Here is a snapshot of real estate market for single family homes in Burlington, MA for the week of April 13th, 2015. (Source: AltosResearch).
For Week of April 13th, 2015 | |
Median Price | $725,000 |
Average List Price | $682,624 |
Average Days on Market | 94 |
No. of Homes On Market | 24 |
Median House Size | 2,808 sq ft. |
Market Action Index |
44.6 - 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 Burlington, MA this week is $725,000. The 24 properties have been on the market for an average of 94 days.
Inventory is tightening and days-on-market is falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals from these data.
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Median Price: Prices are climbing and we're nearing the market's all time high. A persistent drop of the Market Action Index into the Buyer's zone will be a leading indicator of the price strength subsiding.
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. 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 BURLINGTON market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 44.55 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 94 days. Half of the listings have come newly on the market in the past 112 or so days.
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