Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of October 8th, 2012. (Source: AltosResearch)
|For Week of October 8th, 2012|
|Average List Price||$780,587|
|Average Days on Market||132|
|Number of Homes On Market||126|
|Median House Size||3,000 sq ft.|
|Market Action Index||16.6 - 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.
Inventory has been tightening and days-on-market increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.
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.