Single-family house costs in Andover, Massachusetts, rose by double digits in the course of the first 4 months of the 12 months, outpacing neighboring North Andover, Massachusetts, based on a gross sales evaluation by the Massachusetts Affiliation of Realtors.
The median house worth in Andover jumped 13 % to greater than $1 million from January to April, whereas costs in North Andover fell practically 5 % to $764,000 12 months over 12 months.
Cities in Essex County noticed common worth will increase in April in comparison with April 2023. Andover house costs rose 12 % to greater than $949,000, whereas North Andover’s median worth jumped 18 % to $945,000.
In contrast to different actual property markets in Higher Boston, the stock of houses in Andover and North Andover elevated, a constructive growth for house patrons who may afford the town’s costs. Andover’s single-family provide elevated 22 % in April, and 9 % extra condos had been accessible in comparison with April 2023. North Andover had 14 % extra homes and 120 % extra condos.
Regardless of the event of property, each villages had homes for just one to 2 months. About 5 to 6 months of stock is taken into account a balanced marketplace for house patrons and sellers.
The next detailed knowledge was compiled by MAR, evaluating the Andover and North Andover actual property markets.
12 months-to-Date Information Comparability (January to April)
Single Household Properties
- Closed Gross sales
- Andover: 40 in 2024, up from 36 in 2023 (+11.1 %)
- North Andover: 28 in 2024, down from 31 in 2023 (-9.7%)
- Common Promoting Worth
- Andover: $1,026,610 in 2024, up from $908,500 in 2023 (+13.0 %)
- North Andover: $764,000 in 2024, down from $799,900 in 2023 (-4.5%)
- New Listing
- Andover: 90 in 2024, up from 68 in 2023 (+32.4 %)
- North Andover: 52 in 2024, up from 51 in 2023 (+2.0 %)
- Share of Precise Listing Worth Obtained
- Andover: 100.1% in 2024, up from 99.5% in 2023 (+0.6% on common)
- North Andover: 102.3 % in 2024, up from 100.9 % in 2023 (+1.4 % on common)
Condominium buildings
- Closed Gross sales
- Andover: 16 in 2024, down from 22 in 2023 (-27.3%)
- North Andover: 33 in 2024, down from 34 in 2023 (-2.9%)
- Common Promoting Worth
- Andover: $377,500 in 2024, up from $376,000 in 2023 (+0.4 %)
- North Andover: $430,000 in 2024, up from $402,300 in 2023 (+6.9 %)
- New Listing
- Andover: 35 in 2024, up from 34 in 2023 (+2.9 %)
- North Andover: 49 in 2024, up from 40 in 2023 (+22.5 %)
- Share of Precise Listing Worth Obtained
- Andover: 102.4% in 2024, up from 101.8% in 2023 (+0.6% on common)
- North Andover: 100.3 % in 2024, down from 102.1 % in 2023 (1.8 % on common)
April knowledge comparability
Single Household Properties
- Closed Gross sales
- Andover: 10 in April 2024, down from 11 in April 2023 (-9.1 %)
- North Andover: 9 in April 2024, down from 11 in April 2023 (-18.2 %)
- Common Promoting Worth
- Andover: $949,110 in April 2024, up from $847,000 in April 2023 (+12.1 %)
- North Andover: $945,000 in April 2024, up from $799,900 in April 2023 (+18.1 %)
- Share of Precise Listing Worth Obtained
- Andover: 106.4 % in April 2024, up from 104.5 % in April 2023 (+1.8 % on common)
- North Andover: 103.0 % in April 2024, up from 100.8 % in April 2023 (+2.2 % on common)
- Actual Property Listings
- Andover: 33 in April 2024, up from 27 in April 2023 (+22.2 %)
- North Andover: 16 in April 2024, up from 14 in April 2023 (+14.3 %)
Condominium buildings
- Closed Gross sales
- Andover: 7 in April 2024, up from 5 in April 2023 (+40.0 %)
- North Andover: 16 in April 2024, from 5 in April 2023 (+220.0 %)
- Common Promoting Worth
- Andover: $400,000 in April 2024, up from $285,000 in April 2023 (+40.4 %)
- North Andover: $430,000 in April 2024, up from $350,000 in April 2023 (+22.9 %)
- Share of Precise Listing Worth Obtained
- Andover: 100.3 % in April 2024, down from 105.6 % in April 2023 (-5.0 % on common)
- North Andover: 100.1 % in April 2024, down from 102.5 % in April 2023 (-2.3 % on common)
- Actual Property Listings
- Andover: 12 in April 2024, up from 11 in April 2023 (+9.1 %)
- North Andover: 11 in April 2024, from 5 in April 2023 (+120.0 %)
For extra data on the actual property market, go to the “Actual Property Market” part of our weblog.
