Massachusetts Home Buyer Guide

Andover, MA Home Prices Decline First Half of 2011

The median price and sales of single-family homes in Andover, Massachusetts both decreased in the first two quarters of 2011, according to data compiled using MLS Property Information Network, Inc, a local multiple listing service. 

The median price of single-family homes fell 7.2 percent in the first half of 2011 compared to the previous year, a difference of $37,000.  Single-family home sales in Andover, MA fell 6.3 percent in the first six months of 2011, a difference of eight sales compared to the previous year.  

In January through June 2011, the median price of condos jumps 26 percent, or $61,000 compared to the same period in 2010.  The increase in price apparently deterred condo buyers. Condominium sales fell 26.5 percent, a difference of nine sales.  

The median price of multi-family homes rose 25.5 percent in the first half of 2011 compared to the previous year, a difference of $65,000.  Sales of multi-family homes rose 50 percent in the first six months of 2011, a difference of only one sale compared to the same six-month period in 2010.


Andover, Massachusetts Real Estate Market Activity Report

                             Sales / Median Price 

Single family: 
Jan.-June 2010 – 127 / $512,000
Jan.-June 2011 – 119 / $475,000

Condominiums: 
Jan.-June 2010 – 34 / $235,000
Jan.-June 2011 – 25 / $296,000

Multi family:
Jan.-June 2010 – 2 / $255,000 
Jan.-June 2011 – 3 / $320,000

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Andover, Massachusetts Home Sales Increased, Median Price Declined in 2010

Sales of single-family homes in Andover, Massachusetts increased in 2010 while the median home price decreased slightly, according to data compiled using MLS Property Information Network, Inc, the local multiple listing service.

Single-family homes sales in Andover, MA increased 13.1 percent in 2010, a difference of 33 sales compared to 2009. The median price of single-family homes dropped 0.7 percent in 2010 compared to the previous year, a $3,500 difference.

The median price of condominiums increased 23.7percent, or $45,100 compared to 2009. Condo sales in Andover, MA dropped 12.3 percent in 2010, a difference of 9 sales.

Both sales and the median price of multi-family homes increased in 2010. Sales rose 20 percent compared to 2009, a difference of only one sale, while the median price rose 7 percent, a difference of $23,000.

Andover, Massachusetts Home Sales

          Sales / Median Price

Single-family Homes
2009 – 251 / $525,000
2010 – 284 / $521,500

Condominiums
2009 – 73 / $189,900
2010 – 64 / $235,000

Multi-family Homes
2009 – 5 / $327,000
2010 – 6 / $350,000

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Home Sales, Median Home Price Up In Andover, MA

The median price of single-family homes in Andover, MA in the first quarter increased by 4.6 percent, or $22,500, compared to the first quarter of 2009. Sales of single-family homes also increased in the first three months of 2010. Compared to Q1 of 2009, sales rose a significant 56.2 percent, an increase of 18 home sales.

Condominiums sales in Andover, Massachusetts also increased in the first quarter of 2010, although the median price declined. Sales increased by 75 percent, going from eight sales in the first quarter of 2009, to 14 sales in Q1 2010. The median price for an Andover condo dropped $22,000 or 10.3 percent in the first quarter of 2010 to $191,750.

In the first quarter of both 2009 and 2010, there were 2 Multi-family homes sold. The median price dropped 12.8 percent or by $37,500 in Q1 2010 compared to Q1 2009.

The data come MLS Property Information, Inc., the local multiple listing service.

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Massachusetts Names 'Green' Communities

Massachusetts Governor Deval Patrick named 35 cities and towns as the first official "Green Communities," The Boston Globe reported May 26, 2010.

These communities will be eligible to receive some of the $8.1 million in grants, as part of the Green Communities Act, that will be given out in late June. The money can be used towards “local renewable power and energy-efficiency projects.”

In order to be eligible, the towns and cities had to first meet five clean energy goals and follow strict guidelines. Some of the guidelines that must be followed include adapting new local zoning laws that encourage permitting to renewable energy projects, purchasing only fuel efficient vehicles for the municipal fleet, and following new energy-efficient building codes for all commercial properties and residential properties over 3,000 square feet.

The communities that are eligible include Acton, Arlington, Athol, Andover, Becket, Belchertown, Cambridge, Chelmsford, Easthampton, Greenfield, Hamilton, Hanover, Holyoke, Hopkinton, Kingston, Lancaster, Lenox, Lexington, Lincoln, Lowell, Mashpee, Medford, Melrose, Montague, Natick, Newton, Northampton, Palmer, Pittsfield, Salem, Springfield, Sudbury, Tyngsborough, Wenham, and Worcester.

Each community also will receive a Big Belly solar waste compactor.

Andover, MA Home Sales Up, Prices Down

The median price of single-family homes in Andover, Massachusetts has dropped each year since 2007. In 2009 the median price dropped nearly $25,000 compared to 2007, equal to a 4.5 percent drop in price. The median price from 2008 to 2009 changed by less than $5,000.

The number of sales over the past four years has fluctuated each year since 2006. Compared to 2008 there were five more sales in 2009, or a 2 percent increase in sales. Since 2006 sales of single-family homes in Andover, MA have declined 13.4 percent and by 18.7 percent from the number of 2007 home sales.

Over the past four years the amount of time homes spent on the market has declined in Andover. Since 2006 homes on average spent 21 days less on the market, or 16.3 percent less time. Compared to 2008, homes spent 6.9 percent less time on the market in 2009.

Andover, MA Real Estate Market Data

	Median Price	Number of Sales	Days on the Market
2006	$548,000	291	129
2007	$549,950	310	116
2008	$529,900	247	116
2009	$525,000	252	108

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Andover, MA Sales Slightly Up, Median Price Down

During the first nine months of the past four years, median prices of single-family homes in Andover Massachusetts have remained somewhat steady. The largest change was seen in 2009 when the median price of a home declined 3.7 percent from the same nine-month time period in 2008.

The number of homes sold in Andover, MA during the first nine months of the year has fluctuated each year. In 2007, single-family home sales increased 14.7 percent compared to 2006, but then in 2008, there was a 26 percent decrease in sales, or 67 less homes sold.  From 2008 to 2009 sales went from 191 to 196.

Single-family homes in Andover have been selling faster over the past four years during the same nine-month period.  In both 2007 and 2008 homes were selling 7.9 percent faster then in 2006.  In 2009 the average number of days homes spent on the market dropped again to 109 days.

The data come from the MLS Property Information Network, Inc.

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Andover, MA Real Estate Market Data

	Median Price	Number of Sales	Days on the Market
Jan-Sept 2006	$550,000	225	127
Jan-Sept 2007	$554,000	258	117
Jan-Sept 2008	$547,500	191	117
Jan-Sept 2009	$527,000	196	109