141 New Homes For Sale in Bothell-Is It A Good Time To Buy

With the news of Bothell’s downtown revitalization project home developers have aggressively been building new home communities in and around Bothell.
Currently there are 539 active home listings in the Bothell area, 141 our new homes, 101 short sales and the rest are re-sales.  Traditionally the busy home buying season starts after Easter and last until late June.  We haven’t been in a traditional market since spring of 2007. 
In the Bothell area we would normally see the homes for sale inventory increase from May until mid to late summer. The 3 year charts shows that when inventory levels increase prices start to come down. Conversely, when inventory levels are low prices start to increase; the chart shows inventory starting to increase along with the median prices, could this spell market equilibrium?
A couple of wild cards that could influence the price of homes, the amount of short sales available and the shadow inventory of bank owned properties that haven’t hit the market yet. 
An article in the Business Insider reported an increasing gap between new and existing home sales. The main point of their article was that ever since the housing crisis began, pre-owned homes have been outpacing new home sales mainly due to the flood of distressed properties. 
Of the 141 new homes for sale in the Bothell area there are 58 homes priced from $269,900-$349,950, 60 priced from $350,000-$499,950 and 23 priced from $500,000-$900,000.
It will be interesting to see what Bothell new homes the pool of available buyers will be attracted to and how well the builders have identified their target markets.  
For more information on buying or selling in Bothell contact Adrian Willanger 206 909-7536.