Bothell’s Brentwood/Queensborough real estate market is heading into slow down
The median list price in Bothell’s Queenborough-Brentwood neighborhood this week is $579,990 is down from last week’s $589,990. Inventory has been decreasing lately but the Market Action Index (see above MAI chart) is falling. With days-on-market climbing, these are relatively negative implications for the market.
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.
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.