Here is a snapshot of real estate market for single family homes in TEWKSBURY, MA for the week of February 4th, 2013. (Source: AltosResearch)
|For Week of February 4th, 2013|
|Median Price||$ 350,000|
|Average List Price||$ 384,246|
|Average Days on Market||127|
|Number of Homes On Market||57|
|Median House Size||1,850 sq ft.|
|Market Action Index||24.4 - 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.
Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.