Here is a snapshot of real estate market for single family homes in TEWKSBURY, MA for the week of April 27th, 2015. (Source: AltosResearch).
For Week of April 27th, 2015 | |
Median Price | $438,888 |
Average List Price | $433,681 |
Average Days on Market | 67 |
No. of Homes On Market | 27 |
Median House Size | 2,276 sq ft. |
Market Action Index |
54.3 - Strong Seller's |
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 TEWKSBURY, MA this week is $438,888. The 27 properties have been on the market for an average of 67 days.
Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller's market so watch for upward pricing pressure in the near future if the trend continues.
Median Price: Prices in this zip code hit another all time high this week. You can see that prices continue to march higher. Look for a persistent downtrend in the Market Action Index into the Buyer's zone as a leading indicator of the price strength finally abating.
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 TEWKSBURY, 01876 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 54.30; indicating very little supply relative to the demand.
Days on Market: The properties have been on the market for an average of 67 days. Half of the listings have come newly on the market in the past 18 or so days.
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