Dover, Mass., is a traditional New England town nestled amidst the picturesque landscapes of Norfolk County. Luxury living and natural beauty coexist in harmony here, providing a perfect environment for discerning homeowners. Dover has become a sought-after destination for individuals seeking an extraordinary quality of life, thanks to its timeless elegance, affluent neighborhoods, and mesmerizing natural beauty. For these reasons, the Dover real estate market remains a hotspot for both investors and prospective residents. This guide will dive deep into the Dover real estate market, examining current trends and prices and presenting an insightful forecast for the coming year.
Dover housing market forecast 2023
Home values increasing
Rising interest rates are expected to rise before they decline
Norfolk County housing market trends 2023
New listings and housing supply levels have also decreased compared to July 2022. Norfolk County saw 386 new listings, a drop of 25.2%. At the same time, the amount of time single-family homes sat on the market before selling increased from 21 to 24 days.
However, Norfolk County’s condo real estate market has stayed relatively close to 2022’s levels. New listings saw a slight decrease of .5% from 184 to 183. The average days condos spent on the market in July sat at 30, with no change compared to last year.
Dover foreclosure statistics 2023
However, foreclosure rates in Dover remain extremely low, with only three filings as of July 2023. This shows economic stability, as homeowners are financially secure and can pay their mortgages on time.
Dover median home prices 2023
Above all, Dover stands out for its serenity and natural beauty. The town has a significant equestrian presence, including several local stables and horse farms. Hikers and nature lovers frequently take to local trails. Meanwhile, history buffs appreciate the Benjamin Caryl House and other vestiges of old Dover. The town’s scenic roads are rarely trafficked, and snow covers the grounds over 50 days of the year, on average.
One distinctive feature of Dover is its zoning requirements, which stipulate that residential properties be one acre or larger. Indeed, homes are typically set on large lots and offer a tranquility unmatched for a town so close to downtown Boston. Dover has prestige as one of the state’s wealthiest towns, with an excellent school district, stunningly modern homes, and older estates.
Neighborhood spotlight: River’s Edge
Ready to explore Dover real estate?
However, as with any real estate market, prices and conditions can change. While Dover’s market offers tremendous opportunities for both investors and buyers seeking exclusivity and refinement, it is vital to stay current on current trends and forecasts. Consulting with an experienced local real estate expert like Elena Price will be invaluable when navigating the ever-changing, dynamic Dover real estate market. As a Global Luxury Specialist with over one billion dollars in sales, Elena Price has the dedication, confidence, and expertise to help buyers find their dream luxury homes in Dover. Contact Elena to start exploring Dover real estate today!