Here is a snapshot of real estate market for single family homes in WILMINGTON, MA for the week of May 18th, 2015. (Source: AltosResearch).
|For Week of May 18th, 2015|
|Average List Price||$496.871|
|Average Days on Market||37|
|No. of Homes On Market||21|
|Median House Size||2,127 sq ft.|
|Market Action Index||
58.3 - 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 WILMINGTON, MA this week is $484,900. The 21 properties have been on the market for an average of 37 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: Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
Price per Square Foot: We're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actually increasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to microlocation variables.
Market Action Index: The WILMINGTON, 01887 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 58.25; indicating very little supply relative to the demand.
Days on Market: The properties have been on the market for an average of 37 days. Half of the listings have come newly on the market in the past 7 or so days.