Demand for West Bellevue’s real estate down inventory increasing
By Adrian Willanger, Profit from my two decades of experience
(206 909-7536 AdrianWillanger-broker.com)
Demand for West Bellevue’s real estate down inventory increasing This Week:The median list price this week in West Bellevue is $2,200,000 down from last week’s $2,229,000. The Market Action Index (MAI see chart below) has been trending down lately, while inventory is climbing. These trends imply a weakening market. TAverage days-on-market (79 days) down from last week’s (81). Average price per sq ft. ($547). Supply and DemandThe market has been cooling over time and prices have recently 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 pri...
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