Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of April 13th, 2015. (Source: AltosResearch).
| For Week of April 13th, 2015 | |
| Median Price | $780,000 |
| Average List Price | $918,649 |
| Average Days on Market | 95 |
| No. of Homes On Market | 79 |
| Median House Size | 3,356 sq ft. |
| Market Action Index |
38.2 - 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 $780,000. The 79 properties have been on the market for an average of 95 days.
With inventory trending up but days-on-market trending down and the Market Action Index essentially flat recently, conditions do not seem to have strong up or down pull.
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: We continue to see prices in this zip code bounce around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Price per Square Foot:The value placed on homes appears to be on the upswing, despite the fact that prices in general have remained basically flat. These conditions can arise when inventory is light and a greater number of smaller homes have more influence on overall prices.
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 38.22 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 95 days. Half of the listings have come newly on the market in the past 21 or so days.
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