Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of February 13th, 2012. (Source: AltosResearch)
||For Week of February 13th, 2012|
|Average List Price||$841,774|
|Average Days on Market||158|
|Number of Homes On Market||92|
|Median House Size||2,938sq ft.|
|Market Action Index||18.4 - Strong Buyer's|
Data provided by ©2011 Altos Research LLC.
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.
The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.