Lake Forest Park – Sheridan Beach’s real estate inventory grows as demand shrinks
This Week:
The median List prices for the Lake Forest Park/Sheridan Beach area is $525,000 up from last week’s $465,000. The Market Action Index (see below MAI chart) has been trending down lately, while inventory is climbing. These trends imply a weakening market.
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Supply and Demand
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb. . ……Get the full report.
Price
In the last few weeks we’ve seen prices in the Lake Forest Park area bouncing around this plateau. Look for a persistent down-sift in the Market Action Index before we see prices deviate from these levels.
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