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Andover MN | 2018 Housing Market Update and Sales Statistics
 

The Andover, Minnesota real estate market is quite strong as we start of 2018.  Closed sales were almost equal in 2017 compared to the previous year in spite of a significant drop in new properties listed. This continued lack of inventory across the Twin Cities metro keeps the home sellers in the driver’s seat of the housing market. There is an abundance of new home construction and developments popping up all over Andover. Many of these are high end executive homes on acreage but there are also some mid-range communities that are available for move up buyers to consider. With all this new construction, it is no surprise that the percent received of original listing price is up too. New homes always cost a bit more per square foot than existing homes. In 2017, the average sales price of a home in Andover MN rose again from just over $280K to nearly $307K! This is a nearly 10% increase in average sales price. Likewise the average price per square foot in Andover rose from $123/sq ft in 2016 to an average of $132/sq ft in 2017. Interestingly, the amount of days on the market ticked up last year. This ... more

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