Market times for Bothell real estate helping fuel the recent activity

    Market times for Bothell real estate helping fuel the recent activity 

This Week:

The median list price in  Bothell  this week is $519,000,  is down from last week’s median  list price of $564,900.  The Market Action Index (MAI see below chart) has been climbing lately while  days-on-market are trending lower, these point to a positive near-term outlook for the market.

Average days-on-market: 66 days up from last week’s 113 days.

Percent of properties with price decreases: 18% is up from last week’s 27%

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 market appears to 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