Bothell’s Brentwood -Queenborough showings signs of weakening
The median list price in Bothell’s Queenborough-Brentwood neighborhood this week is $549,950 down from last week’s $561,000. The Market Action Index (see MAI chart above) has been trending down lately, while inventory is climbing. These trends imply a weakening market.
Average days on market (51days) down from last week’s (52), average price per square foot ($218).
Supply 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 have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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