Bothell Home Supply Update: August 2014

August 12, 2014

Home closings in Bothell, located in both King and Snohomish counties, have increased 18% compared to July 2013. In the last 30 days (as of this writing on August 12, 2014), 142 houses and 43 condos have closed in Bothell. Currently, there are 359 single family homes, 74 condos and 23 parcels of land for sale. 166 of these homes are new construction, or about 38% of Bothell's home market.

Overall home supply is currently 2.6 months, which indicates a seller's market. As a reference point, four to six months of inventory is considered an optimum balance of supply and demand. 

Bothell is home to neighborhoods including Flagstone, Parkhaven and Copper Ridge at North Creek. Some of Western Washington's most respected homebuilders are building in the new developments in Bothell as well, including Toll Brothers Camwest and MainVue Homes.

Currently the average listing price for a single family home in Bothell is $497,176 for a 2,528 square foot home, or $197 per square foot. In the past six months the average closing price was $453,187 for a 2,358 square foot home, or $192 per square foot.