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Originally Posted by 18Montclair
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Andover was a bit of a laggard relative to the inner suburbs of Boston between the housing crisis and COVID. Everyone was fighting for homes in places like Arlington, Belmont, Winchester, and further out like towns like Reading. Places like Melrose and Waltham were the hottest or amongst the hottest zip codes in the country for years. But, there’s more equilibrium in the market now as the fight to get close to the city has cooled relative to what it was.
So, Andover makes sense. You get the downtown and walkable neighborhoods. You get the train, the restaurants. And you get the good schools. But you also get more space, more updates, access to nature, and closer proximity to beaches and northern New England compared to towns close to Boston. Thus, it’s in high demand and prices have gone up, and its position in Eastern Massachusetts is more like what it was prior to the housing crisis. Back when further flung suburbs were often more attractive.
I’m sure Ridgewood, NJ is another good example of the above. And I’m sure many in major metros are similar.
In general, though, this has been a trend coming out of COVID. Northeast, Midwest, and parts of the South/Southeast make up a material % of value increases and demand. Which, in the case of the Midwest in particular, largely wasn’t the case heading into COVID. Very interested to see how this all takes form.
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