Positive signs for Bothell’s Brentwood -Queenborough real estate market
The median list price in Bothell’s Queenborough-Brentwood neighborhood this week is $549,994 down from last week’s $577,000. Inventory has been lightening lately and the Market Action Index (see MAI chart above) has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Supp
ly 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.
Price
Prices in the Queensborough-Brentwood neigborhood seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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