Demand for Juanita real estate slipping
This Week
The median list price this week for the Kirkland-Juanita area is $499,925 is down from last week’s $519,000. The Market Action Index (MAI see below chart) has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
Supply and Demand
The Juanita real estate market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Price
Again this week in the Juanita area we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
This Juanita real estate update is brought to you you by Adrian Willanger of Coldwell Banker Danforth. If you are considering selling your home I would be happy to assist you. Give me a call for a free market evaluation of your home’s value. I can be reached at 206 909-7536 or by email at Adrian@adrianwillanger.com >
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