Here is a snapshot of real estate market for single family homes in Burlington, MA for the week of July 20th, 2015. (Source: AltosResearch).
| For Week of July 20th, 2015 | |
| Median Price | $519,900 |
| Average List Price | $592.951 |
| Average Days on Market | 47 |
| No. of Homes On Market | 47 |
| Median House Size | 2,160 sq ft. |
| Market Action Index |
54.2 - 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 Burlington, MA this week is $519,900. The 47 properties have been on the market for an average of 47 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 been cooling off a bit in recent weeks, as more homes are available and demand is less. We're already seeing prices move lower as a result, though the market is still in the Seller's zone. Expect this trend to continue especially if the index falls to the Buyer's zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Median Price: Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.
Price per Square Foot: The market's downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities.
Market Action Index: The BURLINGTON market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 54.22; indicating very little supply relative to the demand.
Days on Market: The properties have been on the market for an average of 47 days. Half of the listings have come newly on the market in the past 28 or so days.
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