Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of February 2nd, 2015. (Source: AltosResearch).
| For Week of February 2nd, 2015 | |
| Median Price | $749,450 |
| Average List Price | $1,009,349 |
| Average Days on Market | 140 |
| Number of Homes On Market | 46 |
| Median House Size | 3.720 sq ft. |
| Market Action Index |
42.0 - Seller's Advantage |
Data provided by ©2005-2014 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 median list price in ANDOVER, MA this week is $749,450. The 46 properties have been on the market for an average of 140 days.
Inventory is tightening and days-onmarket is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller's market so watch for upward pricing pressure in the near future if the trend continues.
Median Price: We continue to see prices in this zip code at a plateau even though prices dipped this week. Look for a persistent change in the Market Action Index (up or down) before we see prices significantly deviate from these levels.
Price per Square Foot: While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers can see more home for their money.
Market Action Index: The ANDOVER, 01810 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 42.02 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.
Days on Market: The properties have been on the market for an average of 140 days. Half of the listings have come newly on the market in the past 91 or so days.
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