Here is a snapshot of real estate market for single family homes in NORTH READING, MA for the week of June 15th, 2015. (Source: AltosResearch).
| For Week of June 15th, 2015 | |
| Median Price | $607,450 |
| Average List Price | $638,376 |
| Average Days on Market | 53 |
| No. of Homes On Market | 32 |
| Median House Size | 2,300 sq ft. |
| Market Action Index |
60.8 - 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 NORTH READING, MA this week is $607,450. The 32 properties have been on the market for an average of 53 days.
Days-on-market has been trending up recently but the Market Action Index and inventory levels are basically flat and not providing strong indications 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 down tic, price trends in this zip code have been moving up in the last few weeks. We are below the market's high point, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.
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. We can see that home prices are rising somewhat, the price per square foot of homes listed has been declining. Often this can be attributed to new and remodeled homes on the market. Prices in the area are trending higher but buyers are getting more for their money.
Market Action Index: The NORTH READING, 01864 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day $ arket Action Index stands at 60.80; indicating very little supply relative to the demand.
Days on Market: The properties have been on the market for an average of 53 days. Half of the listings have come newly on the market in the past 24 or so days.
SEARCH ALL AVAILABLE NORTH READING HOMES FOR SALE, LIKE I DO!
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