$5,780 Closing Credit*
$486,745
1,862 SqFt
3 Beds
•1 Full Bath
Listing Office: Lennar Sales Corp
Is Andover, MN 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, MN
How much do homes in Andover, MN cost?
Median Sold Price
$450,833
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$11,050(+2.5%)
Key Takeaway
Homes in Andover have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Andover was $450,833 in November 2024, up 2.5% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $183K | -1.1% |
| 2 Bedrooms | $339K | $367.5K | +8.4% |
| 3 Bedrooms | $390.2K | $390K | -0.1% |
| 4 Bedrooms | $450K | $475K | +5.6% |
| 5+ Bedrooms | $567.5K | $551K | -2.9% |
Summary: Andover housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.1%, 2 bedroom homes increased by 8.4%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 2.9%.
Housing Supply in Andover, MN
How many homes are available in Andover, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 170 | 179 | +5.3% |
Summary: The Andover real estate market had 179 homes for sale in November 2024, a 5.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 66 | 74 | +12.1% |
| 4 Bedrooms | 72 | 73 | +1.4% |
| 5+ Bedrooms | 26 | 25 | -3.8% |
Summary: The Andover housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 3.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 31 | -26.2% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Andover, you may be able to get a good deal. 35.5% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in Andover in November 2024, down by 26.2% month-over-month. Of the 31 sold homes, 35% were sold under asking, 32% were sold at asking, and 32% were sold over asking.
Days on Market for Andover, MN
How long does it take to sell a home in Andover, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 31 Days | +7.9% |
Summary: Homes in Andover had an average of 31 days on market in Nov 2024, up by 7.9% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were 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, 31 homes were sold in Andover; 65% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
