Demand continues for
Lake Forest Park – Sheridan Beach real estate
This Week:
The median List prices for the Lake Forest Park/Sheridan Beach area is $390,000 is up slightly from last weeks, 374,950. Inventory is tightening and the days-on-market is falling. The Market Action Index (MAI see below graph) is also trending down. The market is not giving strong signals from this data.
Supply and Demand
Market conditions for the Lake Forest Park-Sheridan Beach real estate market have been consistently cooling in the past several weeks. Because we’re still in a Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of lack demand for prices to reflect and begin to fall . Expect prices to fall if the index persistently falls to the Buyer’s zone.
Price
We saw little price change in the Lake Forest Park/Sheridan Beach area from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.
Percent of properties with price decreases 30% down from the last week’s 33%
Average days-on-market (DOM) 79 days down from the previous week’s 93 days.
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