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.
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
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
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
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.