Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of March, 23rd, 2015. (Source: AltosResearch).
| For Week of March 23rd, 2015 | |
| Median Price | $769,000 |
| Average List Price | $949,414 |
| Average Days on Market | 144 |
| No. of Homes On Market | 51 |
| Median House Size | 3.400 sq ft. |
| Market Action Index |
39.2 - 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 $769,000. The 51 properties have been on the market for an average of 144 days.
Inventory is up and Market Action is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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: Prices in this zip code seem to be pulling gently back from its high-point. This week prices remained basically flat. We're still near the high point of the market so we'll keep an eye on the Market Action Index to anticipate any more significant down shifts in pricing.
Price per Square Foot: We're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-location variables.
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 39.16 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 144 days. Half of the listings have come newly on the market in the past 84 or so days.
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