Let’s talk about the housing market in Lynnwood, Shoreline, and Mountlake Terrace. You know how your favorite coffee shop never changes the menu, but every now and then they swap the seasonal latte? That’s basically what’s happening in the housing world right now—steady, predictable, but with a hint of change coming.
Existing-home sales across the country held stable in August, and here at home, the local vibe is about the same. That means no major meltdowns, no dramatic spikes—just a market that’s cruising along like your neighbor’s Subaru on I-5.
Nationally, sales came in at a 4.0 million annual rate—barely changed from July, but up 1.8% from last year. That’s about 75% of pre-pandemic levels, which sounds like a bad grade on a math test, but in housing terms, it’s what we’ve been living with since 2022: a constrained yet stable market.
For buyers in Lynnwood, Shoreline, and Mountlake Terrace, this means the same game we’ve been playing for years: inventory is still tight, but it’s not getting worse. And in a world where everything from eggs to gas to Netflix subscriptions feels unpredictable, a little consistency in real estate is kind of refreshing.
Here’s where things get interesting: mortgage rates are starting to chill out, and inventory is slowly improving. It’s like when your kid finally decides to sleep through the night—suddenly, life feels a little easier.
In Lynnwood, where commuters love the convenience to I-5 and the new light rail expansion, more inventory means more chances to snag something close to future transit hubs.
In Shoreline, buyers with families can breathe easier knowing that competition for homes near top-rated schools might not feel quite as cutthroat.
In Mountlake Terrace, which has become a hidden gem for people wanting value near Seattle, an uptick in listings could mean finally finding that backyard big enough for the dog (or the trampoline you promised the kids).
In the West, home sales actually ticked up 1.4% in August, with the median price hitting $624,300. That’s up 0.6% from last year. Prices aren’t skyrocketing, but they’re not tanking either—kind of like your favorite restaurant that raises prices by a buck and hopes you don’t notice.
For our local cities, that means values are holding steady, and if rates keep easing, demand could start picking up steam again. Translation: if you’re planning to buy, don’t nap too long.
Here’s the housing market data, simplified so you don’t need a finance degree:
Inventory: 1.53 million homes nationwide (slightly down from July, but nearly 12% higher than last year).
Supply: 4.6 months’ worth of homes—same as last month, but better than last year’s 4.2 months.
Median price: $422,600 nationwide, up 2% year-over-year.
Time on market: 31 days. Houses aren’t selling overnight anymore, but they’re not gathering cobwebs either.
First-time buyers: Still 28% of the market, which means plenty of people are getting their foot in the door (literally).
Locally, homes in Lynnwood, Shoreline, and Mountlake Terrace still move fast when they’re priced right. The difference is buyers now have a little more breathing room—no need to sell your soul and write a 12-page love letter to the seller just to stand a chance.
With light rail on the way and more homes hitting the market, Lynnwood is a sweet spot for buyers who want to invest now before demand spikes.
Families love Shoreline for the schools, and now slightly easing rates make those neighborhoods just a little more attainable.
For buyers who want access to Seattle without paying Seattle prices, Mountlake Terrace remains a golden option—and stable rates make budgeting easier.
Don’t panic. Yes, inventory is up slightly and rates are easing, but homes in these markets are still moving. If you’ve got a well-priced home in Shoreline, Lynnwood, or Mountlake Terrace, buyers are out there. And with more families jumping in thanks to lower rates, you could see stronger offers than you might expect.
Here’s the bottom line: the market isn’t booming, but it isn’t breaking either. For buyers in Lynnwood, Shoreline, and Mountlake Terrace, now is the time to get pre-approved and lock in a loan while rates are cooperating. For sellers, stability means the right listing strategy can still attract motivated buyers.
At Home Right Lending, we’re here to make sure you get the right mortgage for your situation—without the jargon, the stress, or the feeling that you need to Google every term your lender throws at you.
Call us today to get pre-approved, explore FHA, VA, conventional, or jumbo loans, and make your next move in Lynnwood, Shoreline, or Mountlake Terrace with confidence.
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