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WOBURN Real Estate Market Trends: Week of April 27th, 2015

By
Real Estate Agent with LAER Realty Partners
WOBURN Real Estate Market Trends:
Single Family Homes - Week of April 27th, 2015

Here is a snapshot of real estate market for single family homes in WOBURN, MA for the week of April 27th, 2015. (Source: AltosResearch).

  For Week of  April 27th, 2015
Median Price $464,000
Average List Price $474,950
Average Days on Market 32
No. of Homes On Market 24
Median House Size 1,852 sq ft.
Market Action Index

67.2 -  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 WOBURN, MA  this week is $464,000. The 24 properties have been on the market for an average of 32 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: Despite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.

Price per Square Foot: While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers are tending to get more home for their money.

Market Action Index: The WOBURN is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 67.21; indicating very little supply relative to the demand.

Days on Market: The properties have been on the market for an average of 32 days. Half of the listings have come newly on the market in the past 7 or so days.

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

Comments (8)

Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

This is one of the 'hottest' town, you can say.

May 11, 2015 04:33 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Inventory is still low - just 24 single family homes on market this week.

May 11, 2015 04:33 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And what do say about Market Action Index? 67.2!

May 11, 2015 04:34 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

That's stongest I have seen - MAI of 67.2! Wow!

May 11, 2015 04:34 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Even better - number of days on market - only 32!

May 11, 2015 04:34 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

That being said, there is hardly a month's supply in Woburn, it seems.

May 11, 2015 04:35 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Mediab sale prices are in high 400s - pretty good for this town.

May 11, 2015 04:35 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Average list price is going close to $500K - another reason why it's time NOT TO WAIT for buying a home in Woburn.

May 11, 2015 04:36 PM