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BURLINGTON Real Estate Market Trends: Week of April 13th, 2015

By
Real Estate Agent with LAER Realty Partners
BURLINGTON Real Estate Market Trends:
Single Family Homes - Week of April 13th, 2015

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.

SEARCH ALL AVAILABLE Burlington HOMES FOR SALE, LIKE I DO!

Comments (19)

Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Praful, this market looks very lucrative. I like the price point on average 682k and DOM 94. Thanks for sharing. 

Apr 21, 2015 06:08 AM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

This is a great market report for Burlington, Praful. I know your clients appreciate your posts!

Apr 21, 2015 08:15 AM
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Praful Thakkar ....Very nice update ...Hope you are having a great week!

Apr 21, 2015 09:48 AM
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Praful,

Thanks for the market update in your area. Days on market is high, but inventory is low and median near record high. Hmmm, sounds like the doldrums of uncertainty is keeping the market just under a boil, it could explode or contract depending on how long the uncertainty lasts. It's seems people are happy where they are at the moment.

a hui hou,

Apr 21, 2015 12:09 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Praful. Another well done report, no matter buying or selling your clients will get really useful information, they are fortunate to be working with you.

Apr 21, 2015 05:53 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Home buyers in your area will appreciate this report.

Apr 21, 2015 10:48 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Praful Thakkar  good market report ! Keep up the good work . I am sure your buyers and sellers love to read these reports .

Apr 22, 2015 12:49 AM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks all for stopping by and your comments - really appreciate it!

Apr 22, 2015 01:58 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Hannah Williams - you got it! They love it!

Apr 22, 2015 01:58 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Gita Bantwal - yep! This helps them----- and me, too.

Apr 22, 2015 01:58 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Joe Petrowsky - yes, this helps my clients and me! We call it win-win.

Apr 22, 2015 01:59 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Aloha Kimo Stowell - you are right - 94 days on market includes some new construction, too. Otherwise, the homes come on market and gone the next day if priced right, of course.

Apr 22, 2015 02:08 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And frankly, I am worried about median price over $700K! It's highest ever I have seen in last few years.

Apr 22, 2015 02:09 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

The crash will be worse if the rise is so high! However, sellers are making money for sure.

Apr 22, 2015 02:10 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Rob Thomas - yep, busy week for me.....wish there were few hours extra every day!

Apr 22, 2015 02:10 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks for stopping by Barbara-Jo Roberts Berberi, MA, TRC - Greater Clearwater Florida Residential Real Estate Professional - yep, clients love it.

Apr 22, 2015 02:11 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Frank Rubi, MBA - it is lucrative for sure.

Apr 22, 2015 02:13 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Only 24 homes on market makes is real HOT market! Specially, in lower price range.

Apr 22, 2015 02:14 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Market Action Index is still close to 45 - and not 55, like other towns, because some homes stay on market for longer, as they are priced too high!

Apr 22, 2015 02:14 PM