Bothell Homes for Sale Inventory Reaches 3 Year Lows

Over the last 3 years the inventory level of homes for sale in Bothell has increased during July. This year the number of new and existing homes for sale has been reversed and is the lowest it has been in the last 3 years.

Home Sales:

• Existing Home Sales 357

• New Homes 153

The low level of homes for sale has caused the median price curve to start to trend upward, this is the first time this has happened in over three years.

July Closings:

• Existing Home Sales 91

• New Homes 35

Low interest rates and inventory and pent-up demand may have finally taken hold in the Bothell housing market with a flurry of buying activity in July perhaps the bottom has been reached, it will certainly be worth watching to see if the buying momentum continues into the fall season.

Inventory and median prices charts are compiled from data supplied by Altos Research LLC for the Bothell zip codes 98011, 98012, 98021, the sale are compiled from the NWMLS data using the same zip codes.

For more detailed information regarding Bothell real estate contact Adrian Willanger, Coldwell Banker Danforth & Associates.