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

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

  For Week of  May 18th, 2015
Median Price $484,900
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.

SEARCH ALL AVAILABLE WILMINGTON 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

Wilmington market is doing really great.

Jun 05, 2015 04:44 PM #1
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

With just 21 homes on market - it's a shortage of inventory.

Jun 05, 2015 04:45 PM #2
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

58.3 is a great market action index.

Jun 05, 2015 04:45 PM #3
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Median list price is reaching about $500K!

Jun 05, 2015 04:45 PM #4
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And median sales price is almost  touching $500K.

Jun 05, 2015 04:46 PM #5
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

The days on market are only 37! Great market.

Jun 05, 2015 04:46 PM #6
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Sellers, beware! Woburn Real Estate Market is HOT HOT HOT!

Jun 05, 2015 04:46 PM #7
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Are you ready sellers? Jump in - as the trends are great.

Jun 05, 2015 04:47 PM #8
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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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