Year over year, Andover’s housing numbers show some mixed shifts. Typical home values are down about 8.65 percent, and inventory has fallen roughly 40.35 percent compared with last year. At the same time, homes are spending about 10 percent longer on the market, suggesting a bit more breathing room than a year ago.
Looking at the latest month, conditions lean clearly toward sellers. February’s typical home value was about $950,000, with a median list price near $1,037,450 and only 34 homes on the market, translating to roughly 2.3 months of supply. Homes went under contract quickly at a median of 22 days, and about 60 percent of sales closed above the asking price, with buyers paying an average of roughly 1.7 percent over list.
Short-term movement has been sharp, with typical values jumping about 46.15 percent month over month and list prices up around 66.55 percent, while days on market dropped more than 56 percent. Projections for March point to a typical home value around $1,100,000 and a median list price near $1,244,725, with inventory holding at about 34 listings, keeping Andover above Essex County’s current typical value of $625,000. With fewer new listings and pending sales each down more than 53 percent from last year, both buyers and sellers can benefit from Agent Pronto’s help in finding an agent who understands these fast-moving conditions.
