Is North Andover, MA 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, 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
$704,666
$333/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in North Andover have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in North Andover was $704,666 in April 2024, up 2.1% from last year, and the median price per square foot was $333.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $263.5K | +9.8% |
| 2 Bedrooms | $399.9K | $430K | +7.5% |
| 3 Bedrooms | $628.7K | $640K | +1.8% |
| 4 Bedrooms | $925.4K | $927.5K | 0.2% |
| 5+ Bedrooms | $977.5K | $1.0M | +12.0% |
Summary: North Andover housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.8%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 12%.
Median Sold Price Compared To Nearby Cities
| Methuen Town | $513.1K | $541.6K | +5.6% |
| Methuen | $513.8K | $541.6K | +5.4% |
| Boxford | $899.5K | $939K | +4.4% |
| North Andover | $690K | $704.6K | +2.1% |
| Lawrence | $500K | $510K | +2.0% |
Housing Supply in North Andover, MA
How many homes are available in North Andover, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 61 | 72 | +18.0% |
Summary: The North Andover real estate market had 72 homes for sale in April 2024, a 18.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 19 | 23 | +21.1% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 15 | 19 | +26.7% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The North 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 21.1%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 22 | +69.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Andover, you could pay more than the asking price. 59.1% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in North Andover in April 2024, up by 69.2% month-over-month. Of the 22 sold homes, 32% were sold under asking, 9% were sold at asking, and 59% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 21 Days | -35.7% |
Summary: Homes in North Andover had an average of 21 days on market in Apr 2024, down by 35.7% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in North Andover are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in North Andover; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
