Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of August 17th, 2015. (Source: AltosResearch).
| For Week of August 17th, 2015 | |
| Median List Price | $748,888 |
| Average List Price | $876,632 |
| Average Days on Market | 93 |
| No. of Homes On Market | 125 |
| Median House Size | 3,352sq ft. |
| Market Action Index |
37.6 - 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 $748,888. The 125 properties have been on the market for an average of 93 days.
Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook forthe market.
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we're in the Seller's zone. Watch for changes in MAI. If the MAI resumes it's climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer's zone, watch for downwardpressure on prices.
Median Price: Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index beforewe see prices 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 fromthese 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 37.55 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 93 days. Half of the listings have come newly on the market in the past 56 or so days.
Comments(11)