08/24/2026
# Mill Creek 98012 Real Estate Market Update – July 2026
If you’ve been wondering what’s happening in the **98012 Mill Creek area real estate market**, July’s numbers tell an interesting story. Buyers have considerably more homes to choose from than they did a year ago, homes are taking longer to sell, and prices have softened in the residential market. Condos, however, are telling a somewhat different story.
According to the **Northwest Multiple Listing Service (NWMLS)**, 118 new residential listings came on the market in July, up **34.1%** from 88 last July. At the same time, pending sales dropped **9.1%**, and closed sales declined **23.1%** compared with July 2025.
One of the biggest changes is inventory. There were **226 residential homes for sale**, compared with 134 a year ago—a **68.7% increase**. Months of inventory nearly doubled, going from 2.3 months to **4.5 months**.
Homes are also taking a little longer to sell. The median time on market increased from 19 days last July to **24 days this July**. Year to date, the change is even more noticeable, with days on market increasing from 17 days in 2025 to **32 days in 2026**.
# # # What About Home Prices?
The median residential sales price in July was **$986,444**, down 7.4% from $1,064,950 in July 2025. Year to date, the median price sits at **$1,000,000**, compared with $1,068,000 through July of last year.
Sellers received an average of **98.2% of their list price** in July, compared with 99.5% a year ago.
For sellers, this reinforces something I talk about often: **pricing and presentation matter.** With substantially more inventory available, buyers have choices. A home that is well prepared and priced appropriately for today's market has a better opportunity to stand out.
# # # Condos Are Showing a Different Trend
The condo market in 98012 is worth watching. The July median condo sales price was **$561,250**, up 4.9% from last year. Year to date, the median condo price reached **$655,000**, a 15.4% increase over the same period in 2025.
Condo inventory also increased significantly, however. There were 60 condos for sale in July compared with 40 last year, and months of inventory increased from 2.9 to **4.7 months**.
# # # What Does This Mean for Buyers and Sellers?
For **buyers**, the increase in inventory may provide something we haven't seen as much of in recent years: **more choices, more time to make decisions, and potentially more negotiating opportunities.**
For **sellers**, homes are still selling, but today's market calls for a thoughtful strategy. Pricing a home based on today's competition—not yesterday's market—is increasingly important.
Real estate is always local, and even within the same ZIP code, price range, property type, condition, and neighborhood can make a big difference.
If you're thinking about buying or selling and would like to know what these numbers could mean for your particular situation, feel free to reach out.
**Karl Fleck**
Real Estate Broker | License #117253
Century 21 Real Estate Center
Serving King, Snohomish & Skagit Counties and the Greater Pacific Northwest
**karlflecksellshomes.com**
**I’m here to help. You can do it!**
*Market data provided by Northwest Multiple Listing Service (NWMLS). July 2026 report, current as of August 3, 2026.*
