Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of July 13th, 2015. (Source: AltosResearch).
| For Week of July 13th, 2015 | |
| Median Price | $735,500 |
| Average List Price | $876,383 |
| Average Days on Market | 88 |
| No. of Homes On Market | 128 |
| Median House Size | 3,278 sq ft. |
| Market Action Index |
38.3 - 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 $735,500. The 128 properties have been on the market for an average of 88 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 started cooling and prices have been flat for several weeks. Since we're in the Seller's zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer's zone, watch for downward pressure on prices.
Median Price: We continue to see prices in this zip code at a plateau even though prices dipped this week. Look for a persistent change in the Market Action Index (up or down) before we see prices significantly deviate from these levels.
Price per Square Foot: The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
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 38.27 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 88 days. Half of the listings have come newly on the market in the past 49 or so days.
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