units have added carpet to the interiors to soften the presence of the brick and wood, while others have chosen to plaster over most of the original brick, exposing it only occasionally. With a few notable exceptions, the kitchens and bathrooms are completely remodeled, and are equipped with the latest appliances, fixtures, and new countertops. The mixture of the vintage and the brand new creates a pleasing aesthetic effect for tenants and owners. Perhaps most importantly, most of these older apartments are located within only a few minutes’ walk of a variety of restaurants, shops, and other businesses, making them highly desirable.

The waterfront apartments offer many of the same amenities as the properties that are further inland. Again, many of these apartments date back to the 1850s, but have been fully renovated since their original construction. Unlike newer apartments that favor flat ceilings, many of these older apartments with river and sea views have vaulted ceilings that simultaneously create a feeling of space mixed with a comforting intimacy. The bedrooms are cozy, as are the larger living spaces, many of which are situated near large windows that illuminate the interiors with natural light. Several of the apartment buildings near the waterfront have roomy exterior porches that encourage tenants to sit outside and enjoy the environment.

The newer apartments generally make the most of their site with tall banks of windows that create a welcoming, bright foyer space. Hardwood floors in the common areas alternate with carpeting in the bedrooms and hallways. The newer apartments tend to emphasize craft and detail; an elegant, horizontal coat rack greets visitors when they first enter the apartment, while pristine lighting fixtures provide illumination in the professionally outfitted kitchen. The relatively open floor plan on the lower floor offers tenants numerous possibilities for custom configuration.

Notable City Features

In November 2017, the city council of Newburyport voted to decrease the tax rate for 2018 for single-family home owners by nine cents, which works out to an estimated savings of $50.43 per year per home owner. This motion is indicative of the city’s positive attitude toward maintaining the thriving single family home market. Listings in this area rarely linger longer than a few weeks, and for good reason: many of the homes have been occupied for hundreds of years. A culture of meticulous maintenance and state-of-the-art renovation goes hand in hand to create a housing stock that is among the most desirable along Massachusetts’ coastline.

In order to keep this profitable lineage intact, the city also recently voted to preserve the Samuel Morse “1690 House” as well as the Towle Manufacturing building. The city has been careful to welcome new developments while also retaining many of the attributes and period details that tend to add value to properties. The recent preservation votes are concerned with maintaining the appearance of the exterior of the two buildings, but allows developers to occupy the interiors without undue restrictions.

In accordance with its focus on maintaining an excellent community standard, the city has also voted to repair the roof of the local high school and begin reconstructing the local roadway. Residents here can be assured that their properties will always remain easily accessible, and that community buildings will retain an exquisite appearance.

The value of properties in the city continues to grow due to other factors as well. The dense cluster of commercial and residential buildings along State Street creates a vibrant atmosphere both day and night, while the city’s geographical location along the Merrimack River leading out to the Atlantic Ocean has granted it a spectacular series of views from virtually anywhere within its 8.4 square miles of land. This land, which is accessible not only via several major roads but also the Plum Island Airport, is threaded throughout with public parks and beaches. Only 37 miles away from Boston, this city is essentially an ideal concentration of desirable amenities that is also located relatively close to a major metropolis. The careful but progressive civic development ensures that any property owners, whether they are interested in purchasing a home, a condo, a townhouse, or an apartment, will have the pleasure of watching their property significantly appreciate.

Newburyport Condo Developments

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