When shopping for a house – typically the biggest purchase of your life – it's good to know whether you or the seller is in the driver's seat, and in the Seattle metro region that depends on where you are.
Sellers have the upper hand in Mountlake Terrace, and it's buyers who have the power in Sumner. This is according to a new report that Zillow released Friday.
Locally, Mountlake Terrace is the top sellers' market. Here, according to the Northwest Multiple Listing Service (NWMLS), the median sales price of houses and condos last month was $318,500, up 27 percent from a year ago. The market in this part of Snohomish County is hamstrung – or helped, depending on one's perspective – by what the NWMLS measures as only a two month inventory of homes for sale. A market that's balanced between buyers and sellers has a four- to six-month supply. In Mountlake Terrace (population 20,200) proper, there are only 37 houses and condos on the market, according to the NWMLS.