Peabody, Massachusetts Real Estate Information

Peabody, a city located in Essex County in Massachusetts, has many real estate properties to offer for people who are searching for a permanent home or an investment. Situated in the North Shore region of the state, it is a promising area for those looking to find single and multi-family houses, including condos and apartments as well as lots and land. The prices are quite attractive, especially for luxury homes in the city center.

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One of the reasons why the city is an excellent choice for living, especially for young professionals is that it is ideally located just 18 miles north of the capital city of the state, Boston. With almost 17 square miles of land, it is enough to say that the area offers plenty of choices for the home hunters.

The area has several streams, which is why many of the apartments and other properties were primarily built as water-powered mills. Today, most of them have been converted into condominiums and multifamily structures. Several of these properties were constructed as a leather factory, which is what the city is known for. In fact, it is sometimes called Leather City because it was considered the top leather producer in the world.

The city is surrounded by at least 20 schools from preschools to high schools, which is why single-family homes are a huge hit here. Most of the properties attract families with young students, along with those who go to educational institutions from specific areas, including Lynnfield, Middleton, Beverly, Danvers, Salem, and other nearby towns.

Aside from the convenient location, several activities are provided to tourists and residents alike, which make the city a beautiful place to live in. From shopping to playing golf to taking a walk at parks, there are plenty of reasons why this area is one of the most sought-after cities in Massachusetts.

Single Family Homes in the Area

When it comes to single-family homes, the city has both for sale and for rent. When 2018 opened, the new year brought in at least 80 single family homes for sale scattered all over the place. The various choices provided a chance for people who want to live in the area. At the same time, they were able to select from the options available so that they would reside in a home that truly suits their taste and other requirements.

This year, the average listing price in the city is $449,893 for single-family houses. The most expensive one asked for $699,900. Some of the best choices are situated in the top neighborhoods in the city, namely West and South Peabody.

With more than 80 homes for sale, the potential residents did have some choices where they would settle. Most of the houses have at least two beds and one full bath, but there are also many with three to four beds. Huge homes are also available for sale with at least seven bedrooms and five bathrooms. A few of the best places to look for new houses in the city are Paul Avenue, Piedmont Road, Foster Street, and Winona Street.

Many of these homes provide easy access to Boston through intersections of Route 1, 128, and I-95. People who have been in the city for years have noted that it has evolved into a diverse community that offers vibrant activities and places to visit. It is even considered to be a fantastic area for raising a family and a great place to live for those who work in the region.

For years, the city has been the employment center for the county it belongs to. It has risen to become one of the top leather producers in the world and now has more than 100 tanneries. It is for this reason that most of the people who live here work in factories. Plus, since the area has the amenities that the citizens need to thrive, it is no wonder that the single-family homes in the area are usually occupied.

For those searching for a home in this city, it is essential to know about some numbers, particularly when it comes to single-family structures. These homes have a median sales price of $391K and $269 per square foot. These numbers are essential in determining whether or not a person can afford to purchase a house in this area.

Meanwhile, for those who would like to rent a property, there are choices of single family homes that allow rentals. It is significant that the lessee understands the rules and regulations that the lessor has put up before signing the lease agreement. The median rent per month in this area is $2,100, which is quite affordable, especially when compared to the home rental prices of the towns nearby.

Condos for Sale in the City

For those looking to live in a condo or a townhouse in the city, the good news is that it is not difficult to find these types of property in the area. Even better, they are easy on the bank accounts because of the affordability they provide. In fact, the average listing price of the condos in the area from January to March this 2018 is only $277,099, which is so much cheaper than single-family homes. Additionally, the highest list price for the mentioned period was only $449,900.

With these affordable prices, the condos and townhomes in the city present an inexpensive way to purchase a property without worrying too much about the costs.

The condos in the city are easy to locate since they are typically in the downtown area. Most of these properties have at least two beds and one bath, although it is not a huge challenge to locate bigger condo units with at least three bedrooms and one and a half bathrooms.

The condo units in this area vary considerably in prices, but it is not difficult to find ones that will not cost a lot. It is one of the biggest reasons why this city is a good hunting ground for new condos, especially for people who have no experience in purchasing a property.

One of the best neighborhoods to look into for those who want to save big on a condo unit is at Foster Street. In this area, it is possible to find a condominium that spans more than 800 square feet in space with two beds and two baths. This particular unit will only cost around $199,000, which is a much lower asking price than other areas in the city.

Typically, the units here cost $231 per square foot. Plus, it is easy to locate buildings in this part of the town that have historical significance. Some of the structures in this area were built around the 1900s or even older.

Aside from the asking price, it is vital that homebuyers know about the monthly homeowner’s association fee. This fee will depend on many factors, but usually, condos that ask for the mentioned sale price will have a monthly HOA of $260. This particular fee is essential to get the most out of the services and features that the condo offers.

Some of the condos in this area have excellent facilities, including a gym, in-ground swimming pool, parking spaces, and a spa. Often, the fee includes services, such as landscaping, garbage disposal, and maintenance of the building.

With the options available, a condo buyer will immediately see the value and appeal that the buildings in this area possess. Most of the condos are within a few steps from the city’s downtown area and therefore, the residents will see that the place has so much to offer. From destinations like shopping centers and even art galleries to activities such as painting and watching concerts, there is always something in this city that the resident will love. Plus, public transportation is never a problem because of the abundance of choices available.

Apartments for Sale in the City

Meanwhile, for those who are searching for apartments in this area, they will not be disappointed. While the condos and townhomes are more frequent in the city than apartments, many people still seek out the latter.

When 2018 opened, there were less than ten apartments for sale in the city. However, many were up for rent, especially in the downtown area. The average listing price for apartments here is $639,554 and the highest rate that was listed during the mentioned period was $2.1 million.

The apartments are charming, and some are genuinely spacious. The ones for sale are typically larger than condos with more than two bedrooms. In fact, an apartment with six bedrooms and three bathrooms with a total size of 3,767 square feet can go on sale for $2.2 million. In this type of property, it often means that there are 13 rooms, including the bedrooms, bathrooms, living room, and the kitchen area.

The apartments usually talk about the lovely views they provide to the new owners. In some neighborhoods, it is quite rare to find an apartment because most of the available properties are either single family homes or condominiums. Nevertheless, when you see one, it will be difficult to let it go. Most of the apartments here possess great amenities and features, such as a living room that comes with a bay window and a dining room that has a walk-in pantry.

The kitchens are usually very spacious, and they have pantries as well. The apartment’s central floor will usually contain sliders that will lead to a particular part of the house, such as a private porch. At the upper level, the master bedroom is usually located here, and since most of the properties in this city are quite old yet recently renovated, they mostly keep the original design of the structure. In this case, you will typically find huge windows and cathedral ceilings.

The main and the other bedrooms have a walk-in closet, and some have an adjoining room, which can be used as a baby’s room, a study, or an office. As for the bathrooms, you will not run out of space if it is something you are worried about. Most baths are quite expansive with a separate shower, tub, and closet for storage. Some bathrooms even use skylight to provide a pleasant effect while using the room.

It is also common to find apartments that have additional bedrooms, and they have spacious closets and other places where you can store your things. If you want a home that looks modern and yet still contains the original hardware, oak floors, and other details, it is not unusual to find some of these properties in the city.

Some apartments have unfinished basement areas, which can be used as additional storage space or even another room. The properties are typically fenced to provide peace of mind to the residents. Parking is also given, which can accommodate up to two cars.

More about the Real Estate Properties in the City

From single family homes to condos to apartments in this city in MA there are numerous choices for people looking for a new place to live in. The properties are affordable, but there are also some that are quite expensive. Nevertheless, the costly ones have more features and are sophisticated, which is why you will know that they are well worth their price.

Kitchens are guaranteed to be spacious with ample space for the counters. Some even have an island, which is typically a part of an open concept kitchen. Beyond that area, the resident will see a large living room with exposed brick accents, especially if the property has been around for several years. Most of the condo units and the apartments use hardwood floors, although it is also common to find single-family homes that use this type of flooring.

The city has many attractions and amenities for the residents. For instance, they can quickly locate Whole Foods and Trader Joe’s. Starbucks and the General Edward Lawrence Logan International Airport are nearby, which can be accessed within minutes if you ride your car.

Some of the landmarks that make the city prominent are the Salem Witch Dungeon Museum, Bit Bar Salem, and the Witch History Museum. Most of the apartments and the other residential properties provide easy access to these mentioned locations.

It is evident that this city has a rich history and the historical sites and museums prove that point. People who search for new homes in this area seek to be near these historical places, which include the Felton Smith Historic Site. There are also numerous activities available for people who live in this city, including picking fresh apples, raspberries, and other fruits at the Brooksby Farm.

There are also other outdoor activities, including playing golf at the Meadow at the city, which is ranked as one of the best in the entire state. Additionally, the city owns a sizeable public skating rink near a high school, which is off Lowell Street.

The properties in the city are somewhat diverse. Thanks to the downtown area and the desirable location of the residences, the city has become a great place to live in. Plus, it has one of the lowest tax rates for properties all over Massachusetts. The residents also do not have to worry about electric bills getting too high because of the Municipal Light Plant.

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