Bothell’s Brentwood -Queenborough real estate market starting to cool
The median list price in Bothell’s Queenborough-Brentwood neighborhood this week is $584,950 down from last week’s $599,000. The Market Action Index (see MAI chart above) has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Average days on market (43), average price per square foot ($221).
Supp
ly and Demand
The market has started coooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes it’s climb, prices will likely follow suit. If the MAI drops consistently or falls into the buyer’s zone, watch for downward pressure on prices.
Price
Prices in the Queensborough-Brentwood neighborhood bounce around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Comments(1)