Low real estate inventory levels in Duvall driving prices higher
This week:
The median list price in Duvall, WA this week is $423,900 is up from last week’s $406,200. Inventory has been lightening lately and the Market Action Index (MAI see chart below) has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Supply and Demand
The Duvall real estate market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in the Market Action Index to signal prices rising again.
Price
The Duvall real estate market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
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