BURLINGTON Real Estate Market Trends: Week of May 18th, 2015

By
Real Estate Agent with LAER Realty Partners
https://activerain.com/droplet/4DGp
BURLINGTON Real Estate Market Trends:
Single Family Homes - Week of May 18th, 2015

Here is a snapshot of real estate market for single family homes in Burlington, MA for the week of May 18th, 2015. (Source: AltosResearch).

  For Week of  May 18th, 2015
Median Price $699,000
Average List Price $648,400
Average Days on Market 71
No. of Homes On Market 27
Median House Size 2,700 sq ft.
Market Action Index

49.1 -  Strong Seller's

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 Burlington, MA  this week is $699,000. The 27 properties have been on the market for an average of 71 days.

Inventory is tightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller's market so watch for upward pricing pressure in the near future if the trend continues.

Median Price: Though this week saw relatively little price change from last week, the market seems to be show some signs of strength. The Market Action Index is a good leading indicator for the durability of this trend.

Price per Square Foot: This is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at first glance. We can see that home prices are rising somewhat, the price per square foot of homes listed has been declining. Often this can be attributed to new and remodeled homes on the market. Prices in the area are trending higher but buyers are getting more for their money.

Market Action Index: The BURLINGTON market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 49.10; indicating very little supply relative to the demand.

Days on Market: The properties have been on the market for an average of 71 days. Half of the listings have come newly on the market in the past 21 or so days.

SEARCH ALL AVAILABLE Burlington HOMES FOR SALE, LIKE I DO!

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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
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Praful good to see a strong Sellers Market so close to Connecticut, hopefully it will cross state lines.

May 30, 2015 12:40 PM #1
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks for stopping by George Souto - yep, it's a hot market!

Jun 03, 2015 03:29 PM #2
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Praful Thakkar
LAER Realty Partners - Andover, MA
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And I am sure it will cross the stateline soon!

Jun 03, 2015 03:29 PM #3
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Praful Thakkar
LAER Realty Partners - Andover, MA
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(Wondering why CT is not that hot!)

Jun 03, 2015 03:29 PM #4
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Praful Thakkar
LAER Realty Partners - Andover, MA
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Market Action Index is reaching 50 for Burlington.

Jun 05, 2015 04:55 PM #5
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Praful Thakkar
LAER Realty Partners - Andover, MA
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Days on market are about 2 months - fair for this market.

Jun 05, 2015 04:55 PM #6
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Praful Thakkar
LAER Realty Partners - Andover, MA
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Low inventory is the reason why market is hot.

Jun 05, 2015 04:55 PM #7
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Praful Thakkar
LAER Realty Partners - Andover, MA
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Only 27 homes on market tells the whole story!

Jun 05, 2015 04:56 PM #8
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Praful Thakkar

Andover, MA: Andover Luxury Homes For Sale
What did my neighbor's home sell for?
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