Andover Real Estate and Community Update for April 2014
Single-family home inventory in Andover is continually decreasing. There are 75 homes available on the market, that’s down 13.8% from last year at this time. Unit sales for the quarter ended up much better than last year, increased 12.5% to 45 sales taking place at a median sale price of $581,000, that’s up 3.5% over last year. Days on market are continuing to drop, taking 96 days to get an Andover home under agreement which seems like a long time. Watch your pricing, adjust to market feedback as quickly as possible. There are lots of buyers out there, and if you’re not getting your home sold quickly, within 30 days, you need to make adjustments.
Over on the condominium side, inventory is flat year over year, same amount of Andover condos available for sale this year than last year with unit sales up 35%, that’s 19 units being sold. Median sales price in Andover is $155,000 this quarter, which shows that thing at nothing large was sold over at the country club, just typical garden style units sold and that’s up 3%. Days on market for Andover condos is much faster, 69 days to get a deal in place, that’s down 20% year over year.
