$7,124 Closing Credit*
$599,900
1,485 SqFt
2 Beds
•2 Full Baths
#73319468, Serene Knell, Listing Office: Simply Sell Now.com
Is Andover, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$381/sqft
Based on all homes sold in the last 12 months.
Difference Since November 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 November 2024, up 4.2% from last year, and the median price per square foot was $381.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $322K | $293.5K | -8.9% |
| 2 Bedrooms | $365K | $457.5K | +25.3% |
| 3 Bedrooms | $722K | $785K | +8.7% |
| 4 Bedrooms | $1.0M | $1.1M | +5.1% |
| 5+ Bedrooms | $1.2M | $1.4M | +18.0% |
Summary: Andover housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.9%, 2 bedroom homes increased by 25.3%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 18%.
Median Sold Price Compared To Nearby Cities
| Lawrence | $487K | $555K | +14.0% |
| Wilmington | $675.5K | $729.9K | +8.1% |
| Tewksbury | $582.5K | $621.6K | +6.7% |
| Andover | $850K | $886K | +4.2% |
| North Andover | $700K | $722.4K | +3.2% |
Housing Supply in Andover, MA
How many homes are available in Andover, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 119 | 88 | -26.1% |
Summary: The Andover real estate market had 88 homes for sale in November 2024, a 26.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 6 | -45.5% |
| 2 Bedrooms | 12 | 9 | -25.0% |
| 3 Bedrooms | 26 | 19 | -26.9% |
| 4 Bedrooms | 47 | 34 | -27.7% |
| 5+ Bedrooms | 23 | 20 | -13.0% |
Summary: The Andover housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 45.5%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 26.9%, 4 bedroom homes decreased by 27.7%, and 5+ bedroom homes decreased by 13%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 26 | -25.7% |
Asking Price vs. Sold Price
11 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 Andover, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in Andover in November 2024, down by 25.7% month-over-month. Of the 26 sold homes, 42% were sold under asking, 8% were sold at asking, and 50% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 24 Days | 28 Days | +13.6% |
Summary: Homes in Andover had an average of 28 days on market in Nov 2024, up by 13.6% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
5 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 November 2024, 26 homes were sold in Andover; 77% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
