Here is a snapshot of real estate market for condos and townhouses in ANDOVER, MA for the week of December 31st, 2012. (Source: AltosResearch)
| For Week of December 31st, 2012 | |
| Median Price | $305,000 |
| Average List Price | $332,531 |
| Average Days on Market | 136 |
| Number of Homes On Market | 26 |
| Median House Size | 1,292 sq ft. |
| Market Action Index | 26.2 - Strong Buyer's |
Data provided by ©2011 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.
THIS WEEK:
The median list price in ANDOVER, MA this week is $305,000. The 26 properties have been on the market for an average of 136 days.
Inventory is tightening and days-on-market is falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals from these data.
SUPPLY & DEMAND:
The market has settled in at a relative stasis in inventory and sales conditions. It's a Buyer's market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.
Comments(3)