)
Andover Real Estate Market Report for March 2014
The bad weather is actually delaying our spring market situation
which officially begins after the school break in February so we’re now in Spring Market.
We see that the inventory of single-family homes is down at 55 units available for sale, down almost 18% from last year and it’s pretty much flat from February.
We see the sales in the past three months (December, January and February) in Andover up 15% to 52 units. That’s a good sign! We see the median sale price in the homes that are selling up 8.5% year-over-year to $564,500.
On the condominium side, we see inventory actually spiking, we see 37 units
up for sale and that’s up a big 37% from last year at this time. Also condo sales are up 26% with 19 units closing in this period as well versus last year. So, with condominiums we see more inventory coming on and sales are keeping up pace with inventory, which is nice.
The median price of a condo in Andover is $215,500. This doesn’t mean too much because in Andover we have quite a difference in range of value with condominiums, we have very high end condos at the country club and we have average to moderate condos elsewhere in the community. So, for this reason, we don’t read too much into that number.
We’d love to help you with buying or selling real estate in Andover, call us at (978)494-0346
