Mill Creek Beacon - Your Hometown News Source

Lower inventory, higher interest rates have turned up the heat in an already hot residential real estate market


Last updated 5/3/2018 at Noon

This Mill Creek condominium was only on the market for five days before it sold for $10,000 more than the asking price. Mill Creek Realtor John Roka explained that low inventory coupled with higher interested rates has created a new level of frenzy among potential buyers.

It seemed impossible, but the scorching hot market for residential real estate in Mill Creek has become even more competitive as prices continue to climb at a pace that exceeds the record-setting increases in Seattle and the Eastside.

The median price of a home in King and Snohomish County surged by almost 9 percent between this last month and March of 2017. Those numbers pale by the jump in the sale price of homes in Mill Creek, where the value of homes seem to increase before the new owners could even move in, according to Mill Creek resident Cassy Reichelt with Windermere Real Estate in...

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