Mill Creek and Bothell (98012) Home Market Update

Six month snapshot through November 9, 2026

The Short Version

• 312 single family homes closed in zip code 98012 over the last six months, at a median price of $1,000,000. The average was $1,039,547.

• The median home sold in 22 days. About two thirds sold in roughly 13 days. The remaining third took close to three months.

• Sellers received 98.3% of their asking price on average. Forty one percent of homes sold at or above list, and 59% sold below it.

• 176 homes are for sale today, which represents about 3.4 months of supply. Roughly one in five has already reduced its price.

• Mill Creek sells somewhat faster than the Bothell addressed portion of the zip code, and it carries less inventory.

Why 98012 and Not Just Mill Creek

A zip code and a city are different boundaries. Zip code 98012 extends beyond the city limits of Mill Creek and includes homes with Bothell mailing addresses, some of them in unincorporated Snohomish County. Buyers tend to search by zip code or school district rather than by city line, so this report examines the full zip code and then separates it into two parts. Of the 312 sales, 83 were in Mill Creek and 229 carried Bothell addresses.

For the city alone, see our Mill Creek Home Market Update. For the broader context, see our Snohomish County Home Market Update. This report sits between the two.

Pace and Pricing

Between May 9 and November 9, 2026, the average sold price was $1,039,547 and the median was $1,000,000, or about $440 per square foot. Closings were remarkably steady, holding between 45 and 57 a month through the summer and fall, with 6 more in the first nine days of November.

The median home sold in 22 days on market. The average is higher, at about 40 days, because a minority of homes lingered and pulled it upward. Homes sold at 98.3% of asking on average. That is close to full price without quite reaching it.

Fast Sales Versus Slow Sales

Dividing the sales at the 40 day average reveals two distinct experiences.

• 203 homes (65%) sold within that window. They averaged 13 days on market and sold for 98.8% of asking.

• 109 homes (35%) took longer. They averaged 89 days and sold for 97.4% of asking, which on a $1,000,000 home amounts to roughly $14,000.

The pattern held across price ranges. Homes under $800,000, between $800,000 and $1.2 million, and above $1.2 million all sold in similar timeframes and at similar shares of asking. In this zip code, the price tier does not determine how quickly a home sells. Accurate pricing does.

Mill Creek Compared with the Rest of 98012

Pricing and sale to list ratios are nearly identical on both sides. Pace and inventory are not. Mill Creek homes sold about a week faster and carry less supply, which favors sellers. The Bothell portion is more balanced, and it also has far more listings that were cancelled or expired, 205 against 35. Part of that gap reflects the same home being listed more than once, which we address below.

For the city level view, including how it has moved from month to month, see the Mill Creek Home Market Update.

Current Inventory

176 homes are for sale in 98012, with an average asking price of $999,063 and a median of $929,950. The average listing has been active for 99 days, well beyond the 40 days it took the typical sold home. Of those 176 homes, 136 (77%) have passed that mark, and 69 have been listed for more than 100 days.

Sellers are adjusting. The 38 homes with price cuts have reduced their asking prices by about 3.5% on average. The largest reductions were 3132 187th Place SE, from $1,229,000 to $1,099,000, and 3310 162nd Place SE, from $1,145,000 to $1,029,000. Others include 3212 193rd Place SE, from $850,000 to $769,000, and 3015 183rd St SE, from $905,000 to $850,000.

Another 240 listings left the market without selling during this window. 178 were cancelled and 62 expired. Cancelled listings had been active for about 87 days on average, and expired listings for about 113. A caution on those totals: many homes were listed, withdrawn, and listed again. 87 homes did so at least once. Of those, 26 eventually sold and 24 are active again. One home appears six times in the data. The count of distinct homes that failed to sell is therefore lower than 240.

The pattern mirrors what we see in Mill Creek proper. A relisting helps only when something changes, and the variable that matters most is usually price.

What This Means for Sellers

Pricing is decisive in the first few weeks. Homes that sold quickly kept nearly 99% of their asking price, while those that lingered for roughly three months gave up another point and a half. If your home has been listed for three or four weeks without an offer, that is useful information rather than a verdict, and it is a good moment to discuss what buyers are signaling.

At 3.4 months of supply, the zip code is reasonably balanced. Mill Creek leans toward sellers, and the Bothell portion leans modestly toward buyers. An early price adjustment generally costs less than one made at day 100. To see how this compares with the rest of the county, read our Snohomish County Home Market Update.

What This Means for Buyers

There is more room to negotiate than the headlines suggest. More than half of homes sold below asking, and roughly one in five current listings has reduced its price. The strongest leverage tends to sit with homes that have been listed the longest. Mill Creek moves a bit faster, so the Bothell side of the zip code usually offers more flexibility. There is no need to rush, but each home deserves its own analysis, because no average can tell you what a specific house is worth.

Compared with Last Month

This is the first 98012 report, so no prior month is available for comparison. Next month’s edition will include one. For month over month movement within the city of Mill Creek, see the Mill Creek Home Market Update.

Key Terms

• CDOM (cumulative days on market): the total number of days a home has been listed. The count carries over if a listing is cancelled and relisted, so a reset does not erase the history.

• Median: the midpoint of the data. Half of the homes sold for more and half sold for less. It is a more reliable measure of a typical home than the average, which a handful of high priced sales can inflate.

• Sale to list ratio: the final sold price as a percentage of the last asking price. A ratio of 98% means the home sold for 2% below asking.

• Months of supply: the time it would take to sell all current listings at the recent sales pace. Roughly six months is considered balanced. Fewer favors sellers, and more favors buyers.

Methodology

This report covers single family homes in zip code 98012, Snohomish County, Washington, using data from NWMLS Matrix pulled on November 9, 2026. Sold figures reflect closings between May 9 and November 9, 2026. Active figures reflect current inventory, and pending homes are not counted as active. Cancelled and expired figures use the same six month window. Price reduction figures come from the recent change shown in Matrix, which rounds to the nearest $1,000 and shows only the latest change, so true reductions may be somewhat higher. One listing at $22,000,000 appears to be a data entry error and is excluded from the average asking price. The Mill Creek portion of this report contains one fewer sale than the separate Mill Creek report, because a small number of Mill Creek city records fall outside zip code 98012. This is a snapshot in time, not a forecast.

About Becca Locke

Becca Locke is a Real Estate Advisor serving Mill Creek, Bothell, Edmonds, and Snohomish County with over 20 years of experience and 500+ closed transactions. Specializing in first-time purchases, downsizing and rightsizing transactions, and cross-country relocations to the Mill Creek and Bothell area. Locke Real Estate at Real Broker LLC. Washington license #23740. Top 2% of NWMLS agents.

beccalocke.com | 206.920.6500