Bothell’s real estate prices slip slightly but market times are decreasing

    Bothell’s real estate prices slip slightly but market times are decreasing 

This Week:

The median list price in  Bothell  this week is $507,470,  is down from last week’s median  list price of $514,470.   Inventory has been lightening lately and the Market Action Index (MAI see below chart) has been trending up.  Though days-on-has has decreased slightly, these are mildly positive indications for the market.

Average days-on-market: 95 days up from last week’s 108 days.

Percent of properties with price decreases: 26% is down from last week’s 39%

Localized real estate market reports are great for getting a “feel” of what that specific market is doing.  For a more accurate pricing on residential property a Competitive Market Analysis (CMA) needs to be done comparing your home with current properties that have sold recently in your neighborhood. 

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 sow watch for upward pricing pressure in the near future if the trend continues.

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  Price

The Bothell real estate market appears to be hovering around this plateau.  Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Comparing Bothell’s median list and Inventory to neighboring Kirkland