Homes Are Sensibly Priced in the North Quabbin Region

John and Jennifer are looking for a home for themselves and their two children. They want three bedrooms, a big yard and good schools. With a mortgage, they can afford to pay up to $160,000.

John and Jennifer started their search in the Fitchburg area, where the average single-family home sells for $200,000. The homes they could afford did not satisfy their needs.

In the Gardner area, where the average home sells for close to $180,000, they struck out again.

Then they learned that the average price of a single-family home in the nine-town North Quabbin Region over the past year is just under $144,000. Now John and Jennifer are looking around Athol, Orange and some of the neighboring villages. They are finding what they need for a price less than they expected to pay.

A Pocket of Opportunity

To buyers, it's an opportunity. To sellers, it's reality. To visitors, it's a surprise.

Home prices are lower in the North Quabbin Region. How much lower? Between 20% and 50% lower than nearby areas.

Look east, west, north or south from Athol and Orange. Home prices are higher in every direction. A recent Four Columns Realty study of single-family home prices over the past 12 months found that the North Quabbin Region is a pocket of opportunity for affordable real estate.

This pocket of opportunity is a mixed blessing. Athol-Orange area sellers find that their house sells for less than the price it might sell for in other parts of the state. As investors say, you make your money when you buy.

There is some good news for local sellers. Since the previous Four Columns Realty study last summer, average sale prices in the North Quabbin Region have moved up a bit. Still, by comparison, homes in our area remain a bargain.

28% Lower than Fitchburg

The average price of a home sold in the North Quabbin Region is 28% lower than the average price of a home sold in the Fitchburg area over the past year.

Looking west, the average price of a home sold in the North Quabbin Region is 27% lower than the average price of a home sold in the Greenfield area over the past year.

With its lower population density, our area offers larger lots, cleaner air and fewer traffic jams. You might expect this advantage to translate into higher real estate prices. Instead, North Quabbin homes sell at a buyer's discount.

Another North Quabbin advantage: With the Quabbin Reservoir, Lake Mattawa, Tully Reservoir and numerous ponds, you're never far from scenic views. And picturesque villages like Petersham, Royalston, North Orange, Warwick and New Salem are only a few convenient miles from major highways.

20% Lower than Keene NH

Property taxes in our area are often half as much as comparable property taxes in the nearby Monadnock Region of New Hampshire. Yet the average price of a home sold in the North Quabbin Region is 20% lower than the average price of a home sold in the Keene, New Hampshire area over the past year.

Back in Massachusetts, the average price of a home sold in the North Quabbin Region is more than 50% lower than the average price of a home sold in the Amherst area, just a short drive south, over the past year.

In fact, the average price of a home sold in the North Quabbin Region is an astonishing 60% lower than the average price of a home sold in all of Massachusetts over the past year.

As John and Jennifer discovered, the North Quabbin Region offers sensibly-priced homes. The best way to find one that meets your needs? Ask a local Realtor® to help you as your buyer's agent.

A North Quabbin Region Realtor® can also help a seller price a home to sell. Athol-Orange agents understand what the local real estate market means for sellers as well as buyers.

For more on the Four Columns Realty study of area home prices, visit FourColumnsRealty.com.

Les Black is the Principal Broker for Four Columns Realty in Orange, Massachusetts.


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