Is Mountlake Terrace, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mountlake Terrace has remained a Seller's Market.
Key Takeaway
Mountlake Terrace is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mountlake Terrace, WA
How much do homes in Mountlake Terrace, WA cost?
Median Sold Price
$637,000
$451/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mountlake Terrace have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Mountlake Terrace was $637,000 in May 2024, up 2.3% from last year, and the median price per square foot was $451.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $319K | $384.9K | +20.7% |
| 2 Bedrooms | $455K | $505K | +11.0% |
| 3 Bedrooms | $627K | $649.9K | +3.7% |
| 4 Bedrooms | $819K | $802.5K | -2.0% |
| 5+ Bedrooms | $812.5K | $832K | +2.4% |
Summary: Mountlake Terrace housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.7%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 3.7%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 2.4%.
Housing Supply in Mountlake Terrace, WA
How many homes are available in Mountlake Terrace, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 39 | +11.4% |
Summary: The Mountlake Terrace real estate market had 39 homes for sale in May 2024, a 11.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 16 | 10 | -37.5% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 3 | 11 | +266.7% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Mountlake Terrace housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 37.5%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 266.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 16 | -5.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mountlake Terrace, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Mountlake Terrace in May 2024, down by 5.9% month-over-month. Of the 16 sold homes, 13% were sold under asking, 13% were sold at asking, and 75% were sold over asking.
Days on Market for Mountlake Terrace, WA
How long does it take to sell a home in Mountlake Terrace, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 6 Days | -43.2% |
Summary: Homes in Mountlake Terrace had an average of 6 days on market in May 2024, down by 43.2% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mountlake Terrace are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Mountlake Terrace; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.