Is Andover, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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, MN
How much do homes in Andover, MN cost?
Median Sold Price
$439,270
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Andover has remained the same since last year.
Summary: The median home sold price in Andover was $439,270 in April 2024, down 0.2% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $185K | +2.8% |
| 2 Bedrooms | $317.4K | $339K | +6.8% |
| 3 Bedrooms | $413.7K | $380K | -8.2% |
| 4 Bedrooms | $445K | $470K | +5.6% |
| 5+ Bedrooms | $550K | $562.5K | +2.3% |
Summary: Andover housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes increased by 6.8%, 3 bedroom homes decreased by 8.2%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 2.3%.
Housing Supply in Andover, MN
How many homes are available in Andover, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 169 | 207 | +22.5% |
Summary: The Andover real estate market had 207 homes for sale in April 2024, a 22.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 17 | +41.7% |
| 3 Bedrooms | 45 | 56 | +24.4% |
| 4 Bedrooms | 80 | 95 | +18.8% |
| 5+ Bedrooms | 32 | 39 | +21.9% |
Summary: The Andover housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 24.4%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 21.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 46 | +64.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Andover, you could pay more than the asking price. 39.1% of homes here sold above asking price last month.
Summary: A total of 46 homes were sold or pending in Andover in April 2024, up by 64.3% month-over-month. Of the 46 sold homes, 26% were sold under asking, 35% were sold at asking, and 39% were sold over asking.
Days on Market for Andover, MN
How long does it take to sell a home in Andover, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 38 Days | +2.4% |
Summary: Homes in Andover had an average of 38 days on market in Apr 2024, up by 2.4% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Andover are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 46 homes were sold in Andover; 52% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
