Bothell’s Brentwood -Queenborough real estate market still favoring sellers

Bothell’s Brentwood -Queenborough real estate market still favoring sellers

The median list price in  Bothell’s Queenborough-Brentwood neighborhood this week is $588,975 up from last week’s $574,950.  With inventory up but days-on-market trending down and the Market Action Index (see MAI chart above) essentially flat, conditions  do not seem to have strong up or down pull.

Average days on market (40 days) down from last week’s (41), average price per square foot ($224).

Supply and Demand

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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.