If it seems as though houses on the market are sold quickly in Mountlake Terrace, your feelings have been confirmed by data collected and released last week by a national business publication.

The Business Journals, published in Seattle as the Puget Sound Business Journal, reported last week that sales of houses in Mountlake Terrace were closed faster during the second quarter of 2024 than anywhere else in the U.S.

Properties sold in the 98043 ZIP code (Mountlake Terrace) closed in an average of 27 days, the Journal reported, beating the number-two ZIP code of 94703 (in Alameda County, California) by two days.

The Journals’ data also noted that the sale of 50 Mountlake Terrace properties were closed during the April-June 2024 period, with an average sales price of $649,134.

The ranking surprised Mountlake Terrace Mayor Kyoko Matsumoto Wright, who is also a licensed real estate agent. “I have noticed that most of our listings sell but I didn’t realize we were the fastest in the nation,” Wright said.

The second quarter 2024 period included the favorable spring buying/selling period for residential properties and came just a few months before the much-anticipated opening of the Sound Transit light rail Lynnwood Link that included a station at the Mountlake Terrace Transit Center.

“I think we are selling because of our location, amenities and growth,” Wright noted. “And we are still affordable compared to Seattle.”

Affordability is a factor for the competitive, fast-selling real estate market in Mountlake Terrace, said Bobby Nadjafi, an agent with RSVP Real Estate.

“I think this area fits the bill for first-time buyers and young families due to the price point of homes,” Nadjafi said. “That adds fuel to the fire.”

Cameron Ferguson, an agent with Real Residential Real Estate, pointed to favorable cost-per-square-foot numbers for homes in South Snohomish County as a component of the quick sales here. “You can get a little more space here,” she said.

“This is a really good school district too, the Edmonds School District,” Ferguson added.

Like Wright, Ferguson was surprised that Mountlake Terrace landed at the number one ranking in the list of fastest-selling homes in the country during second-quarter 2024. “That’s funny to me because I would have thought Seattle would be there,” she said. “Right now it’s softened a little bit given it’s October, but last spring it was very busy.”

While Mountlake Terrace was listed at number one in the country, it wasn’t the only Puget Sound ZIP code that found its way on the list. The 98014 ZIP code (Carnation) tied for third; 98155 (Lake Forest Park/Shoreline, just south of and across the King/Snohomish County line from Mountlake Terrace) and 98034 (Kirkland and Juanita) tied for sixth. The 98177 ZIP code (Shoreline) and 98007 (Bellevue) tied for 10th.

Twenty-four of the top 28 zip codes with the fastest-selling residential properties during second-quarter 2024 were in either Washington state or California.

Fastest-selling home sells by ZIP code, April-June 2024 (top six according to The Business Journals publication)

1 – 98043 (Mountlake Terrace, Washington), average of 27 days on the market

2 – 94703 (Alameda County, California), average of 29 days on the market

3 (tied) – 98014 (Carnation, Washington), average of 30 days on the market

3 (tied) – 94925 (Marin County, California), average of 30 days on the market

3 (tied) – 95118 (Santa Clara, California), average of 30 days on the market

6 (tied) – 98155 (Lake Forest Park / Shoreline, Washington), average of 31 days on the market

6 (tied) – 98034 (Kirkland / Juanita, Washington), average of 31 days on the market

— Story and photos by Doug Petrowski