Is Mountlake Terrace, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer'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
$609,996
$446/sqft
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
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $288K | $319K | +10.8% |
| 2 Bedrooms | $458K | $450K | -1.7% |
| 3 Bedrooms | $750K | $625K | -16.7% |
| 4 Bedrooms | $862.5K | $799K | -7.4% |
| 5+ Bedrooms | $1.0M | $790K | -25.3% |
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%.
Housing Supply
How many homes are available in Mountlake Terrace, WA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 53 | 58 | +9.4% |
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
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 18 | 18 | 0.0% |
| 3 Bedrooms | 18 | 24 | +33.3% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
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 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
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 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 12 Days | 19 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
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.
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 © 2023 Northwest MLS. All rights reserved.