Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of May 27th, 2013. (Source: AltosResearch).
|For Week of May 27th, 2013|
|Average List Price||$860,919|
|Average Days on Market||90|
|Number of Homes On Market||149|
|Median House Size||2,988 sq ft.|
|Market Action Index||
31.2 - 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 $695,000. The 149 properties have been on the market for an average of 90 days.
Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications 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.