Andover, Minnesota, continues to experience dynamic shifts in its housing market, reflecting broader regional trends and local developments. For residents and prospective homeowners, understanding these changes is crucial for making informed decisions.
Current Housing Market Trends
As of March 2026, the median sale price for homes in Andover stands at $430,000, marking a 2.3% decrease from the previous year. Homes are selling faster, with an average of 15 days on the market compared to 16 days last year. The number of homes sold has increased by 23.8%, with 26 homes sold in March 2026, up from 21 in March 2025.
In contrast, Zillow reports an average home value of $446,000 in Andover, reflecting a 2.0% increase over the past year. Homes typically go pending in around 14 days.
Rental Market Overview
The rental market in Andover presents limited options, with only four rental listings currently available. The median rent is $2,250 per month, a 15.73% decrease from the previous year.
New Residential Developments
Andover is witnessing new residential developments aimed at accommodating the growing population. The Fields of Winslow Cove – Lifestyle Villa Collection offers new single-family homes ranging from 1,487 to 1,968 square feet, with prices between $424,000 and $636,000.
The city’s official website provides an interactive map detailing recent residential developments, offering insights into the types and number of lots available.
Conclusion
Andover’s housing market is characterized by a mix of declining median sale prices and increasing home values, coupled with a competitive rental landscape and ongoing residential developments. Staying informed about these trends is essential for residents and potential buyers navigating the local real estate market.