Is Andover Township, 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 Township has remained a Seller's Market.
Key Takeaway
Andover Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Andover Township, NJ
How much do homes in Andover Township, NJ cost?
Median Sold Price
$433,460
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Andover Township have sold for 3.2% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.5K | $225K | +30.4% |
| 2 Bedrooms | $265.4K | $300.5K | +13.2% |
| 3 Bedrooms | $379.4K | $410K | +8.1% |
| 4 Bedrooms | $535K | $599K | +12.0% |
| 5+ Bedrooms | $675K | $626K | -7.3% |
Summary: Andover Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.4%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 12%, and 5+ bedroom homes decreased by 7.3%.
Housing Supply in Andover Township, NJ
How many homes are available in Andover Township, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 51 | +24.4% |
Summary: The Andover Township real estate market had 51 homes for sale in March 2024, a 24.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 10 | +100.0% |
| 3 Bedrooms | 16 | 17 | +6.3% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The Andover Township 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 6.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Andover Township, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Andover Township in March 2024, up by 125.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.
Days on Market for Andover Township, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.