In April 2007, Boston Magazine printed an article titled: If You Lived Here, You’d Never Want to Leave, which showcased the most desirable streets to live on in the Greater Boston Area (and a bit beyond) in Massachusetts. In the “North” section of the article, Summer Avenue in Reading, Durham Drive in Lynnfield, Central Street in Andover & Great Pond Road in North Andover all made the list. (and as I just tweeted, this is all still absolutely true as far as people not wanting to leave those streets!)
So, I made a little comparison to see how values have changed on those highly valued streets. I compared the years 2007 & 2008 to 2015 & 2016. Now, I wasn’t expecting to find an equal amount of homes sold, as 2016 is not even halfway over, but overall the Average List vs Sale Price Per Square Foot, Average Price SOLD, and Average Days Until Offer. Once again, this is just using the streets mentioned above!
2007 & 2008
Average List Price Per Square Foot: $254
Average SOLD Price Per Square Foot: $233
Average Days Until Offer: 107
Average Sales Price: $722,248
2015 & 2016
Average List Price Per Square Foot: $265
Average SOLD Price Per Square Foot: $259
Average Days Until Offer: 66
Average Sales Price: $746,946
As expected - values rose, but not to an overwhelmingly huge degree. What is significant is the days on market. Offers came in 41 days quicker on average the past two years.
For more information about the Reading, North Andover, Lynnfield & Andover home sales market, contact:
Paul Santucci, President of Residential Sales, True North Realty
The great room at 66 Central Street, Andover. Sold for $1,700,000 in 2015