Mountlake Terrace is a community with an interesting history. Previously known as “Alderwood Manor”, this area was first settled at the turn of the century when the logging industries flourished.
Subsequently the land was platted into “ranches” for the growing of mink, chinchillas and poultry. The residential community of Mountlake Terrace began with the speculative construction of homes for returning WWII veterans and their young families. Within 10 years the population had grown to 5,000 and a group of civic minded residents took steps to create a municipal government. At once the citizens set to work building a full range of its growing population. The community boasts the Ballinger Park Municipal Golf Course at Lake Ballinger, a recreation pavilion and pool; 12 parks with ball fields, tennis courts, and picnic sites.
Real Estate Market Stats
Home Size in Square Feet
|Zillow Home Value Index||$452,900||$215,600|
|Median Single Family Home Value||$474,800||$214,600|
|Median Condo Value||$288,400||$227,200|
|Median 2-Bedroom Home Value||$369,100||$165,100|
|Median 3-Bedroom Home Value||$466,200||$207,000|
|Median 4-Bedroom Home Value||$538,000||$336,200|
|Percent Homes Decreasing||0.4%||23.4%|
|Median List Price Per Sq Ft||$363||$134|
|Median Sale Price||$452,900||$238,700|
|Turnover (Sold Within Last Yr.)||5.4%||2.9%|