Bothell, home sales showing life, sales outstripping  supply

 The median list price in Bothell  is $404,950  is up  from last week’s median  list price of $402,900.   Demand measured by the Market Action Index (MAI see chart below) is increasing and days-on-market is holding steady.  With more properties coming available, conditions are mildly positive.

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  Bothell  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. 

Price

Bothell’s real estate market seems 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 99 days to 103 days.

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Comparing Bothell’s median list and Inventory to neighboring Kirkland 

The New Bothell

With plans and construction underway for a new city center project downtown Bothell could be the real estate Pearl of the northwest. The word on the street is, Bothell is on the threshold of creating something very special with hints of place-making comparable to Portland’s Pearl District. Quality new home communities are being developed in and around Bothell.

In 2010 McMenamins, a brewpub and hotel chain operating in Washington and Oregon agreed to purchase the Anderson School Building in Bothell Washington. The 5.41 acre Anderson site was previously owned by the Northshore School district is part of the 18 acres being sold to developers for redevelopment of Downtown Bothell, adjacent to this property are parcels that will be sold to developers for single family and detached housing.

Related posts:

1. Northwest Seattle’s home sales outstripping supply (20.4)
2. Lake Forest Park-Sheridan Beach home sales outstripping supply (19.9)
3. Bothell home sales heading to Seller’s market (16.1)
4. Bothell home sales exceeding new inventory (15.5)
5. Bothell home sales have been exceeding new inventory (15.2)