Why Buyers Love Colonial Homes in Andover MA

Ask buyers what style of home they’re hoping to find in Andover MA and there’s a good chance you’ll hear Colonial. While buyers certainly purchase Capes, Ranches, Split Entries, Raised Ranches and Contemporaries, Colonial homes in Andover MA continue to have exceptionally broad appeal.

I’ve seen that preference firsthand while working with local buyers. But I wanted to see if the actual sales numbers showed anything interesting.

So I looked at the past 16 months of single-family home sales in Andover and North Andover and compared Colonials with every other home style.

They did.

What Did Local Colonial Homes Sell For?

Over the 16-month period I reviewed, the numbers broke down like this:

Colonial Homes

• Average sale price per square foot: $430
• Average days on market: 18 days

All Other Home Styles

• Average sale price per square foot: $400
• Average days on market: 31 days

Colonial homes sold for approximately $30 more per square foot, or about 7.2% more, than all other architectural styles combined.

The difference in marketing time was almost double 18 – 30.

The difference in price per square foot is considerable as well.

What Does a $30 Per Square Foot Difference Mean?

On a 2,000-square-foot home, $30 per square foot represents $60,000.

On a 2,500-square-foot home, it’s $75,000.

Of course, that doesn’t mean taking a 2,500-square-foot Ranch and turning it into a Colonial would suddenly make it worth another $75,000.

There are too many variables in real estate.

Neighborhood, condition, age, renovations, lot size, garage space, bedrooms, bathrooms and overall quality all affect what a buyer will pay. Smaller homes can also naturally command higher prices per square foot.

But a 7.2% difference across actual Andover MA sales is significant enough to be worth noticing.

It also lines up with what I see when working with buyers.

Why Are Colonials So Popular Here?

Part of the appeal is probably familiarity.

Drive through established neighborhoods in Andover and Colonials are everywhere.

Some are older traditional homes closer to the town centers. Others are Garrison Colonials built during the postwar growth of the towns. Move into subdivisions developed during the 1980s, 1990s and 2000s and you’ll find larger Center Entrance Colonials with attached garages, family rooms and primary bedroom suites.

The architecture changed over time, but the basic floor plan remained remarkably consistent.

Buyers understand it.

Living downstairs. Bedrooms upstairs.

Sometimes simple is exactly what works.

Colonials Fit Andover Neighborhoods

One of the interesting things about these two towns is the variety of Colonials you’ll find.

A buyer might find an older Colonial relatively close to downtown Andover’s Town Common and then tour a much newer Colonial later that afternoon in a completely different type of neighborhood.

Depending on location and age, buyers may encounter:

• Antique and early traditional Colonials
• Center Entrance Colonials
• Garrison Colonials
• Colonial Revivals
• Expanded Colonials
• Larger subdivision Colonials
• Custom-built Colonials

That gives buyers a wide range of choices while maintaining the basic architectural style they prefer.

Colonial vs. Cape Cod Homes

Capes are also a natural fit for Andover.

They have classic New England character and can be particularly attractive when they’ve been expanded or renovated.

But traditional Capes usually have one-and-a-half stories rather than two full stories.

That can mean:

• Sloped second-floor ceilings
• Smaller upstairs bedrooms
• Less closet space
• Dormers needed for additional usable space
• First-floor bedrooms in some layouts

For some buyers, that’s part of a Cape’s charm.

But families looking for three or four full bedrooms on the same level often gravitate toward a Colonial instead.

Colonial vs. Ranch Homes

Ranches have a completely different advantage: single-level living.

That can make a Ranch particularly desirable for downsizers or buyers thinking about aging in place.

And because Andover and North Andover have a limited supply of Ranch homes, a nicely updated one can generate considerable buyer interest.

But a Ranch requires a larger footprint to provide the same amount of living area.

A Colonial can put 2,500 square feet on two levels while maintaining a relatively compact footprint. That’s particularly useful on lots where homeowners still want a good-sized backyard, patio, pool or other outdoor space.

What About Split Entries and Raised Ranches?

You’ll also find plenty of Split Entries and Raised Ranches throughout Andover.

These homes can offer buyers a lot of usable space for the money.

The lower level may provide:

• Family room
• Home office
• Additional bedroom
• Laundry
• Storage
• Garage
• Exercise room
• Flexible living space

The tradeoff is the layout.

Some buyers don’t mind walking through the front door and immediately having stairs going both up and down.

Other buyers simply don’t like it.

That’s one area where the Colonial has an advantage. The traditional entry and floor plan tend to be less polarizing.

Colonials Can Be Traditional Outside and Modern Inside

Another reason Colonial homes in Andover MA remain popular is that they adapt extremely well.

Many older Colonials were built with separate kitchens, dining rooms, living rooms and family rooms.

Over the years, local homeowners have opened walls, expanded kitchens and added onto these homes.

Today it’s common to see updated Colonials offering:

• Open kitchen and family-room layouts
• Large kitchen islands
• Mudrooms
• First-floor offices
• Primary bedroom suites
• Finished basements
• Rear additions
• Screened porches or sunrooms
• Larger decks and patios
• Three-season or four-season rooms

The result can be the best of both worlds: a traditional New England exterior with a modern interior.

Does a Colonial Automatically Mean a Higher Home Value?

No.

A beautifully renovated Ranch in a desirable Andover neighborhood could easily be worth more than an outdated Colonial nearby.

Architectural style is only one part of determining value.

But our recent local numbers are hard to ignore.

Colonial homes in Andover averaged $430 per square foot over the 16-month period reviewed. Other home styles averaged 400 per square foot.

That’s approximately a 7.2% difference.

It doesn’t prove that being a Colonial caused the higher selling price. But it does suggest that the style continues to perform very well in these two local markets.

And broad buyer appeal certainly doesn’t hurt when it’s time to sell.

Looking for a Colonial in Andover?

If a traditional two-story layout is important to you, searching specifically for Colonials can be a good way to narrow down the available inventory.

SEARCH LOCAL HOMES:

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There isn’t one architectural style that’s perfect for every buyer.

Some buyers love the character of a Cape. Others specifically want the convenience of a Ranch or see tremendous value in the additional space offered by a Split Entry.

But after years of showing homes locally, the Colonial remains one of those styles that appeals to an unusually broad range of buyers.

And now we have some local numbers to go along with that observation.

Over the past 16 months, Colonial homes in Andover and North Andover sold for nearly 8% more per square foot than other home styles combined.

That’s an interesting statistic—and another reason the traditional Colonial continues to be such an important part of the Andover and North Andover real estate markets.