$10,000 Closing Credit*
$1,100,000
2,338 SqFt
4 Beds
•2 Full Baths, 2 Partial
#73313232, Treetop Group, Listing Office: Keller Williams Realty
Is Andover, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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, MA
How much do homes in Andover, MA cost?
Median Sold Price
$886,000
$386/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$36,000(+4.2%)
Key Takeaway
Homes in Andover have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Andover was $886,000 in October 2024, up 4.2% from last year, and the median price per square foot was $386.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $305K | $305K | 0.0% |
| 2 Bedrooms | $363K | $447K | +23.1% |
| 3 Bedrooms | $725K | $785K | +8.3% |
| 4 Bedrooms | $1.0M | $1.1M | +12.9% |
| 5+ Bedrooms | $1.2M | $1.5M | +20.5% |
Summary: Andover housing prices by bedroom type for October 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 8.3%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 20.5%.
Median Sold Price Compared To Nearby Cities
| Lawrence | $487K | $550K | +12.9% |
| Wilmington | $674.9K | $740K | +9.6% |
| Tewksbury | $587.3K | $620K | +5.6% |
| Andover | $850K | $886K | +4.2% |
| North Andover | $700K | $710.8K | +1.5% |
Housing Supply in Andover, MA
How many homes are available in Andover, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 107 | 122 | +14.0% |
Summary: The Andover real estate market had 122 homes for sale in October 2024, a 14.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 12 | 0.0% |
| 2 Bedrooms | 8 | 11 | +37.5% |
| 3 Bedrooms | 28 | 26 | -7.1% |
| 4 Bedrooms | 40 | 47 | +17.5% |
| 5+ Bedrooms | 19 | 26 | +36.8% |
Summary: The Andover housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 37.5%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 17.5%, and 5+ bedroom homes increased by 36.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 35 | +52.2% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Andover, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in Andover in October 2024, up by 52.2% month-over-month. Of the 35 sold homes, 23% were sold under asking, 6% were sold at asking, and 71% were sold over asking.
Days on Market for Andover, MA
How long does it take to sell a home in Andover, MA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 26 Days | -38.0% |
Summary: Homes in Andover had an average of 26 days on market in Oct 2024, down by 38% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Andover are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 35 homes were sold in Andover; 74% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
