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March 2014 Community Update for North Andover

It’s spring election time again and it’s taking place on March 25th from 7 a.m. to 8 p.m. at the North Andover High School. It’s important that you vote this year because we have a contested position for selectman, there are 2 seats open and 3 people running for the position.

North Andover Real Estate Market Report March 2014

We’re seeing inventory numbers year-over-year up about 13.5% which is nice, bucking the trend of the rest the the state. Month-over-month that number is actually down
but it is up year-over-year. Single-family homes are starting to pick up a little bit with availability. We’re also seeing that the unit numbers of homes selling is down 6.8% at 41 unit sales happening in the past three months compared to the same time period last year.

What’s really interesting though the median sale price of homes in North Andover is up 26% $515,000. When we see a huge jump like that in a specific time period year over year, it doesn’t necessarily mean that your home has appreciated 26%, it means that the buyers are buying into a different price bracket. Certainly there can be dramatic increases in your home values, and we can help you determine that as well just let us know and we’ll be happy to help you with that. But this tells me that people are jumping into a higher price bracket in North Andover and probably taking advantage of low interest rates.

On the condo side we see a dramatic drop in units available down to only 25 available condos in North Andover. That’s down 45% from last year. The unit sales for condos is up to 34 units up 61.9%, this shows a dramatic increase in sales with less inventory which surprise me to see a drop in the median sale price. What this is telling me is that people are selling their lower priced condominiums and perhaps stepping into single family homes now, probably taking advantage of low interest rates.

We’d be happy to help you with your home sale or purchase in North Andover, give us a call at (978)494-0346.

New Construction North Andover MA Home for Sale

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 100 Lisa Lane North Andover MA 01845, New Construction North Andover MA Home for Sale.

PRICE: $829,900

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Every Tuesday we attend a “Brokers Tour” of homes for sale in North Andover MA.  A Brokers Tour is when the local realtors in the community set one weekday for real estate agents to tour a group of local homes for sale in the area.  It’s only open to real estate agents, there is a set time for each home to be open for viewing, and the listing agent is there to answer any questions about the home.  These tours give real estate agents a chance to preview homes for sale, and find out if it’s a fit for their clients needs. It’s also a great opportunity for listing agents to get the word out about their newly listed homes for sale!

Today we toured these five homes for sale in North Andover MA below.  Please contact us if you have any questions or would like to set up an appointment for a showing.

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North Andover MA House for Sale

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 10 Cotuit St North Andover MA 01845, nearby Old Center and Merrimack College in North Andover

PRICE: $355,000

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North Andover MA House for Sale

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 358 Bear Hill Rd North Andover, MA 01845, Sub-Division: Bear Hill Estates

PRICE: $850,000

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North Andover MA House for Sale

ADDRESS: 622 Salem Street North Andover, MA 01845

PRICE: $799,900 – THIS HOME HAS BEEN SOLD – SALE PRICE: $785,000

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This is our February 2014 North Andover MA real estate and community update. Happy Valentine’s Day!

North Andover Events for February 2014

2014 Taste of North Andover

The North Andover Youth Center is hosting this annual event, they’ve teamed up with North Andover restaraunts to provide the food, there will be live entertainment from How at the Moon dueling pianos, plus live auctions.  The event is on Saturday, March 8th, and it’s $50 per person. Get your tickets today, as they are limited.  Visit www.nayouth.com for details.

CAM Access North Andover

There’s a new program called “North Andover Journal” featuring people and places in North Andover, focusing on all things positive.  They’re also looking for people to be on the show, so if you’re interested visit www.northandovercam.org for more details.

Merrimack College Rogers Center for the Arts

Some great performances are coming up that you may be interested in: Romeo and Juliet on February 27th and also Snow White by the NE Civic Balley Company on March 22nd. For more information and show times visit: www.merrimack.edu.

North Andover MA Real Estate Market Report

We are getting ready to head into the spring market, which officially begins the week after school vacation ends in February.

Single family homes for sale in North Andover is up to 62 homes, thats a 12.7% increase from last year at this time.  There are more homes for sale this year than last,  so we’re seeing a pickup in units coming on the market. This may mean home owners are getting a jump start on the spring market before others, which is a good idea.

We see that the units sold in the past 3 months as compared to last year at the same time is down by 9.4% to 48 units. This is interesting because right now in other communities it’s a seller’s market, where unit sales are typically going up, but here in North Andover we’re seeing a reduction in unit sales and an increase in inventory. This is the opposite of what the rest of the state of Massachusetts is doing. The median sale price is up 7.5% to $457,000.  Condominiums are more seller sided, only 24 condos for sale, that’s 46.6% less than last year at this time. There’s a shortage of condominiums for sale in North Andover.

The unit sales for condominiums are up 13% to 34 units, so there is more buyer activity happening vs. last year at this time and there is less to choose from. The
result is a median price of almost flat year-over-year at $202,000.

Please give me a call if you have any real estate questions or if you need help selling your North Andover home.  Ron Carpenito, Keller Williams Realty, (978)494-0346.

Happy New Year North Andover, it’s January 2014! This is our North Andover Real Estate and Community update. First, I’d like to mention a few community items:

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