Bothell’s real estate market plateaued
This Week:
The median list price in Bothell this week is $499,950, is up from last week’s median list price of $499,000. With inventory, days-on-market, and the Market Action Index (MAI see below chart) all recently plateaued, the market is not sending strong directional signal for the near-term outlook.
Average days-on-market: 79 days down from last week’s 80 days.
Percent of properties with price decreases: 46% is up from last week’s 44%
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
The Bothell real estate market has been cooling over time and prices have plateaued for a while. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market. If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Price
The Bothell real estate market appears to be hovering around this plateau. Look for a persistent 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
Comments(3)