Market times for Bothell listing’s decreasing
This Week:
The median list price in Bothell this week is $529,950, up from last week’s median list price of $527,000. With inventory and days-on-market basically unchanged and the Market Action Index (MAI see below chart) increasing, the market is not sending strong directional signals for the near term outlook.
Average days-on-market: 50 days down from last week’s 67 days.
Percent of properties with price decreases: 17% up from last week’s 16%
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
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market sow watch for upward pricing pressure in the near future if the trend continues.
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Price
Prices appear to be hovering around their high point. Look f0r a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Comparing Bothell’s median list and Inventory to neighboring Kirkland
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