Is North Andover, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Andover is a seller's market

Buyer's
Market

Difference Since May 2021

Since last year, North Andover has remained a Seller's Market.

Key Takeaway

North Andover is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in North Andover, MA cost?

Median Sold Price

$630,000

$306/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$35,500(+6.0%)

Key Takeaway

Homes in North Andover have sold for 6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $198K$230K
+16.2%
2 $324K$335K
+3.4%
3 $515K$583K
+13.2%
4 $750K$875K
+16.7%
5+ $780K$1.0M
+28.2%

Median Sold Price Compared To Nearby Cities

Lawrence
+15.0%
Methuen Town
+14.5%
Methuen
+14.5%
Andover
+6.1%
North Andover
+6.0%

How many homes are available in North Andover, MA?

Number of Homes For Sale

Apr 2022May 2022%
110137+24.5%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 35
+66.7%
2 2018
-10.0%
3 3237
+15.6%
4 4055
+37.5%
5+ 1522
+46.7%

Number of Homes Sold

Apr 2022May 2022%
2639+50.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

34 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Andover, you could pay more than the asking price. 87.2% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
19 Days14 Days-26.7%

Breakdown of Home Sale Times

38 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in North Andover are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About North Andover, MA

North Andover, MA has 137 homes on the market. The number of homes for sale in North Andover, MA increased by 24.5% between April 2022 and May 2022. In May 2022, listings were on the market for 14 days. During the same period, the median list price in this real estate market was $630,000. Listing prices have changed in this real estate market between April 2022 and May 2022: prices of 1 bedroom properties went up by 16.2%, the cost of 2 bedrooms properties went up by 3.4%, 3 bedrooms properties became 13.2% more expensive, prices of 4 bedrooms properties increased by 16.7%, the cost of 5 bedrooms properties went up by 28.2%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes went up by 66.7%, 2 bedrooms homes became 10% less available, the quantity of 3 bedrooms homes went up by 15.6%, number of 4 bedrooms homes increased by 37.5%, the quantity of 5 bedrooms homes went up by 46.7%. Over 34 listings were sold over their listed price in May 2022 in North Andover, MA. In the same period over 3 listings were sold below the listed price and 2 listings were sold for the listed price.

Related Housing Market Reports