North Andover Market Snapshot

Since real estate is local, I find that having a snapshot of data to look through is a good way to start to dissect the current state of the real estate market. The following snapshot is a look at some key metrics from the past 3 months, along with some interpretation to put the data into context.

In the past three months, there have been 30 single family homes sold in North Andover. Those sale prices ranged from $159,900 for a 2 bedroom 1 bath bungalow to $763,000 for a 5 bedroom, 3.5 bath colonial. If you compare that to the same timeframe from a year before, there were 27 percent more sales this year, a very good thing. This means more buyers are buying and we haven't even hit the midst of the spring selling season.

Currently, there are 118 homes on the market in North Andover. They range in asking price from $149,900 to $3,900,000. Of those, 17 homes are under agreement, nine are under contract and the average price of those listings are $615,360.

The average price is high, which means home values are strong in our town. The average time on market is 174 days, which is long; however, that number needs to have some explanation, as homes that are competitively priced are selling in a much shorter time period.

Overall, our market is strong. If you are considering a move, now is the time to put your home on the market. Open houses are drawing record numbers of viewers and activity is the strongest I've seen in years. As always, if you would like further clarification, please feel free to reach out. I'm at your service!

Lisa Sevajian Johnson is vice president of Coldwell Banker Residential Brokerage.