Demand for Bothell’s Brentwood -Queenborough real estate slips slightly
The median list price in Bothell’s Queenborough-Brentwood neighborhood this week is $575,000 down from last week’s $588,975. Inventory is up and the Market Action Index (see MAI chart above) is trending down recently, while days-on-market appears to be trending lower, the overall conditions are weakening a bit.
Average days on market (39 days) down from last week’s (40), average price per square foot ($222).
Supp
ly and Demand
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes it’s 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
Prices in the Queensborough-Brentwood neighborhood bounce around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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