Days-on-market time increasing for Bothell’s Brentwood -Queenborough real estate
The median list price in Bothell’s Queenborough-Brentwood neighborhood this week is $549,475 is down from last week’s $579,475. The Market Action Index (see MAI chart above) has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.
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 seem to settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels
Comments(0)