Is Andover, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Andover has remained a Seller's Market.
Housing Prices in Andover, MA
How much do homes in Andover, MA cost?
Median Sold Price
$871,666
$369/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Andover was $871,666 in May 2024, up 2.5% from last year, and the median price per square foot was $369.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $302K | $325K | +7.6% |
2 Bedrooms | $417.5K | $448.5K | +7.4% |
3 Bedrooms | $739.9K | $737K | -0.4% |
4 Bedrooms | $972.5K | $1.1M | +13.1% |
5+ Bedrooms | $1.2M | $1.3M | +5.7% |
Summary: Andover housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes increased by 7.4%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 5.7%.
Median Sold Price Compared To Nearby Cities
Tewksbury | $576.6K | $607K | +5.3% |
Wilmington | $669.9K | $700K | +4.5% |
Lawrence | $500K | $520K | +4.0% |
North Andover | $687K | $712.5K | +3.7% |
Andover | $850.3K | $871.6K | +2.5% |
Housing Supply in Andover, MA
How many homes are available in Andover, MA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
105 | 139 | +32.4% |
Summary: The Andover real estate market had 139 homes for sale in May 2024, a 32.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 10 | -28.6% |
2 Bedrooms | 10 | 14 | +40.0% |
3 Bedrooms | 20 | 29 | +45.0% |
4 Bedrooms | 41 | 55 | +34.1% |
5+ Bedrooms | 20 | 31 | +55.0% |
Summary: The Andover housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 45%, 4 bedroom homes increased by 34.1%, and 5+ bedroom homes increased by 55%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 38 | +111.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Andover in May 2024, up by 111.1% month-over-month. Of the 38 sold homes, 21% were sold under asking, 5% were sold at asking, and 74% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 26 Days | +13.2% |
Summary: Homes in Andover had an average of 26 days on market in May 2024, up by 13.2% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 38 homes were sold in Andover; 84% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.