Andover, MA Market Survey- Year to Date (As of September 30, 2009)

“Year to date” market reports compare homes and condominiums sold in 2007-2009.  For a complete view of market conditions, you must consider the third quarter comparisons as well.  Andover MA foreclosures are effecting the average selling prices for both single family and condominiums.  This report is not a reflection of all properties sold and is data compiled from the MA MLS (MLS Pin).  The information is not guaranteed to be accurate but will provide a fairly accurate representation of Andover, MA real estate activity.  To view homes and condominiums currently on the market visit Andover MA homes for sale. 

Single Family Homes Sold

The number of homes sold in 2009 (YTD) increased slightly over 2008 from 191 to 196.  The days on market declined from 117 to 109.  The average sales price declined slightly less than 4% from $602,601 to $579,306.  Activity during the third quarter of 2009 indicates a 16% increase in homes sold and an increase in average selling prices of 3%. 

Condominiums Sold

Market activity for condominiums sold in 2009 was substantially less than 2008 as units sold dropped from 54 to 38.  The average sales price increased from $261,786 to $280,711.  The third quarter activity indicate an increase in the average sales prices of 5% from $245,260 to $268,787.  If this trend continues in the fourth quarter, we may look to early 2009 as the bottom of the market.