Bothell’s real estate market starting to flatten
The median list price in Bothell is $402,900 is up from last week’s median list price of $400,000. With inventory and days-on-market basically unchanged and the Market Action Index (MAI see chart below) decreasing, the Bothell real estate market is not sending strong directional signals for the near-term outlook. This typically happens in June and last until late August.
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
The Market Action Index has been trending lower in Bothell for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Price
Bothell’s 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 up slightly from 98 days to 99 days.
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Comparing Bothell’s median list and Inventory to neighboring Kirkland
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