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The real estate market for single-family homes in Andover, MA, continues to demonstrate its strength and desirability. With a total of 275 homes sold, this analysis provides an in-depth look at how listing prices compared to sold prices, highlighting market trends and performance across different neighborhoods. This report also showcases details of the highest and lowest sold properties, offering valuable insights for buyers, sellers, and investors.
Key Findings
- Average Price Trends:
- Average List Price: $1,050,000
- Average Sold Price: $1,090,000
- Percentage Sold Above List Price: 3.8%
- Number of Properties:
- Sold Above List Price: 120 homes
- Sold At List Price: 40 homes
- Sold Below List Price: 115 homes
- Highest Sold Home:
- Address: 4 Willoughby Lane, Andover, MA
- Sold Price: $3,200,000
- List Price: $3,350,000
- Style: Colonial
- Features: 7 bedrooms, 7 bathrooms, and over 11,000 sqft.
- Lowest Sold Home:
- Address: 40 Boston Road, Andover, MA
- Sold Price: $450,000
- List Price: $449,900
- Style: Ranch
- Features: 5 bedrooms, 2 bathrooms, and a charming yard.
Insights
- Market Favorability: The Andover market continues to show positive momentum, with numerous homes selling above their list price.
- Time on Market: Properties that sold above list price tended to spend fewer days on the market, indicating high demand for well-maintained homes in desirable locations.
- Highest vs. Lowest Comparison: While the highest sale reflects a luxurious property in a prime neighborhood, the lowest-priced home highlights the potential for budget-friendly investments with charm and convenience.
