$9,797 Closing Credit*
$825,000
3,167 SqFt
3 Beds
•3 Full Baths
#73286772, Casey Walsh, Listing Office: Concept Properties
Is North 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, 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.
Housing Prices in North Andover, MA
How much do homes in North Andover, MA cost?
Median Sold Price
$702,875
$346/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
-$8,791(-1.2%)
Key Takeaway
Homes in North Andover have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in North Andover was $702,875 in August 2024, down 1.2% from last year, and the median price per square foot was $346.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $241K | $266K | +10.4% |
| 2 Bedrooms | $415K | $424K | +2.2% |
| 3 Bedrooms | $650K | $641.5K | -1.3% |
| 4 Bedrooms | $925.1K | $955K | +3.2% |
| 5+ Bedrooms | $1.1M | $1.0M | -7.6% |
Summary: North Andover housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 2.2%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Lawrence | $480K | $542.1K | +13.0% |
| Methuen Town | $517.5K | $555K | +7.2% |
| Methuen | $517.5K | $555K | +7.2% |
| Boxford | $925K | $925K | 0.0% |
| North Andover | $711.6K | $702.8K | -1.2% |
Housing Supply in North Andover, MA
How many homes are available in North Andover, MA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 103 | 79 | -23.3% |
Summary: The North Andover real estate market had 79 homes for sale in August 2024, a 23.3% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 19 | 10 | -47.4% |
| 3 Bedrooms | 29 | 18 | -37.9% |
| 4 Bedrooms | 44 | 41 | -6.8% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The North Andover housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 47.4%, 3 bedroom homes decreased by 37.9%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 41 | 22 | -46.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Andover, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in North Andover in August 2024, down by 46.3% month-over-month. Of the 22 sold homes, 27% were sold under asking, 9% were sold at asking, and 64% were sold over asking.
Days on Market for North Andover, MA
How long does it take to sell a home in North Andover, MA?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 15 Days | 19 Days | +29.6% |
Summary: Homes in North Andover had an average of 19 days on market in Aug 2024, up by 29.6% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Andover are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 22 homes were sold in North Andover; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
