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

By
Real Estate Agent with LAER Realty Partners
https://activerain.com/droplet/4DGs

TEWKSBURY 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 TEWKSBURY, MA for the week of May 18th, 2015. (Source: AltosResearch).

  For Week of  May 18th, 2015
Median Price $417,450
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.

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

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Massachusetts Middlesex County Tewksbury
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Rainmaker
2,295,489
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Praful. Important information for anyone considering buying or selling. They would be wise to contact you to discuss their needs.

May 30, 2015 07:20 PM #1
Rainmaker
4,209,114
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Praful, glad to see Tewksbury is experiencing a strong Seller's market, and hope sales are strong for you!

 

 

May 31, 2015 12:35 AM #2
Rainmaker
2,100,725
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

This looks like a good and strong market. Tewsbury sounds very interesting in a great location too! Thanks Praful! Buyers and Sellers should always know they can count on you!

May 31, 2015 01:56 AM #3
Rainmaker
689,506
Michael Dagner
Brokers Guild Classic - Denver, CO
Your Denver Homes Realty Expert

Hi Praful, its always interesting to hear what's happening in other areas.  Sounds like things are looking up!

May 31, 2015 10:06 AM #4
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks for stopping by Joe Petrowsky - little busy week for me so many reports are coming one after another...lol!

May 31, 2015 03:04 PM #5
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks for stopping by -  really appreciate it.

May 31, 2015 03:05 PM #6
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Yes Patricia Feager, MBA, GRI, Cert Negotiations Expert, Military Relo Prof - this is a very hot town - all of a sudden...

May 31, 2015 03:05 PM #7
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Yes, Joan Cox - stronger than even I'd expect.

May 31, 2015 03:05 PM #8
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Which is most surprising part - as this was always a laid down market.

May 31, 2015 03:06 PM #9
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks for stopping by Michael Dagner . Appreciate your comments.

May 31, 2015 03:06 PM #10
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

It's always interesting to learn about other town's market.

May 31, 2015 03:07 PM #11
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Tewksbury's median price is now over $400K! Almost 25% improvement in a year or so.

May 31, 2015 03:07 PM #12
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Same is true for Medial Sale Price over $420K. 

May 31, 2015 03:07 PM #13
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Days on market are 55 - too less for this town.

May 31, 2015 03:08 PM #14
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

34 homes on market is not enough to provide sufficient inventory to all buyers looking for the home.

May 31, 2015 03:08 PM #15
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And now market action index seems all time high - at 58.8.

Will it touch 60 next week? let's wait and watch.

 

May 31, 2015 03:09 PM #16
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Overall, Tewksbury market is rocking and rolling!

May 31, 2015 03:09 PM #17
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Praful Thakkar

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What did my neighbor's home sell for?
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