Mountlake Terrace Housing Market Report December 2024•Snohomish County, Washington

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Housing Prices in Mountlake Terrace, WA

How much do homes in Mountlake Terrace, WA cost?

Housing Market Conditions

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

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Mountlake Terrace is a Seller's Market

Difference Since December 2023

Since last year, Mountlake Terrace has remained a Seller's Market.

Insight

Mountlake Terrace is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$650,000$468/SqFt
+$20,000
+3.2%

Based on all homes sold in the last 12 months

Insight

Homes in Mountlake Terrace have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in Mountlake Terrace was $650,000 in December 2024, up 3.2% from last year, and the median price per square foot was $468.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Edmonds
+16.9%
Lynnwood
+4.7%
Shoreline
+3.2%
Mountlake Terrace
+3.2%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$325K$332.2K
+2.2%
2$450K$457.5K
+1.7%
3$642.8K$670K
+4.2%
4$770K$800.1K
+3.9%
5$790K$817.5K
+3.5%

Summary: Mountlake Terrace housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +2.2%. The home price for 2 bedroom homes increased by +1.7%. The home price for 3 bedroom homes increased by +4.2%. The home price for 4 bedroom homes increased by +3.9%. The home price for 5 bedroom homes increased by +3.5%.

Housing supply in Mountlake Terrace, WA

How many homes are available in Mountlake Terrace, WA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
34Last MonthDec 2024
422 months agoNov 2024
-19.0 %
Change MoMNov – Dec

Summary: The Mountlake Terrace real estate market had 34 homes for sale in Dec 2024, a 19.0 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
14Last MonthDec 2024
172 months agoNov 2024
-17.6 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
100
0.0%
21311
-15.4%
32114
-33.3%
465
-16.7%
524
+100.0%

Summary: Mountlake Terrace housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -15.4%. The inventory for 3 bedroom homes decreased by -33.3%. The inventory for 4 bedroom homes decreased by -16.7%. The inventory for 5 bedroom homes increased by +100.0%.

Asking Price vs. Sold Price

How much do homes in Mountlake Terrace, WA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price6 Homes

At Asking Price4 Homes

Under Asking Price4 Homes

Insight

If you're buying a home in Mountlake Terrace, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Mountlake Terrace in December 2024, down by 17.6% month-over-month. Of the 14 sold homes, 29% were sold under asking, 29% were sold at asking, and and 43% were sold over asking.

Days on Market for Mountlake Terrace, WA

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

Breakdown of Home Sale Times

Under 30 Days12 Homes

30 – 90 Days2 Homes

Over 90 Days0 Home

Insight

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

Summary: During December 2024, 14 homes were sold in Mountlake Terrace; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
13 DaysThis YearDec 2024
23 Days1 year agoDec 2023
-41.3 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Mountlake Terrace had an average listing age of 13 days in Dec 2024, down by 41.3% compared to the previous year.

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Newest Listings in Mountlake Terrace, WA

What homes are available in Mountlake Terrace, WA?

New listings aren’t available for Mountlake Terrace, WA

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