Bothell’s real estate prices slip slightly, don’t worry

    Bothell’s real estate prices slip slightly, don’t worry

This Week:

The median list price in  Bothell  this week is $534,950,  is down from last week’s median  list price of $557,000.  Inventory is tightening and days-on-market is falling.  The Market Action Index (MAI see below chart) shows demand heating up.  These are relatively bullish signs for prices.

Average days-on-market: 63 days down from last week’s 68 days.

Percent of properties with price decreases: 17% is down from last week’s 18%

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.

Sign up to have FREE WEEKLY UPDATES on the latest Bothell real estate market trends e-mailed to you weekly.

  Price

Prices appear to be hovering around their high point.  Look f0r a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Comparing Bothell’s median list and Inventory to neighboring Kirkland