Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of October 15th, 2012. (Source: AltosResearch)
|For Week of October 15th, 2012|
|Average List Price||$785,300|
|Average Days on Market||136|
|Number of Homes On Market||124|
|Median House Size||3,000 sq ft.|
|Market Action Index||16.5 - 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 decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the 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.