Bothell's real estate market takes a breather
This Week:
The median list price in Bothell this week is $495,900, is down slightly from last week’s median list price of $499,000. Inventory is up and the Market Action Index (MAI see below chart) has been trending lower, the overall conditions are weakening a bit.
Average days-on-market: 64 days up from last week’s 63 days.
Percent of properties with price decreases: 33% is up from last week’s 30%
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 real estate 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.
Price
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
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