The median list price in LOWELL, MA this week is $205, 000
Inventory has been lightening lately and the Market Action Index
has been trending up. Though days-on-market is increasing, these
are mildly positive indications for the market.
Supply & Demand
Home sales have been exceeding new inventory for several weeks.
However because of excess inventory, prices have not yet stopped
falling. Should the sales trend continue, expect prices to level off
soon and potentially to resume their climb from there. Watch prices
as the market transitions from a Buyer’s market to a Seller’s market.
Again this week we see a downward notch for prices. Pricing has
been weak in recent weeks and versus their absolute-high levels.
The Market Action Index is a good leading indicator for the
durability of this trend.
The Market Action Index for Lowell MA this week is 17.9 which indicates a strong buyers market with a strong upward trend.
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 Seller’s
Market conditions. Below 30, conditions favor the buyer.
Are you looking to buy a home, condominium, townhouse or investment property in the Belvidere, Highlands, Pawtucketville, South Lowell, Centerville and Downtown areas of Lowell , Massachusettes?
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