Bothell home sales exceeding new inventory
The median list price in Bothell is $398,395 up from last week’s median list price of $397,575. Demand measured by the Market Action Index (MAI see below graph) is increasing and days-on-market is trending downward. Even as more properties come available these are positive trends for the market.
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
Home sales in Bothell have been exceeding new inventory for several weeks. While still a Buyer’s market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a Seller’s Market.
Price
This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend in general over the last several weeks.
The average days-on-market continues is up down from 108 days to 105 days.
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Bothell Washington
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