Andover MN | Video Update on 2018 Housing Market

Here's a quick video update on real estate sales statistics in Andover Minnesota for the year ending 2017; and what might be expected in this Anoka County housing market as we head into the Spring 2018.




If you have additional questions on selling or buying a home in Andover, Minnesota, please call or message me directly. I am always happy to answer questions on real estate and the housing market.

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What is my Andover Minnesota Home Worth?

READY to Make YOUR Move? It IS essential to have a knowledgeable agent at your side. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of BOARDMAN Realty, a call at 651-336-7073 or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
 
Copyright 2018 terieckholm.com

Andover MN | 2018 Housing Market Update Snapshot of Home Sales Statistics

The Andover, Minnesota real estate market is quite strong as we start of 2018.  Closed sales were almost equal in 2017 compared to the previous year in spite of a significant drop in new properties listed. This continued lack of inventory across the Twin Cities metro keeps the home sellers in the driver’s seat of the housing market. There is an abundance of new home construction and developments popping up all over Andover. Many of these are high end executive homes on acreage but there are also some mid-range communities that are available for move up buyers to consider. With all this new construction, it is no surprise that the percent received of original listing price is up too. New homes always cost a bit more per square foot than existing homes. In 2017, the average sales price of a home in Andover MN rose again from just over $280K to nearly $307K! This is a nearly 10% increase in average sales price. Likewise the average price per square foot in Andover rose from $123/sq ft in 2016 to an average of $132/sq ft in 2017. Interestingly, the amount of days on the market ticked up last year. This is to be expected since many builders list their model home but do not sell this property for several months as buyers choose to design their own floor plan, lot and finishings. It took an average of 61 days to sell an Andover home in 2017 which is still just 2 months. This is significantly less time than just a few years ago.

With inventory low and demand high, sellers will find 2018 a good year to list their Andover homes. Existing home inventory levels are low for homes in this growing Anoka County community. It appears to be a seller’s market, where sellers have the negotiating advantage. Home buyers are actively out in full force searching for their dream homes right now in Andover. Home owners considering selling in 2018 and hoping to get the most leverage from the low housing inventory should consider listing their homes now. Once the spring market really cranks up and builders get the new models ready for the Spring Parade of Homes, there will be additional competition which could turn balance the Andover housing market again.

Need more information on the Andover housing and real estate market?  Message Me on Facebook

What is my Andover Home Worth?

READY to Make YOUR Move? It IS essential to have a knowledgeable agent at your side. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of BOARDMAN Realty, a call at 651-336-7073 or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
 
Copyright 2018 terieckholm.com

Snapshot of Home Sales Statistics in Andover, MN Year End 2015

Overall the Andover real estate market continues to remain strong.  Closed sales are up once significantly but there was a drop in new listings. This lack of inventory is putting home sellers in the driver’s seat of the housing market Closed sales are up nearly 20% .Since there are several new home construction developments in Andover it is no surprise that the percent received of original listing price is up too. New homes always cost a bit more per square foot than existing homes. In 2015, the average sales price rose again from almost $254K to nearly $267K! This is up $50,000 from just 3 years ago! Likewise the average price per square foot in Andover rose from $94/sq ft in 2012 to an average of $113/foot in 2015. Another sign that the market has turned is the drop in days on the market. It took an average of 88 days to sell an Andover home in 2014 but less than 70 days to sell on average in 2015. This is less than half of the time it took to sell an Andover MN, home just a few years ago.

With inventory low and demand high, sellers will find 2016 a good year to list their Andover homes. Existing home inventory levels are low for homes in this growing Anoka County community. It appears to be a seller’s market, where sellers have the negotiating advantage as we begin 2016. With continued low interest rates, home buyers are out in full force searching for their dream homes. Home owners considering selling in 2016 and hoping to get the most leverage from the improved market should consider listing their homes before the spring market really cranks up which will bring in additional competition no doubt.  

What is my Andover Home Worth?

READY TO MAKE A MOVE? Let me be your professional guide. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of Boardman Realty, a call or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District. Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
 
Copyright 2016 terieckholm.com

2009 Year End Snapshot of Andover Market Statistics

Closed sales are up once again in Andover in 2009. A 21% increase of closed sales shows that homes are selling again in this Anoka County suburb. However, the down side is that average price has dropped again by almost 11%. An average sale in Andover is just under $220,000 down by 8.7%. This is probably a combination of the trend for many lender-mediated sales with few high valued homes sold this past year anywhere in the Twin Cities metro. A good point is that in this Anoka County community is time on the market has stayed flat this year. While it would be better to see homes start to sell more quickly as many neighboring communities did, it is still good that the market time did not increase in 2009. Home buyers can still view Andover as one of the affordable options in the Twin Cities north metro!

Copyright 2010 Teri Eckholm