Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of April 1st, 2013. (Source: AltosResearch)
|For Week of April 1st, 2013|
|Average List Price||$888,064|
|Average Days on Market||123|
|Number of Homes On Market||113|
|Median House Size||3,225 sq ft.|
|Market Action Index||
30.3 - 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 113 properties have been on the market for an average of 123 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.
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.