Is Mountlake Terrace, WA a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Mountlake Terrace is a seller's market


Difference Since August 2022

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

How much do homes in Mountlake Terrace, WA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in Mountlake Terrace have sold for 16.4% less than they did a year ago.

Summary: The median home sold price in Mountlake Terrace was $609,996 in August 2023, down 16.4% from last year, and the median price per square foot was $446.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $288K$319K
2 $458K$450K
3 $750K$625K
4 $862.5K$799K
5+ $1.0M$790K

Summary: Mountlake Terrace housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes decreased by 25.3%.

Median Sold Price Compared To Nearby Cities

Mountlake Terrace

Housing Supply

How many homes are available in Mountlake Terrace, WA?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

Summary: The Mountlake Terrace real estate market had 58 homes for sale in August 2023, a 9.4% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 12
2 1818
3 1824
4 1010
5+ 64

Summary: The Mountlake Terrace housing inventory by bedroom type for August 2023 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 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mountlake Terrace, you could pay more than the asking price. 55% of homes here sold above asking price last month.

Summary: A total of 20 homes were sold or pending in Mountlake Terrace in August 2023, up by 5.3% month-over-month. Of the 20 sold homes, 30% were sold under asking, 15% were sold at asking, and 55% were sold over asking.

Days on Market

How long does it take to sell a home in Mountlake Terrace, WA?

Average Sale Time

Aug 2022Aug 2023CHANGE
12 Days19 Days+52.6%

Summary: Homes in Mountlake Terrace had an average of 19 days on market in Aug 2023, up by 52.6% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Mountlake Terrace are selling fast, if you're buying plan to act quickly.

Summary: During August 2023, 20 homes were sold in Mountlake Terrace; 85% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 25 Days Ago

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Nearby Markets

What housing markets are near Mountlake Terrace, WA?