Peabody Condos

A city of 51,000 residents, Peabody sits in the heart of the North Shore part of the state. Its population, like many parts of Massachusetts, has grown by more than 1000 people in the last decade. The increased number of people has also put an increased demand on the housing market. The need for available housing including condominiums has driven home prices steadily upwards in the last few years.

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Finding a Home to Buy

The price for a one or two-bedroom condo here can start out at $249,900 and go as high as $379,900. The asking prices are directly related to the limited number of homes that come up on the market at any given time. Many listings are only available for one to two months before they attract qualified buyer and are sold quickly.

The prices for condominiums here fetch a number of amenities that make the investment worthwhile, however. Some of the more impressive features that you might find in your home search include deep walk-in closets in the bedrooms, luxurious bathrooms complete with his and her sinks, cathedral ceilings in the main areas of the home, and a washer and dryer pantry or utility closet.

Finding and buying a home in the competitive real estate market here can be a process that takes time and commitment. You can get representation to handle much of the task for you by contacting us today.

Putting Your Home Up for Sale

Given the fast pace and competitiveness of the local real estate market, you might wonder how much you should ask for your condo before you put it up for sale. The asking price will depend a lot on what kind of amenities it has to offer. It also will be based on the unit's size and number of bathrooms it has.

Based on recent listings for condos in the area, two and three-bedroom units are priced at $300,000 starting out and can go as high as $400,000 if they have more than one bathroom and a plethora of extras like modern kitchens and open floor plans. You also may want to disclose how much the HOA fees are and what costs are covered by them. Some of the more recent listings for condominiums in this city have included HOA fees averaging around $400 per month. The price covers expenses like landscaping, snow removal, water and trash services, security, master insurance, and others.

You may expect your listing to be available for 30 days or fewer before it attracts a buyer. You want to vet the most serious offers only. Call us today to retain a representative who can help you price your home and vet the most qualified buyers for it.

City Overview

Peabody has nine different districts that all have different home prices and rents. The neighborhoods are Birch and Russell Streets, West Peabody, South Peabody, Margin Street and North Shore Avenue, Jubilee Drive and 1st Avenue, Lynn Street and Coolidge Avenue, Proctor, Main and Washington Streets, and City Center.

The most expensive of the neighborhoods is Birch and Russell Streets. The home prices here average around $484,000. The price makes the neighborhood more expensive than 84 percent of others in the area. It consists of three, four, and five-bedroom homes as well as apartments and mobile homes.

The Jubilee Drive and 1st Avenue neighborhood is the fifth most expensive area of the city. The home prices here sell for around $406,000. The price of rent averages around $1906 per month, making it higher than 64 percent of other neighborhoods in the state. The vacancy rate for this neighborhood is only 1.5 percent, much lower than the state and national average. Many of the homes were built around 1949 to 1960.

City Center is the least expensive neighborhood in which to live in the area. The home prices average around $306,000 while the average monthly rent goes for $1423, lower than other area rents. The neighborhood is made up of a combination of single family homes, apartments, and townhouses. The vacancy rate is 4.2 percent.

Buying or selling a home in Peabody can be a competitive undertaking. Call us today for professional real estate representation in the local market.

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