A second-quarter sale of an 8,000-square-foot home in the Phillips Academy neighborhood for $3.6 million was the highest resale price for a home ever recorded in Andover.

Advisors Living in Andover said homes in Andover sold for an average of 12 percent above asking price during the three months ended June 30. The average sale price was $1.15 million, up 24.2 percent from the same period a year ago.

Economists expect the hot housing market to cool off, thanks to rising inflation and increased inventory. Realtor.com revised its 2022 inventory projection for Andover to 15 percent, up from just 0.2 percent earlier this year.

Sold Sign Board” by MarkMoz12 is licensed under CC BY 2.0.

close

Sign up to get news about Andover (and only news about Andover).

Start your morning with our daily newsletter delivered to your email inbox.

The Andover News newsletter is delivered every weekday morning by 9 a.m. We also send occasional breaking alerts as news conditions warrant.

We don’t spam or share your content! Read our privacy policy for more info.