Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of March 25th, 2013. (Source: AltosResearch)
|For Week of March 25th, 2013|
|Average List Price||$877,934|
|Average Days on Market||117|
|Number of Homes On Market||107|
|Median House Size||3,300 sq ft.|
|Market Action Index||
30.2 - Seller's Advantage
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.
The median list price in ANDOVER, MA this week is $719,900. The 107 properties have been on the market for an average of 117 days.
Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends 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.