Where I-495 intersects with I-93, just about 20 miles north of Boston, you’ll find the not-so-small town of Andover, Massachusetts. The town itself stretches approximately 32 square miles and contains nearly 225 miles of roadways. Andover’s location makes this crossroads community home to some major commercial and industrial players such as Raytheon, Philips Electronics, BioPharma, Verizon, Compaq, Gillette, Hewlitt Packard and Smith-Nephew.
The wealth of industry has kept both the job and housing markets a bit more stable than other areas. The housing market in particular has remained strong and resistant to a downturned economy. In fact, in 2005, homes sold for an average of 98% of their listing price. Then in 2011, that number dipped only slightly to 96%. The average and median home prices have gone down in the last several years, but all that really means is that it is a great time for buyers to negotiate a deal!
Andover’s proximity to Boston, eastern waterways, and major highways have all played into its appeal for residents and businesses alike. According to the latest census data, roughly 33,200 call Andover home today.
Families in Andover have an excellent choice of schools, both public and private. The prestigious Phillips Academy in Andover is the oldest incorporated academy in the US (since 1778), with scores of famous alumni.
Real Estate Market Facts:
- 588 Properties Sold
- Median Price $480,000
- 444 Properties Sold
- Median Price $384,000
Restaurants and Eateries:
Things to Do/See:
- The Steven’s Coolidge Place
- Addison Gallery of American Art
- Museum of Archaeology
- Thursday Night Picnic Concerts (June-August)
- Feaster Five Road Race (November)
- George H. W. Bush, George W. Bush, and Jeb Bush all attended Phillips Academy in Andover.
- Actor Humphrey Bogart attended Phillips until he was expelled in 1918.
- Andover is the site of a large factory owned by Raytheon, the builder of the Patriot Missile.
- Jay Leno, entertainer, The Tonight Show
- Harriet Beecher Stowe, lived in Andover while her husband taught at Andover Theological Seminary. She is buried on the campus of Phillips Academy.
- Jim Rice, left fielder for the Boston Red Sox
- Anne Bradstreet, 17th-century poet
From grand mansions to more modest ranch-style homes and townhomes, the market in Andover provides the variety and stability that just about any home buyer can appreciate. Take a look at this community for yourself at any one of these upcoming open houses. If you find an Andover favorite that is not listed for Open House, let us know and we’ll be happy to schedule a showing with you!
As always, Territory is on your side and ready to help save you money on your next home purchase!