Here is a snapshot of real estate market for single family homes in NORTH READING, MA for the week of April 20th, 2015. (Source: AltosResearch).
|For Week of April 20th, 2015|
|Average List Price||$573,281|
|Average Days on Market||44|
|No. of Homes On Market||21|
|Median House Size||2,150 sq ft.|
|Market Action Index||
53.9 - Seller's Advantage
Data provided by ©2005-2014 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 NORTH READING, MA this week is $589,900. The 21 properties have been on the market for an average of 44 days.
The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Median Price: Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.
Price per Square Foot: The value placed on homes seems to be trending up, despite the fact that prices in general have remained basically flat. These conditions can arise when inventory is light and a greater number of smaller homes have more influence on overall prices.
Market Action Index: The NORTH READING, 01864 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 53.91; indicating very little supply relative to the demand.
Days on Market: The properties have been on the market for an average of 44 days. Half of the listings have come newly on the market in the past 14 or so days.