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ANDOVER Real Estate Market Trends: Week of September 28th, 2015

By
Real Estate Agent with LAER Realty Partners
ANDOVER Real Estate Market Trends:
 Week of September 28th, 2015

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.

Here is a snapshot of real estate market for single family homes and condo/townhouses in ANDOVER, MA for the week of September 28th, 2015. (Source: AltosResearch).

Week of September 28th, 2015 Single Family Homes Condo/Townhouse
Median List Price $745,950 $554,900
Average List Price $861,789 $563,859
Average Days on Market 104 117
No. of Homes On Market 118 32
Median House Size 3,305 sq ft. 2,212 sq ft.
Market Action Index

33.9 -  Seller's Advantage

38.4 -  Seller's Advantage

Data provided by ©2005-2014 Altos Research LLC.

The median list price in ANDOVER, MA for single family homes this week is $745,950. The 118 properties have been on the market for an average of 104 days. The asking price per square foot is $236.

The median list price in ANDOVER, MA for condo/townhouse this week is $554,900. The 32 properties have been on the market for an average of 117 days. The asking price per square foot is $258.

SEARCH ALL AVAILABLE ANDOVER HOMES FOR SALE, LIKE I DO!

Comments (10)

Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Thank you for taking the time to provide us with this in depth real estate market insight and report!  This really is excellent information for buyers and sellers alike!  Thanks so much Praful Thakkar.

Oct 08, 2015 12:44 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Praful excellent market report.  I would like to see us here in Ct start to move more towards a Sellers Market like you guys are in.

Oct 09, 2015 09:37 AM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks a lot for stopping by Jim Crawford - appreciate your kind words.

Oct 11, 2015 02:48 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Yes, Market is hot in Andover - though it is much more stable than what it was in spring and summer of 2015.

Oct 11, 2015 02:49 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Single Family Homes are almost in a balanced market (Market Action Index of 33.9 leans towards more balanced market.).

Oct 11, 2015 02:49 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Condos in Andover are still more in demand compared to single family homes.

Oct 11, 2015 02:50 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Overall days on market and inventory are alomost identical for both - single family homes and condos.

Oct 11, 2015 02:50 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

You can see the price differntial is not much between single family homes and condos.

Oct 11, 2015 02:51 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

So is true for Average List Price - condos are almost equally priced as single family homes.

Oct 11, 2015 02:52 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

George Souto I am sure the prices like this move down to your area - like fall colors moving East to West....lol.

Oct 11, 2015 02:52 PM