North Andover Real Estate Market Update
What’s New:
The North Andover real estate market saw 10 new properties come on the market this week, including 4 single-family homes and 6 condominiums. New listings ranged from approximately $275,000 to $1.100,000, giving buyers a fresh group of homes to consider.
Beyond the new listings, it’s also helpful to look at the bigger picture. Current inventory, recent sales, price changes and homes going under agreement can tell us much more about the direction of the local market.
Here’s a look at what’s happening in North Andover this week.
New Listings in North Andover This Week
The following properties were newly listed for sale in North Andover during the past week.
Single-Family Homes
- 55 Turtle Ln North Andover MA – $1,099,000
- 51 Bucklin Rd North Andover MA – $824,900
- 135 Candlestick Rd North Andover MA – $1,279,000
- 196 Middlesex St North Andover MA – $749,900
Condominiums
- 58 Edgelawn Ave #8 North Andover MA – $275,000
- 175 Cortland Dr North Andover MA – $899,000
- 230 Chickering Rd #12 North Andover MA – $299,900
- 156 Kingston St North Andover MA – $409,900
- 10 Harkaway Rd North Andover MA – $469,900
- 72 E Water St North Andover MA – $474,900
These links provide the current listing information, photos and property details available through the MLS.
Inventory can change quickly. Some properties may receive offers shortly after being listed, while others may remain available longer.
View All Homes for Sale in North Andover
North Andover Market by the Numbers
New listings are only one part of the North Andover real estate market. Looking at overall activity provides better context for both buyers and sellers.
This Week’s Market Snapshot
- New listings: 10
- Single-family homes currently for sale: 35
- Condos currently for sale: 16
- Average days on market: 35
These numbers provide a quick snapshot of current activity. However, the numbers become more useful when we compare them with what has been happening over the previous several weeks.
What’s Happening With Inventory?
We may see overall inventory increase while the number of homes available within a certain price range remains limited. That can create very different market conditions depending on what a buyer is looking for.
A buyer searching below $700,000 may be experiencing a completely different market from someone searching above $1 million.
That’s one reason town-wide statistics don’t always tell the entire story.
Randy’s Local Market Take
Inventory increased slightly this week, but choices remain limited for buyers looking for single-family homes below $800,000. Several of the new listings entered the market at higher price points, which added to the total inventory without significantly changing the options available to buyers at the lower end of the market.
I’m also watching the number of price reductions. An increase doesn’t necessarily mean home values are falling. In many cases, it can indicate that sellers are adjusting asking prices after testing the market.
The next few weeks should give us a better idea of whether inventory continues to build or begins to level off.
What Should Buyers Watch This Week?
For buyers, new inventory creates opportunity.
If more homes are coming on the market, there may be less pressure to make a decision immediately. However, desirable properties can still attract attention quickly.
Buyers should pay particular attention to:
- New listings within their price range
- Recent price reductions
- Days on market
- Comparable recent sales
- Properties returning to the market
- Changes in available inventory
Don’t assume every property will receive multiple offers. At the same time, don’t assume a slower overall market means every seller is ready to negotiate.
Real estate conditions can vary considerably by property and price range.
What Should Sellers Watch This Week?
Sellers should pay close attention to the competition.
If three similar homes come on the market in the same week, buyers suddenly have choices they didn’t have a week earlier.
Pricing and presentation become especially important when inventory increases.
On the other hand, a home entering a price range with very little competition may be in a stronger position.
Before setting an asking price, sellers should look at more than recently sold homes. It’s also important to understand what buyers will see when they search for competing properties today.
Following the North Andover Market Week by Week
One week of housing data doesn’t establish a trend.
However, following the numbers over time can reveal changes that aren’t always obvious from individual listings.
Over the coming weeks, I’ll be watching:
- New inventory
- Price reductions
- Days on market
- Pending sales
- Closed sales
- Changes within different price ranges
Following these numbers should give us a clearer picture of where the North Andover real estate market is heading.
It can also help buyers and sellers make decisions based on what is actually happening locally rather than relying only on national real estate headlines.
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Condos for Sale in North Andover
The North Andover real estate market changes every week. Check back for the latest new listings, sales activity, inventory changes and local market observations from Tibbetts Real Estate Group.
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Thinking about moving to North Andover? Contact Randy Tibbetts for local market insights, neighborhood information, and personalized assistance with your home search.
Randy Tibbetts is an independent real estate broker providing professional residential & commercial real estate services in MA
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