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Andover, MA Real Estate News

By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
Here's Andover's Stats for week ending 12/25/2010 - Single family Homes (Data Source: MLSPIN) # of homes sold - 5 Average Sale Price: $343,580 sold at 92% of original asking price Median Price: $295,000 # of Days on market: 252 Total Volume: $1.717M Not bad for this time of the year.  
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By Lynda Longmire
(Virtual Homes Real Estate)
    Andover MA Real Estate Market Reports for 2010 Quarter 2 Andover Single Family Home Sales The Andover, MA 2nd quarter real estate market report indicates that there were 77 homes sold in Q2 2010 as compared to 80 in 2009. This represents a 4% decrease in the number of homes sold. The average sales price changed from $554,141 in 2009 to $581,345 in 2010, a 5% increase in value. The days on market changed -27 % from 113  to 82. Visit Andover MA real estate for information about the community, relocation, demographics, MLS search, home buying and selling guides. Go to Andover MA homes for sale to view current listings of homes, condos, multi-family and land listings.   Andover Condominium Sales Andover, MA condominium market data indicates that there were 20 condos sold in the second q...
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By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
Welcome to Ralph's Weekly Feature: Two Truths and a Lie: Guess Which One Is The Lie? Each week, I'm going to feature one Active Rain Member, with their photo, and what they are going to do is tell you 2 Truths about them and 1 Lie. The object of the game is to guess which of the 3 bits of trivia about them is a lie! I will post the answer in that same blog at the end of the week on Fridays so you can all find out! It's a great way to get to know your fellow Active Rain members and staff. This week, we will be featuring: Praful Thakkar Praful is a real estate professional with Remax Partners in the  Andover, MA area. OK, Here goes:   I have an chemical engineering degree from one of the best technology universities of India. I worked in IT industry for twenty years before I opted for Re...
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
Not much graphics this time - simple stats for Andover, MA for condos and multi-family for the week ending 12/5/2010 (Data Source: MLSPIN)  Well no condos were sold last week - so here is Multi-family sale information Total Market Volume: $595,000 No of homes sold : 1 Average Sale Price : $595,000, 99% of asking Median Price: $595,000 Days on Market : 56 Not Bad!
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
Not much graphics this time - simple stats for Andover, MA for the week ending 12/5/2010 (Data Source: MLSPIN)   Total Market Volume: $7.83M No of homes sold : 12 Average Sale Price : $652,283, 99% of asking Median Price: $640,500 Days on Market : 48      
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
As I prepare the monthly report for different towns, here is November 2010 snapshot for single family sales in Andover, MA (Data Source: MLSPIN) Here it is... For November, 23 units sold at an average price  of $548,630 and median price of $515,000 days on market were 71 and the final sale price was 95% of the original asking price!
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
As I prepare the monthly report for different towns, here is November 2010 snapshot for condo sales in Andover, MA (Data Source: MLSPIN) Here it is...   So far in November, only 2 units sold this month at an average price  of $145,000 and median price of $145,000 days on market were 111 and the final sale price was 77% of the original asking price!
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
As I prepare the weekly report for different towns, here is YTD 2010 snapshot for all other type of home sales in Andover, MA - multi family, land, mobile homes, rental etc. (Data Source: MLSPIN) Here it is... So far this year, 20 units sold at an average price  of $324,693 and median price of $295,000 days on market were 211 and the final sale price was 80% of the original asking price!
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
As I prepare the weekly report for different towns, here is YTD 2010 snapshot for single family sales in Andover, MA (Data Source: MLSPIN) Here it is... So far this year, 250 units sold at an average price  of $586,422 and median price of $521,500 days on market were 101 and the final sale price was 94% of the original asking price!
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
As I prepare the weekly report for different towns, here is YTD 2010 snapshot for condo sales in Andover, MA (Data Source: MLSPIN) Here it is...   So far, 59 units sold at an average price  of $280,164 and median price of $235,000 days on market were 135 and the final sale price was 92% of the original asking price!
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
  This is the activity report for Andover, MA for the week of November 15th, 2010. (Data Source: MLSPIN)   New listing : 5 (average sale price: $545,720) (with one re-listed) Price Changes: 7 (average price change: -2.69%) Pending and Under Agreement: 5 (average price: $412,990) Sold: 9 (average sale price: $410,611, sold at 91% of original asking price) Expired Listings: 5    
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
This is the activity report for Andover, Ma for the week of November 8th, 2010. (Data Source: MLSPIN) New listing : 8 (average sale price: $339,775) Price Changes: 5 (average price change: -2.11%) Pending and Under Agreement: 7 (average price: $566,900) Sold: 6 (average sale price: $533,833, sold at 92% of original asking price) Expired Listings: 2      
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
Here is the market snapshot of single family home sales in October 2010 for Andover, MA. Total volume for Andover, MA for October 2010: ~$11.7M ($11.5M in September 2010 ) Number of days on market: 102 ( 53 in September 2010 - a couple of quick sales made the difference) Median Price: $510,000 ($518,000 in September 2010) Average Price: $614,563 ($575,500 in September 2010) Total units sold: 19 (20 in September 2010) So, if at all if we have to say anything about this market - no slowdown this month - in fact, Andover real estate still rocks!
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
Here is the market snapshot for condo sales in October 2010 for Andover, MA. (Data Source: MLSPIN) As you can see, the days on market are 128 for condos (more than that for single family homes) and are up from September 2010 - signs of fall/winter market? The total number of units sold - 7, average price $266,071 - thanks to couple of sales in $500K range. (October 2009 average price - $270,370). The reality is reflected in median price - $224,000, up from October 2009 - $182,950! OVerall, what we see at this time of the year - even when total condo volume is only $1.9M, ($2.7M in October 2009), other factors remain the same.
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
  So..it's time to talk about what happened in Real Estate Market of Andover in September 2010 (exclusively for condos - courtesy: MLSPIN)... Here are some details...   It is evident that most activities occured in less than $350,000 price range but there are couple of them sold above $800K mark - and one over $900K sold in 3 days! Hats off to you Andover! And if you look at average days on market - over 100! (well, condos do need more time to sell!) If I run the last 90-day stats (courtesy - AltosResearch) Overall - good signs for Andover Condos. So, this is a snapshot of Andover Real Estate Market - Condos Sold in September 2010.
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
  So..it's time to talk about what happened in Real Estate Market of Andover in September 2010... Here are some details...   It is evident that most activities occured in $350,000 to $700,000 price range. And if you look at average days on market - only 56! Median price sounds little too low - if I run the last 90-day stats (courtesy - AltosResearch) Overall - good signs for Andover.
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The worst thing a seller can do is over price a home especially in a buyers market. Everyone believes there house is unique and better than their neighbors but, pricing a home isn’t rocket science. Many things come into play when determining a price however there’s only a few that really matter. Location, condition, square footage, and resent sales of comparable homes. The advantage of pricing your house right is that the fewer times you reduce the price, the less time its on the market, the lesser of a possibility of a stigma won’t be placed on the house as to “what’s wrong with that place". ________________________________________________________________________________________________________________________ About the Me: The above Real Estate information was provided by Greg Afarian...
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
How is the market for Andover Real Estate? Let me share some of the charts (Courtsy: AltorsResearch) and discuss what is happening in Andover Real Estate Market. This chart clearly indicates that even though inventory has increase in Andover in last 90 days, median sale prices are NOT falling - they are still going up ..up... and up... So, if you are waiting to buy in Andover, please don't wait.
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
This is the snapshot of Andover Condo Sales for the month of August 2010.   As you can see, the condos are sold at 93% of  the asking price. (Surprisingly, only 84% of the original asking  price or list price!) Only 4 condos sold in the month of August (Carry over from July? May be...but hope not!) At least average and median price looks little comfortable - in the range of $340K-$400K. Let's see what we have in store for this month!
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By Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale
(LAER Realty Partners)
This is the snapshot of homes sold in Andover (SINGLE FAMILY ONLY) for the month of August 2010. This was relatively an 'okay' month for Andover for single family home sales. Median price still in mid 500s and average price in mid 600s is a good indicator of next few months for Andover. Average days on market - only 68! That means for single family homes, only little over 2 months to get an offer - as long as priced right. The best part is sale price is 97% of the list price. Looks like all Andover broker/agents are listing the home at right price! Let's what is in store for next month!
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