The median list price in Bothell this week is $498,000, is down slightly from last week’s median list price of $499,990. Demand measured by the Market Action Index (MAI see below chart) is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.
Average days-on-market: 60 days down from last week’s 66 days. Percent of properties with price decreases: 29% is up from last week’s 26%
Localized real estate market reports are great for getting a “feel” of what that specific market is doing. For a more accurate pricing on residential property a Competitive Market Analysis (CMA) needs to be done comparing your home with current properties that have sold recently in your neighborhood.
Supply and Demand
In the last few weeks the Bothell 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.
The Bothell market is hovering around this plateau. Look for a persitent change in the Market Action Index before we see prices deviate from these levels. Sign up to have FREE WEEKLY UPDATES on the latest Bothell real estate market trends e-mailed to you weekly.
Comparing Bothell’s median list and Inventory to neighboring Kirkland
New listing in Bothell