Mountlake Terrace home prices increase by 8.8 percent, sales up 23.1 percent

mltnews

Home prices in Mountlake Terrace were up 8.8 percent in January compared to this time last year.

Sales were up 23.1 percent from last year with 16 homes sold, according to Redfin, a national real estate brokerage company.

Much like the greater Seattle area, Mountlake Terrace is grappling with a shortage of available homes for sale. At the current sales pace, it would take 0.8 months for all of the homes on the market to sell. Six months of supply is considered a balanced market.

The median home price was $277,500 — $277,500 for single family homes and $280,000 for condos and townhomes. Homes spent a median 23 days on the market.

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