Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of June 15th, 2015. (Source: AltosResearch).
| For Week of June 15th, 2015 | |
| Median Price | $725,000 |
| Average List Price | $854.597 |
| Average Days on Market | 79 |
| No. of Homes On Market | 125 |
| Median House Size | 3,317 sq ft. |
| Market Action Index |
40.0 - 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 ANDOVER, MA this week is $725,000. The 125 properties have been on the market for an average of 79 days.
The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller's Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.
Median Price: In the last few weeks we've seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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 can see more home for their money.
Market Action Index: The ANDOVER, 01810 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 40.05 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 79 days. Half of the listings have come newly on the market in the past 28 or so days.
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