The news is more and more positive across the country. Home prices have risen for three straight months and the number of sales have increased for four straight months. While the news is positive real estate values in 
Andover and North Andover have yet to turn the corner. The median sales price for single family homes in Andover remains 5.5% lower this year compared to 2008. The median sales price for single family homes in North Andover is 9.7% lower in 2009 compared to last year. So yes, it is a buyers’ market and there is no doubt about it. The buyers who are getting the best deals are those buying luxury real estate. Luxury homes have had the biggest drops in pricing and for those with deep pockets the savings can be tremendous.
A recent article in the Wall Street Journal points out the significant drop in price among luxury real estate. Data is showing that while mainstream home prices are stabilizing, luxury real estate, homes selling for $2 million or more, are dropping their asking prices an average of 14%. The article states, “Bottom line: At the high end, it’s a good time to be shopping for that dream home.”
If you have been dreaming of luxury real estate and have the money, this could be the time to make your dream come true.
Click here to visit the Wall Street Journal article “Seeking Real Estate Bargains? Try Looking at the High End”.
Start here to find your luxury home in Andover or North Andover.
