If you’ve been watching the real estate market closely, you’ve either been a happy home seller or a mildly frustrated home buyer. Multiple-offer situations continue to drive prices over asking in our region. A lack of inventory and an influx of home buyers of all types have continued to create one of the most contested home markets we’ve seen in decades. Three of the six homes that sold in Andover last month did so over asking price.

In the Kearsarge/Sunapee region, the average selling price from ‘19 to ‘20 jumped 27%! Days on the market are 17% faster and even in our small town of Andover, the list-to-sell ratio is 97%, compared to 96% regionally. 

To show how efficient this market is, consider that so far this year, 38 homes have been listed in Andover, and 37 have sold so far. Compare that to all of 2019: 37 to 32; and to all of 2018: 49 to 26.

There are currently no homes on the active market in Andover. With the average rent in Merrimack County, for a 3 bedroom at $1,479 (HUD), and Freddie Mac reporting all-time low interest rates, there are still many motivated and dedicated home buyers jumping at every opportunity, showing up at every open house, and writing offers.