$5,105 Closing Credit*
$429,900
1,198 SqFt
2 Beds
•2 Full Baths
#73290961, Margaret OConnor, Listing Office: Coldwell Banker Realty - Andover
Is Andover, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Andover has remained a Seller's Market.
Key Takeaway
Andover is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Andover, MA
How much do homes in Andover, MA cost?
Median Sold Price
$904,625
$387/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$64,625(+7.7%)
Key Takeaway
Homes in Andover have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Andover was $904,625 in August 2024, up 7.7% from last year, and the median price per square foot was $387.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $312.5K | $325K | +4.0% |
| 2 Bedrooms | $367K | $415K | +13.1% |
| 3 Bedrooms | $730K | $797K | +9.2% |
| 4 Bedrooms | $966.5K | $1.1M | +16.9% |
| 5+ Bedrooms | $1.2M | $1.4M | +20.2% |
Summary: Andover housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 16.9%, and 5+ bedroom homes increased by 20.2%.
Median Sold Price Compared To Nearby Cities
| Lawrence | $480K | $542.1K | +13.0% |
| Wilmington | $670K | $734K | +9.6% |
| Andover | $840K | $904.6K | +7.7% |
| Tewksbury | $582K | $610.3K | +4.9% |
| North Andover | $711.6K | $702.8K | -1.2% |
Housing Supply in Andover, MA
How many homes are available in Andover, MA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 142 | 116 | -18.3% |
Summary: The Andover real estate market had 116 homes for sale in August 2024, a 18.3% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 8 | 0.0% |
| 2 Bedrooms | 10 | 8 | -20.0% |
| 3 Bedrooms | 36 | 31 | -13.9% |
| 4 Bedrooms | 58 | 45 | -22.4% |
| 5+ Bedrooms | 30 | 24 | -20.0% |
Summary: The Andover housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 13.9%, 4 bedroom homes decreased by 22.4%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 48 | 48 | 0.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Andover, you could pay more than the asking price. 64.6% of homes here sold above asking price last month.
Summary: A total of 48 homes were sold or pending in Andover in August 2024, the same as the previous month. Of the 48 sold homes, 23% were sold under asking, 13% were sold at asking, and 65% were sold over asking.
Days on Market for Andover, MA
How long does it take to sell a home in Andover, MA?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 23 Days | 24 Days | +4.8% |
Summary: Homes in Andover had an average of 24 days on market in Aug 2024, up by 4.8% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Andover are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 48 homes were sold in Andover; 75% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
