Is North Andover, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, North Andover has remained a Seller's Market.
Housing Prices in North Andover, MA
How much do homes in North Andover, MA cost?
Median Sold Price
$712,500
$332/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in North Andover was $712,500 in May 2024, up 3.7% from last year, and the median price per square foot was $332.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $240K | $263.5K | +9.8% |
2 Bedrooms | $400K | $430K | +7.5% |
3 Bedrooms | $628.7K | $640K | +1.8% |
4 Bedrooms | $925K | $950K | +2.7% |
5+ Bedrooms | $962.5K | $1.1M | +16.9% |
Summary: North Andover housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.8%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 16.9%.
Median Sold Price Compared To Nearby Cities
Methuen | $512.7K | $549.7K | +7.2% |
Methuen Town | $514K | $549.7K | +6.9% |
Lawrence | $500K | $520K | +4.0% |
North Andover | $687K | $712.5K | +3.7% |
Boxford | $899.9K | $927K | +3.0% |
Housing Supply in North Andover, MA
How many homes are available in North Andover, MA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
79 | 95 | +20.3% |
Summary: The North Andover real estate market had 95 homes for sale in May 2024, a 20.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 23 | 23 | 0.0% |
3 Bedrooms | 27 | 30 | +11.1% |
4 Bedrooms | 25 | 34 | +36.0% |
5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The North Andover housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 36%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 23 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in North Andover in May 2024, the same as the previous month. Of the 23 sold homes, 17% were sold under asking, 4% were sold at asking, and 78% were sold over asking.
Days on Market for North Andover, MA
How long does it take to sell a home in North Andover, MA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 24 Days | +42.1% |
Summary: Homes in North Andover had an average of 24 days on market in May 2024, up by 42.1% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in North Andover; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.