Bothell’s Brentwood/Queensborough real estate market not sending strong near-term directional signals

 Bothell’s Brentwood/Queensborough real estate market not sending strong near-term directional signals

The median list price in  Bothell’s Queenborough-Brentwood neighborhood this week is $600,000 is up from last week’s $579,990.   With inventory and days-on-market basically unchanged and the  Market Action Index (see above MAI chart) decreasing, the market is not sending strong directional signals for the near-term outlook.

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 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.