Bothell home sales continue to outstrip supply

 Bothell home sales continue to outstrip supply

This Week:

The median list price in Bothell  is $519,000  is up from last week’s median  list price of $499,000.   The Market Action Index (MAI see below chart) has been climbing lately while  days-on-market are trending down, these point to a positive near-term outlook for the market. 

Average days-on-market: 89 days up from last week’s 87 days.

Percent of properties with price decreases: 20% is down  from last week’s 24%

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 continue to outstrip supply in Bothell 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 the trend continues. 

Price

Despite this week’s up tic, the  market seems to have paused around this plateau.  The Market Action Index is a good leading indicator for the durability of this shift.  

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Comparing Bothell’s median list and Inventory to neighboring Kirkland

Bothell Washington