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

By
Real Estate Agent with LAER Realty Partners
https://activerain.com/droplet/4DGr
NORTH ANODVER 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 NORTH ANODVER, MA for the week of May 18th, 2015. (Source: AltosResearch).

  For Week of  May 18th, 2015
Median Price $625,000
Average List Price $710,936
Average Days on Market 49
No. of Homes On Market 75
Median House Size 2,962 sq ft.
Market Action Index

47.7 -  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 NORTH ANODVER, MA  this week is $625,000. The 75 properties have been on the market for an average of 49 days.

Inventory is up and Market Action is $trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

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: While this week the median price in this zip code didn't fluctuate much, we are relatively close to the market's high-water mark and have had an upward price trend over the last few weeks. Watch for persistent downward shift in the Market Action Index into the Buyer's zone as a leading indicator of the price strength subsiding.

Price per Square Foot: The price per square foot is increasing a bit recently and overall price trends haven't shown a consistent upwardly push. This can imply that investment conditions are opportunistic. Watch the Remodel Index for a more detailed analysis of the investment opportunity in the area.

Market Action Index: The NORTH ANDOVER, 01845 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 47.73; indicating very little supply relative to the demand.

Days on Market: The properties have been on the market for an average of 49 days. Half of the listings have come newly on the market in the past 14 or so days.

SEARCH ALL AVAILABLE NORTH ANODVER HOMES FOR SALE, LIKE I DO!

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Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

This is a real hot market for North Andover.

Jun 05, 2015 04:57 PM #1
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Market Action Index is reaching 50 level mark.

Jun 05, 2015 04:57 PM #2
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Though there is no shortage of Inventory - 75 homes on market.

Jun 05, 2015 04:57 PM #3
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

The good news is - days on market are less than 50!

Jun 05, 2015 05:12 PM #4
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Median Sale price is pretty good - $625K!

Jun 05, 2015 05:12 PM #5
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And median sale price is over $700K! Great market to be in.

Jun 05, 2015 05:13 PM #6
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Market Action Index - stil at 47.7 means it is still hot sellers market.

Jun 05, 2015 05:13 PM #7
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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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