Is Andover, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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, NJ
How much do homes in Andover, NJ cost?
Median Sold Price
$500,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Andover have sold for 13.6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | - | N/A |
| 2 Bedrooms | $260K | $320K | +23.1% |
| 3 Bedrooms | $409.9K | $415K | +1.2% |
| 4 Bedrooms | $565K | $635K | +12.4% |
| 5+ Bedrooms | $645K | $631.2K | -2.1% |
Summary: Andover housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Cities
| Andover | $440K | $500K | +13.6% |
| Byram Township | $410K | $443K | +8.0% |
| Andover Township | $420K | $433.4K | +3.2% |
Housing Supply in Andover, NJ
How many homes are available in Andover, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 21 | +31.3% |
Summary: The Andover real estate market had 21 homes for sale in March 2024, a 31.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Andover housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 60%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Andover, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Andover in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Andover, NJ
We’re sorry, we don't have information for this market at the moment
