Demand increasing for Bothell real estate real
This Week:
The median list price in Bothell is $488,000 is up from last week’s median list price of $488,000. Demand measured by the Market Action Index (MAI see below chart) is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.
Average days-on-market: 96 days down from last week’s 97 days.
Percent of properties with price decreases: 23% is down from last week’s 27%
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
Bothell real estate market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
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.
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Comparing Bothell’s median list and Inventory to neighboring Kirkland
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