Duvall’s real estate market: a bit of “Jekyll and Hyde”
The median list price in Duvall this week is $415,000 is down from last week’s$449,995. Inventory has been lightening lately and the Market Action Index(MAI see chart below) has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
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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