Mountlake Terrace homes sell faster than anywhere else, report says

MOUNTLAKE TERACE — This south Snohomish County city has the fastest-selling homes in the nation, according to a new report from the Puget Sound Business Journal.

Listings on the market at the ZIP code 98043, where Mountlake Terrace is located, lasted an average of only 27 days on the market in the second quarter of this year, the Business Journal reported based on an analysis of data from Black Knight Inc., a real estate analytics company. In the same time period, the average home spent 81 number of days on the market nationwide.

Why the high demand? Well, the city of just over 21,000 residents features relatively affordable homes for first-time buyers compared to nearby cities, according to local real estate agents.

“There’s a shortage of homes, and particularly starter homes, in this country and in this area,” said Craig Forehand, manager at the Lynnwood branch of John L. Scott.

https://www.heraldnet.com/news/mountlake-terrace-homes-sell-faster-than-anywhere-else-report-says/