WOBURN Real Estate Market Trends: Week of June 8th, 2015

By
Real Estate Agent with LAER Realty Partners
https://activerain.com/droplet/4FD7

WOBURN Real Estate Market Trends:
Single Family Homes - Week of June 8th, 2015

Here is a snapshot of real estate market for single family homes in WOBURN, MA for the week of June 8th, 2015. (Source: AltosResearch).

  For Week of  June 8th, 2015
Median Price $456.950
Average List Price $483,962
Average Days on Market 28
No. of Homes On Market 42
Median House Size 1,922 sq ft.
Market Action Index

74.7 -  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 WOBURN, MA  this week is $456,950. The 42 properties have been on the market for an average of 28 days.

The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.

The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Median Price: The market appears to be hovering around this plateau. This week prices eased down a bit. The Market Action Index is a good leading indicator for the durability of this shift.

Price per Square Foot: The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.

Market Action Index: The WOBURN market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 74.71; indicating very little supply relative to the demand.

Days on Market: The properties have been on the market for an average of 28 days. Half of the listings have come newly on the market in the past 14 or so days.

SEARCH ALL AVAILABLE WOBURN 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

Woburn Real Estate is at the top of the world NOW!

Jul 03, 2015 03:48 PM #1
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

The most important indicator for market is Market Action Index. Guess whre it stands? Above 70!

Jul 03, 2015 03:48 PM #2
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

To be precise - 74.7 and about to hit high of 75.

Jul 03, 2015 03:49 PM #3
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And how aggressive the market is? Average days on market are.....you guessed it right - less than a month.

Jul 03, 2015 03:49 PM #4
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And if that's not enough - the inventory is low with just 42 homes on market.

Jul 03, 2015 03:50 PM #5
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Median List Price is in mid $400s - little over $450K! A great indicator of where market is heading.

Jul 03, 2015 03:51 PM #6
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And aptly supported by Median Sale Price - in $480Ks! And soon you may see it crossing $500K mark.

Jul 03, 2015 03:51 PM #7
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

The average home size is shade below 2,000 sq ft only.

Jul 03, 2015 03:52 PM #8
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Praful Thakkar

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What did my neighbor's home sell for?
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