As a real estate expert in Derry, New Hampshire, I have been asked countless times about the average age of properties in this charming town. Derry is a popular destination for homebuyers due to its small-town feel, beautiful landscapes, and convenient location. But when it comes to the age of properties, there are a few factors to consider.
The History of Derry
Derry, also known as the "Spacetown" due to its connection to astronaut Alan Shepard, has a rich history dating back to 1719 when it was first settled. It was officially incorporated as a town in 1827 and has since grown into a thriving community with a population of over 33,000 residents. Throughout its history, Derry has seen periods of growth and development, as well as times of economic decline.This has had an impact on the age of properties in the town.
The Average Age of Properties
According to data from the United States Census Bureau, the median age of homes in Derry is 44 years old. This means that half of the homes in Derry were built before 1977 and half were built after. However, this number can be misleading as it includes all types of properties, from single-family homes to apartments and condos. When looking specifically at single-family homes, the average age is closer to 50 years old. One reason for this is that Derry has a large number of historic homes. These homes were built in the late 1800s and early 1900s and have been well-preserved over the years.They add character and charm to the town but also contribute to the higher average age of properties.
New Construction in Derry
While Derry has a rich history and many older homes, there is also a significant amount of new construction happening in the town. In recent years, there has been a surge in new developments, particularly in the southern part of Derry. These new developments offer modern amenities and designs, attracting homebuyers who are looking for newer properties. This has helped to balance out the average age of properties in Derry and provide more options for buyers.The Impact of Age on Property Values
When it comes to real estate, age can have a significant impact on property values. In general, newer properties tend to have higher values than older ones.However, this is not always the case in Derry. As mentioned earlier, Derry has a large number of historic homes that have been well-maintained and preserved. These homes often have unique features and architectural details that make them highly desirable to buyers. As a result, they can have higher values than newer homes in the same area. On the other hand, some older properties in Derry may require more maintenance and updates, which can lower their value. It is essential for buyers to carefully consider the age and condition of a property when making a purchase.
The Future of Properties in Derry
As Derry continues to grow and develop, we can expect to see a mix of both older and newer properties.The town has a strong commitment to preserving its history while also embracing new developments. With its convenient location just 35 miles from Boston and its charming small-town feel, Derry will continue to be an attractive destination for homebuyers. And with a variety of properties available at different ages and price points, there is something for everyone in this New Hampshire town.
