Bothell’s real estate market showing signs of summer quibbling
This Week:
The median list price in Bothell is $429,900 is down slightly from last week’s median list price of $430,000. The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.
Demand measured by the Market Action Index (MAI see chart below) is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.
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 Bothell real estate market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Price
The Bothell real estate market this week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend in general over the last several weeks.
The average days-on-market is down slightly from 82 days to 78 days.
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Comparing Bothell’s median list and Inventory to neighboring Kirkland
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