Lake Forest Park – Sheridan Beach real estate prices flat while demand decreases
This Week:
The median List prices for the Lake Forest Park/Sheridan Beach area is $424,975 unchanged from from last week’s $424,975. Inventory is tightening and days-on-market is falling. But demand as measured by the Market Action Index (see below MAI chart) is also trending down. The market is not giving strong up or down signals form these data.
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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 so watch for upward pricing pressure in the near future if the trend continues. ……Get the full report.
Price
While the median prices in the Lake Forest Park/Sheridan Beach hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark. 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 39% down from the last week’s 40%
Average days-on-market (DOM) 51 days down from the previous week’s 54 days.
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