Is Andover Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Andover Township has remained a Seller's Market.
Key Takeaway
Andover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Andover Township, NJ
How much do homes in Andover Township, NJ cost?
Median Sold Price
$430,000
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Andover Township have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Andover Township was $430,000 in May 2024, up 2.3% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168.7K | $225K | +33.3% |
| 2 Bedrooms | $295K | $305.2K | +3.5% |
| 3 Bedrooms | $379.9K | $410K | +7.9% |
| 4 Bedrooms | $532.5K | $594.5K | +11.6% |
| 5+ Bedrooms | $625K | $683.2K | +9.3% |
Summary: Andover Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 9.3%.
Housing Supply in Andover Township, NJ
How many homes are available in Andover Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 52 | +2.0% |
Summary: The Andover Township real estate market had 52 homes for sale in May 2024, a 2.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 8 | 5 | -37.5% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 17 | 20 | +17.6% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Andover Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 37.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 9 | -30.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Andover Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Andover Township in May 2024, down by 30.8% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for Andover Township, NJ
We’re sorry, we don't have information for this market at the moment
