Here is a snapshot of real estate market for single family homes in NORTH READING, MA for the week of February 23rd, 2015. (Source: AltosResearch)
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| For Week of February 23rd, 2015 | |
| Median Price | $594,900 |
| Average List Price | $622,164 |
| Average Days on Market | 104 |
| Number of Homes On Market | 14 |
| Median House Size | 2.681 sq ft. |
| Market Action Index | 45.1 - Seller's Advantage |
Data provided by ©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 NORTH READING, MA this week is $594,900. The 14 properties have been on the market for an average of 104 days.
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 started cooling and prices have been flat for several weeks. Since we're in the Seller's zone, watch for changes in MAI. If the MAI resumes it's climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer's zone, watch for downward pressure on prices.
Median Price: The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
Price per Square Foot: This is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at first glance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining a bit. Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also getting more for their money.
Market Action Index: The NORTH READING, 01864 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 45.05; indicating very little supply relative to the demand.
Days on Market: The properties have been on the market for an average of 104 days. Half of the listings have come newly on the market in the past 80 or so days.
SEARCH ALL AVAILABLE NORTH READING HOMES FOR SALE, LIKE I DO!
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