More home sellers in Lake Forest Park – Sheridan Beach reducing their prices
This Week:
The median List prices for the Lake Forest Park/Sheridan Beach area is $375,000 is down from from last week’s $395,975. The Market Action Index (see below MAI chart) has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
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Supply and Demand
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s Market (where significant demand leaves little inventory available) so watch for upward pricing pressure in the near future if the trend continues. Get the full report.
Price
We continue to see prices in the Lake Forest Park/Sheridan Beach hovering around their high point. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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New listing within the last 7 days
New bank owned and short sales within the last 7 days
Pending sales within the last 7 days Upcoming open houses
Percent of properties with price decreases 33% up from the last week’s 27%
Average days-on-market (DOM) 55 days down from the previous week’s 57 days.
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