Here is a snapshot of real estate market for single family homes in ANDOVER, MA for the week of May 18th, 2015. (Source: AltosResearch).
|For Week of May 18th, 2015|
|Average List Price||$893,942|
|Average Days on Market||81|
|No. of Homes On Market||107|
|Median House Size||3,317 sq ft.|
|Market Action Index||
40.0 - 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 ANDOVER, MA this week is $749,900. The 107 properties have been on the market for an average of 81 days.
Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Median Price: In the last few weeks we've seen prices in this zip code bouncing around these current levels. Look for a persistent change in the Market Action Index before we see prices deviate significantly from here.
Price per Square Foot: The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.
Market Action Index: The ANDOVER, 01810 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 39.95 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.
Days on Market: The properties have been on the market for an average of 81 days. Half of the listings have come newly on the market in the past 28 or so days.