Here is a snapshot of real estate market for single family homes in NORTH READING, MA for the week of October 1st, 2012. (Source: AltosResearch)
|For Week of October 1st, 2012|
|Average List Price||$548,464|
|Average Days on Market||120|
|Number of Homes On Market||60|
|Median House Size||2,408 sq ft.|
|Market Action Index||15.6 - 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.
The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
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.