Bothell’s Brentwood -Queenborough real estate market dipping
The median list price in Bothell’s Queenborough-Brentwood neighborhood this week is $541,975 is down from last week’s $556,450. The Market Action Index (see MAI chart above) has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Supp
ly and Demand
The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. However, inventory is sufficiently low to keep us in the Seller’s zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Price
In the last few weeks we’ve seen prices in the Queensborough-Brentwood neighborhood bounce around this plateau. Look for a persitent down-shift in the Market Action Index before we see prices deviate from these levels.
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