NORTH READING Real Estate Market Trends: Week of May 4th, 2015

Here is a snapshot of real estate market for single family homes in NORTH READING, MA for the week of May 4th, 2015. (Source: AltosResearch).

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 NORTH READING, MA  this week is $594,900. The 24 properties have been on the market for an average of 48 days.

The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.

The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller's Market zone and prices have been moving upward as evidence.

Median Price: We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

Price per Square Foot: The value placed on homes seems to be trending up, 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 NORTH READING, 01864 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 54.92; indicating very little supply relative to the demand.

Days on Market: The properties have been on the market for an average of 48 days. Half of the listings have come newly on the market in the past 21 or so days.

SEARCH ALL AVAILABLE NORTH READING HOMES FOR SALE, LIKE I DO!