Andover First-Time Homebuyer Report for October

Andover is a city that is growing faster than others in Massachusetts at a 10-year growth rate of 13.1%. It also has a larger than average population of 8,762 people. Andover is made up of homes that are considered older than most with a median of 61 years. The top schools in the city are Bancroft Elementary School, Wood Hill Middle School, and Andover High School.


According to Foursquare, Whole Foods Market, CVS/pharmacy, and Andover Bookstore are the most popular retail spots in Andover. Great outdoor attractions are Andover Commons and Planet Fitness. You could also go see the popular Collins Center and Addison Gallery Of American Art if you're interested in arts and entertainment.

Price Range

Andover has some of the more expensive homes in the state with a median home value of $481,300 and a current average list price of $570,896. The Andover market pulled back this week but remained above average levels as sales fell 16.7% to 10 homes sold over the last 30 days.

Wonder which homes are generating the most buzz? Here are the most viewed listings in Andover:

$3.2M   $2.6M   $600K  

Typical Dwelling

A three-bedroom detached home valued around $496,560 is considered a typical dwelling in Andover. If a buyer was looking for a similar home, they would need good credit and a $99,312 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $2,175 and the property tax rate is $11.64 per $1,000 of taxable assessed value.

Get started right now by checking out Andover homes for sale or reviewing Andover real estate trends.

Data reported through 10/13/2016


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