Increased demand for Duvall’real estate heading into fall
The median list price in Duvall this week is $450,000 is up from last week’s$415,000. Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index (MAI see chart below) implies some increased demand will temper the negative trends.
Supply and Demand
The Duvall real estate market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to see prices move lower as a result. If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Price
Again this week we’ve seen the Duvall real estate market slip a notch. Prices continue to pull back from the market’s highs. The Market Action Index is a good leading indicator for the durability of this trend.
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