Here is a snapshot of real estate market for single family homes in NORTH READING, MA for the week of July 13th, 2015. (Source: AltosResearch).
| For Week of July 13th, 2015 | |
| Median Price | $589,900 |
| Average List Price | $640,861 |
| Average Days on Market | 70 |
| No. of Homes On Market | 31 |
| Median House Size | 2,298 sq ft. |
| Market Action Index |
52.9 - 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 NORTH READING, MA this week is $589,900. The 31 properties have been on the market for an average of 70 days.
Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market.
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. 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, prices are likely to resume an upward climb.
Median Price: Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolutehigh level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
Price per Square Foot: We're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to microlocation variables.
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 52.92; indicating very little supply relative to the demand.
Days on Market: The properties have been on the market for an average of 70 days. Half of the listings have come newly on the market in the past 49 or so days.
SEARCH ALL AVAILABLE NORTH READING HOMES FOR SALE, LIKE I DO!
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