othell’s real estate market remains mildly positive

 Bothell’s real estate market remains mildly positive  

This Week:

The median list price in  Bothell  this week is $537,000,  up from last week’s median  list price of $525,000.  Inventory has been lightening lately and the  Market Action Index (MAI see below chart) has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market. .

Average days-on-market: 64 days up  from last week’s 53 days.

Percent of properties with price decreases: 32% up from last week’s 28%

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 market has started cooling and prices have been flat for several weeks.  Since we’re in the Seller’s zone, watch for changes in MAI.  If the MAI resumes its climb, prices will likely follow suit.  If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

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  Price

The 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