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|
|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.