Lake Forest Park – Sheridan Beach real estate showing some positive signs
This Week:
The median List prices for the Lake Forest Park/Sheridan Beach area is $437,000 up from from last week’s $422,000. inventory has been lightening lately and the Market Action Index (see below MAI chart) has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
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Supply and Demand
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb. .. . Get the full report.
Price
While this week the price in the area didn’t move much, we continue to see prices in the Lake Forest Park/Sheridan Beach hovering around their high point. Watch for persistent downward-shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
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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
Percent of properties with price decreases 42% up from the last week’s 31%
Average days-on-market (DOM) 61 days down from the previous week’s 58 days.
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