Million-dollar homes are few and far between in Mill Creek

By Dan Aznoff | Aug 31, 2017

Homes along the tree-lined streets of Mill Creek are still a relative bargain compared to properties in King County. But that is a trend that is sure to end in the next few years, according to a survey of Realtors that serve the community.

A survey released in August by the Internet Real Estate site Zillow indicated that the number of million-dollar homes in King County is growing at pace that is greater than almost every other region of the country. One of the areas of King County that showed the largest number of seven-figure properties was in Bothell, just across the county line from Mill Creek.

“We have $800,000 homes in Mill Creek, but only a handful of them are above $1 million,” said Windermere Realtor Cassy Reichelt, who has lived in Mill Creek for 20 years.

“There are only three properties listed above $1 million in Mill Creek. And those are either on acreage or have prime locations on a golf course.”

According to Zillow, the number of million-dollar homes in Bothell has increased almost 40 percent in the past few years. That percentage of increase is topped on the Eastside by only the city of Sammamish and the lakeside neighborhoods of Bellevue and Mercer Island.

Reichelt said the average price of a single-family home in Mill Creek topped $500,000 for the first time this summer. She thinks it is only a matter of time until the million-dollar listing is the rule instead of the exception in her home town.

Realtor Mike McDonnell has been appraising property in north King and south Snohomish County for 37 years. He said only 5 percent of the properties in Mill Creek could demand a price of more than $1 million. And those properties are not often available. Part of the reason, he said, is a lack of capacity in the city’s sewer system to handle larger homes.

“Properties like that do not change hands very often,” McDonnell told The Beacon. “We sold one last year on Fairway Fountain that was over 10,000 square feet.”

He said one other property on the Evergreen Golf Course was listed last year for $1.19 million. The home eventfully sold for $1.15 million.

“Prices are just beginning to peak above their high points in 2007,” he said. “There are probably only 20 or 25 homes in all of Mill Creek that could demand more than a million dollars.”

The highest-priced homes in the city, McDonnell said, are on the Evergreen Golf Course near Seattle Hill Road. His only current listing for more than $1 million is a 6,500-square-foot home with five bedrooms, 3.75 baths with dual islands in the oversized kitchen, a 500-plus bottle wine cellar and views of the fairway from wrap-around decks on two levels of the home.

“Plus all the amenities you’d expect in a house that is listed for $1,799,950”

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