Is Montlake, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Montlake has remained a Seller's Market.
Key Takeaway
Montlake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montlake, WA
How much do homes in Montlake, WA cost?
Median Sold Price
$1,092,000
$556/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Montlake have sold for 7.1% less than they did a year ago.
Summary: The median home sold price in Montlake was $1,092,000 in April 2024, down 7.1% from last year, and the median price per square foot was $556.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $519.9K | $455.5K | -12.4% |
| 2 Bedrooms | $665K | $630K | -5.3% |
| 3 Bedrooms | $1.1M | $1.2M | +2.1% |
| 4 Bedrooms | $1.8M | $1.8M | +3.6% |
| 5+ Bedrooms | $1.9M | $1.7M | -7.8% |
Summary: Montlake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.4%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 7.8%.
Housing Supply in Montlake, WA
How many homes are available in Montlake, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 16 | +33.3% |
Summary: The Montlake real estate market had 16 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Montlake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montlake, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Montlake in April 2024, up by 20.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Montlake, WA
How long does it take to sell a home in Montlake, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 17 Days | 13 Days | -20.3% |
Summary: Homes in Montlake had an average of 13 days on market in Apr 2024, down by 20.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montlake are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Montlake; 83% of homes were sold within 30 days, 17% 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.