Bothell’s real estate inventory tightening, market times up

    Bothell’s real estate inventory tightening, days-on-market increasing 

This Week:

The median list price in  Bothell  this week is $514,470,  is up from last week’s median  list price of $502,472.   Inventory has been tightening and days-on-market increasing recently.  The Market Action Index (MAI see below chart) has been trending up.  Though days-on-has been basically flat, not providing strong indication for market conditions.

Average days-on-market: 108 days up from last week’s 106 days.

Percent of properties with price decreases: 39% is down from last week’s 49%

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 remains in a relative stasis in terms of sales to inventory.  Prices have not been moving higher for several weeks.  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 persistently, prices are likely to resume an upward climb.

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  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.

Comparing Bothell’s median list and Inventory to neighboring Kirkland