Here is a snapshot of real estate market for single family homes in TEWKSBURY, MA for the week of May 18th, 2015. (Source: AltosResearch).
|For Week of May 18th, 2015|
|Average List Price||$421,779|
|Average Days on Market||55|
|No. of Homes On Market||34|
|Median House Size||2,060 sq ft.|
|Market Action Index||
58.8 - 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 TEWKSBURY, MA this week is $417,450. The 34 properties have been on the market for an average of 55 days.
Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.
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: You can see that prices in this zip code are marching upward and that we're getting close to the market's all time high. 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: In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.
Market Action Index: The TEWKSBURY, 01876 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 58.80; indicating very little supply relative to the demand.
Days on Market: The properties have been on the market for an average of 55 days. Half of the listings have come newly on the market in the past 14 or so days.