Bothell’s real estate market remains relatively stable
The median list price in Bothell is $400,000 is up from last week’s median list price of $399,990. The Market Action Index (MAI see chart below) has been trending down lately, while inventory in Bothell is climbing. These trends imply a weakening market. h
Localized real estate market reports are great for getting a “feel” of what that specific market is doing. For a more accurate pricing on residential property a Competitive Market Analysis (CMA) needs to be done comparing your home with current properties that have sold recently in your neighborhood.
Supply and Demand
Home sales in the Bothell have been cooling over time and prices have recently flattened. Despite the consisted decrease in the Market Action Index (MAI) we’re in a Seller’s market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will follow suit. If the MAI drops consistently or falls int the Buyer’s zone, watch for downward pressure on prices.
Price
Bothell real estate prices seem to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
The average days-on-market is down slightly from 106 days to 98 days.
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