Haverhill MA Real Estate Market in 2023 (Best Place to Buy a Home?)

Single Family Sales in Haverhill

In Haverhill last year, we saw a total of 375 single family sales which is down from 481 in 2021. That represents an over 22% decrease! 

The average sale price of those homes was $526,027 which is an 8.44% increase from 2021.

Also looking at the average sale price per square foot, last year in Haverhill it was $289.76, which is up 10.25% from $262.81 in 2021. 

So for single family homes in Haverhill MA we saw a sharp drop in the number of homes but actually saw an increase in the prices compared to the year before

Haverhill Condo Sales

In Haverhill, we saw 268 total condos sell in 2022, which is down from 353 in 2021, an over 24% drop- even more than we saw with single families!

The average sale price of those condos was $358,423 which again, just like we saw with single family homes, was up from the year before where it was $308,529 marking a 16.17% increase!

The average sale price per square foot also increased, nearly 10% to $264.02 from $240.23

So once again, a similar story where the number of sales sharply decreased but the prices did in fact rise quite a fair bit

Bradford Real Estate

Looking at just Bradford, there were 50 single family sales, and 36 condo sales.
Both of which are down slightly from 2021 (57 & 38 respectively), but nowhere near the decrease in the number of sales from what we saw in Haverhill MA as a whole.

Bradford had higher average sale prices in both single family homes and condos with
$542,234 being the average for single families and $404.033 being the average for condos. Those numbers are up roughly 10 & 17 percent from the year prior (respectively).

The price per square foot in Bradford sat at around $270 for both single family homes and condos

Haverhill Multifamily Market

I would be somewhat remiss if I was talking about Haverhill MA real estate and didn’t even mention multifamily properties. 

I usually only focus my content on single family homes and condos as I make these more for the owner occupant, but I myself would consider a small multi family in a place like Haverhill!

There were 131 total multifamily sales in Haverhill MA last year, with a majority of those being 2 family homes.

The average sale price last year was $608,204, which is up 14.51% from 2021, and the average sale price per square foot was $222.69 up 11.49% 

This to me says that your money can go a bit further with multifamily in Haverhill at least in terms of getting more house & more square footage!

Haverhill MA Real Estate in 2023

But now for the fun part! Let’s take a look at the current Haverhill MA real estate market in 2023!

So far this year, there have been 15 single family sales and 27 condo sales. The average sale price for single family homes right now compared to this time last year is down 10.29%! The average sale price for condos isn’t too far behind, down 9.11% from this time last year!

I wouldn’t go as far as saying the market’s crashing & burning, but there’s been a definite correction that I think was necessary!

Currently there are 29 listings available in Haverhill, 14 single family homes and 15 condos which is a positive sign for all of the buyers out there. 

I think we’re probably at least a few weeks out or more until we really start seeing inventory from the spring market, but if the winter remains mild, we could see increased activity sooner.

Living in Haverhill MA

Transitioning now to what it’s like living in Haverhill. There’s a lot going on in Haverhill MA so I’m just going to hit some of the landmarks and highlights.

You have Downtown Haverhill which is full of restaurants and businesses. Haverhill’s downtown has been going through a major revitalization effort, there’s a number of new developments and projects in the works 

There’s also Ski Bradford for some close to home skiing, which has 15 trails and over 60 acres of skiable terrain

Those looking to get outdoors, there’s the Bradford Rail Trail & Art Walk. It’s a half mile path along the Merrimack River which had its grand opening in 2017 & is planned to be extended

You also have Winnekenni Park, where there’s Winnekenni Castle but also a selection of trails and conservation area around Kenoza Lake. This is a popular outdoor recreation area where you’ll also find Lake Saltonstall, locally known as Plug pond

Moving to Haverhill MA

Now if you’re considering moving to Haverhill, here’s a few things you should probably know.

Haverhill is on 495 & the commute into Boston isn’t too bad at about 40 minutes if you take 495 to 93 into the city. I will say that 495 is pretty unpredictable with traffic and can stop on a dime so that 40 minutes is definitely a best case scenario!
It’s not uncommon to see 495 at a complete standstill. Just a fair warning!

Haverhill does have a train station right in downtown on Washington Ave plus a decent bus route system with the Merrimack Valley Regional Transit Authority

A perk to Haverhill and one of its main draws is its affordability! The Haverhill MA real estate market has definitely gone up significantly in the past few years, but it remains to be one of the cheaper places to buy a home on the North Shore. 

Your money will generally go further in Haverhill & for people looking for a more rural feel, parts of Bradford honestly feel like Groveland.

There’s a fairly low Residential Tax rate at 11.15 per 1,000 of assessed value for 2023 

With the revitalization efforts and development that’s been going on, I also think Haverhill provides a decent investment opportunity. I think we’ll most likely see decent appreciation in the coming years as Haverhill continues with the path that it’s been on.

Conclusion

If you’re in the market to buy or sell a home in Haverhill MA or a nearby town, reach out & I’d love to help! Email Me