$7,707 Closing Credit*
$649,000
2,940 SqFt
3 Beds
•2 Full Baths
Listing Office: BHHS FOX & ROACH
Is Andover, NJ 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 Neutral Market.
Key Takeaway
Andover is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Andover, NJ
How much do homes in Andover, NJ cost?
Median Sold Price
$515,000
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$85,000(+19.8%)
Key Takeaway
Homes in Andover have sold for 19.8% more than they did a year ago.
Summary: The median home sold price in Andover was $515,000 in October 2024, up 19.8% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $302.5K | $319K | +5.5% |
| 3 Bedrooms | $409.9K | $424.9K | +3.7% |
| 4 Bedrooms | $530K | $617.5K | +16.5% |
| 5+ Bedrooms | $620.5K | $890K | +43.4% |
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 5.5%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 16.5%, and 5+ bedroom homes increased by 43.4%.
Median Sold Price Compared To Nearby Cities
| Andover | $430K | $515K | +19.8% |
| Byram Township | $440K | $481.5K | +9.4% |
| Andover Township | $420K | $440K | +4.8% |
Housing Supply in Andover, NJ
How many homes are available in Andover, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 30 | +11.1% |
Summary: The Andover real estate market had 30 homes for sale in October 2024, a 11.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
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 remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Andover, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Andover in October 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Andover, NJ
We’re sorry, we don't have information for this market at the moment
