⚡ Sales Activity Intensity™

Snohomish County stayed firmly in Surge Mode this June, with 57.2% of homes going pending in the first 30 days. That’s a small drop from May’s 62%, but still a clear sign that demand is red hot—buyers are showing up, pre-approved, and ready to compete.

🕒 Average Days on Market: 20
👀 Showings to Pending: 10
🎯 Hot Zone: $500K–$800K – Still the heart of the action

Buyers are circling move-in-ready homes like hawks. The right home in the right price range? It’s getting scooped up fast—often with multiple offers. On the flip side, homes that overreach on price or skimp on presentation? Crickets.

📌 What This Means

For Buyers: Get serious, get pre-approved, and be ready to strike. You don’t need to overpay—but you do need to move fast when the right home hits.
For Sellers: The energy’s still on your side, but buyers are more selective. Price to match the market and bring your A-game on presentation to maximize your outcome.

🏘️ Monthly Inventory Levels

Snohomish County’s inventory crept up to 1.6 months in June—up from 1.3 last month, but still far below the 4–6 months considered “balanced.” With 1,766 new listings, 1,071 pending sales, and 911 closings, we’re seeing plenty of movement, but the market remains tight.

Supply is trying to keep up, but demand isn’t letting go. For now, sellers continue to hold the upper hand—but buyers are getting a bit more time and leverage.

📌 What This Means

For Buyers: The window is opening slightly—more listings mean more chances. Just don’t assume you’ve got time to linger.
For Sellers: Low competition still works in your favor. List now, before the late-summer slowdown and rising inventory make standing out tougher.

💸 Interest Rates

Rates inched up to 6.95%, but the market hasn’t blinked. Buyers have adjusted to this new normal, and in many cases, they’re using rate buydowns and creative financing to keep their payments in check.

📌 What This Means

For Buyers: Don’t let the rate stop you—there are ways to soften the blow. Focus on the bigger picture: equity, stability, and long-term value.
For Sellers: Offering a rate buydown or closing cost help can attract more buyers and stronger offers—without slicing your asking price.

📈 Pricing vs. Historical Pricing

Snohomish County prices are holding steady, with a few surprises. Here's how things stack up:

🏡 Residential Resale

• June 2025 Avg. Price: $844,570
• June 2020 Avg. Price: $848,238
• Net Change: -0.4%

Resale prices are nearly flat over five years—not a loss, but not a gain either. It’s a reminder that while the market is strong now, it took a few detours along the way.

🧱 New Construction

• June 2025 Avg. Price: $964,511
• June 2020 Avg. Price: $1,055,499
• Net Change: -8.6%

Builders have gotten more competitive on price, which means buyers are scoring better deals and added incentives.

🏢 Condos

• June 2025 Avg. Price: $589,936
• June 2020 Avg. Price: $623,727
• Net Change: -5.4%

Condos are still a great entry point, but pricing has softened—creating a solid opportunity for first-time buyers.

📌 What This Means

For Buyers: You're buying into a market that’s corrected and stabilized. Now is a strong entry point for long-term growth.
For Sellers: You may not be at your pandemic peak, but with demand high and inventory low, you’re still in a strong position—especially if your home is dialed in.

✅ Key Takeaways

For Sellers:
✔ This is your moment—especially if you’re under $800K.
✔ Prep, price, and market right to attract top-tier buyers.
✔ Consider incentives to stand out without cutting your price.

For Buyers:
✔ Pre-approval is non-negotiable.
✔ The $500K–$800K range is competitive—come in strong and clean.
✔ Explore creative financing and builder incentives to maximize affordability.

🏠 Rent vs. Buy

• Avg. 3-Bedroom Rent in Snohomish County: $3,100/month
• Estimated Mortgage on $500K Home @ 6.95% (20% down): ~$3,100/month

📌 Bottom Line: If you're planning to stay put for 3+ years, buying is the smarter move. You’ll lock in your monthly cost, build equity, and hedge against future rent hikes. Even in a higher-rate environment, ownership continues to be a long-term wealth builder.

🏦 The Fed’s Influence

No fireworks from the Fed just yet. Major rate cuts aren’t expected until late 2025, which means we’re likely living in a 6–7% mortgage world for the foreseeable future.

📌 What This Means

For Buyers: Don’t play the waiting game. Rising home prices could erase any savings from future rate drops.
For Sellers: Financing incentives—like rate buydowns or closing cost help—are powerful tools. Use them to keep your home competitive and attractive without slashing your list price.

🌸 Seasonality: The Spring Surge is in Full Swing

We’re deep in the Spring Surge Phase, the most active and competitive time of year in the Snohomish housing cycle. That means:

• Listings are up
• Buyers are out in force
• And competition—especially under $800K—is fierce

With 1,766 new listings and 1,071 pendings, the market’s got heat, momentum, and urgency. Inventory may have climbed slightly, but the demand is keeping things tight.

📌 What This Means

For Sellers: This is your window. List now, while buyer energy is high and competition is still relatively low.
For Buyers: More homes are coming, but so are more offers. The early birds are landing homes—so stay prepared and move quickly.