SNOHOMISH COUNTY HOUSING MARKET FORECAST
Home Prices, Market Trends, Graphs Video and Infographics
SNOHOMISH COUNTY HOUSING MARKET AT A GLANCE
Click Image To View Full Size
TABLE OF CONTENTS
3 KEY INDICATORS
Snohomish County Housing Market
- SALES ACTIVITY INTENSITY:
- 62% (SURGE)
- INTEREST RATE:
- 6.81% (MANAGEABLE)
- INVENTORY LEVEL:
- 1.3 Months (SHORTAGE)
THE BIG DEAL
Despite higher rates and tight supply, Snohomish County’s housing market is charging ahead. 62% of homes are going pending in the first 30 days, and inventory is razor-thin at 1.3 months—clear signs we’re deep in Surge territory. With mortgage rates steady at 6.81%, buyers aren’t waiting around. Demand is strong, homes are selling fast, and competition is heating up. If you’re planning to make a move this spring, the window is wide open—but it won’t stay that way for long.More Listings, Fierce Demand, and Homes Moving Fast in Snohomish County Surge Season
Spring has officially taken hold in Snohomish County, and the housing market is buzzing. With more listings rolling out and buyers staying active despite higher borrowing costs, we’re seeing a classic case of supply trying to catch up with demand—but not quite getting there.
Inventory has ticked up slightly to 1.3 months, but that’s still well below the 3-4 months needed for balance. The Sales Activity Intensity™ is sitting at a strong 62%, meaning nearly two-thirds of homes are going under contract in the first 30 days. And with interest rates holding at 6.81%, buyers are adapting and staying in the game.
This report builds off last month’s snapshot and gives you the full breakdown of what’s happening across resale and new construction markets. Whether you're buying, selling, or just curious, this is the market update you don’t want to miss.
Detailed Explanation of the 3 Key Indicators
-
Sales Activity Intensity:
- Definition: This metric reflects the percentage of homes that go under contract within the first 30 days of listing. It's a direct indicator of the market's temperature, showing how quickly homes are moving from listing to pending status.
- Scale:
-
-
-
- <25%: Buyer's market – low demand, homes take longer to sell.
- 25%: Healthy market – balanced demand and supply.
- 35%: Strong market – increasing demand, sellers have a slight advantage.
- 45%: Very strong market – high demand, multiple offers are common.
- 55%: Surge – very high demand, significantly more buyers than available homes.
- 65%: Frenzy – extreme demand, homes sell extremely quickly, often well above asking price.
- 75%+: Extreme frenzy – unprecedented demand, highly competitive conditions.
-
Monthly Inventory Levels:
- Definition: This measures the number of months it would take to sell all current listings at the current sales pace without any new listings being added. It's a critical indicator of market balance.
- Scale:
- 0-1 month: Severe shortage – extremely low inventory, seller's market.
- 1-2 months: Shortage – low inventory, strong seller's advantage.
- 2-3 months: Low – less inventory, leaning towards sellers.
- 3-4 months: Healthy – balanced between buyers and sellers.
- 4-5 months: Selectability – more options for buyers, slight buyer's advantage.
- 5+ months: Buyer's market – high inventory, buyers have leverage.
-
Interest Rates:
- Definition: This refers to the average mortgage rate available to homebuyers. Interest rates are a significant factor affecting affordability and buyer demand.
- Scale (not a fixed scale but commonly accepted ranges):
- 3-4%: Excellent – very favorable for buyers.
- 5-6%: Good – relatively affordable for most buyers.
- 7-8%: Uncomfortable – can slow down buyer activity as financing becomes more expensive.
- 9-10%: Challenging – high rates can lead to decreased demand and slower market activity.
Sales Activity Intensity:
- Definition: This metric reflects the percentage of homes that go under contract within the first 30 days of listing. It's a direct indicator of the market's temperature, showing how quickly homes are moving from listing to pending status.
- Scale:
-
-
- <25%: Buyer's market – low demand, homes take longer to sell.
- 25%: Healthy market – balanced demand and supply.
- 35%: Strong market – increasing demand, sellers have a slight advantage.
- 45%: Very strong market – high demand, multiple offers are common.
- 55%: Surge – very high demand, significantly more buyers than available homes.
- 65%: Frenzy – extreme demand, homes sell extremely quickly, often well above asking price.
- 75%+: Extreme frenzy – unprecedented demand, highly competitive conditions.
-
Monthly Inventory Levels:
- Definition: This measures the number of months it would take to sell all current listings at the current sales pace without any new listings being added. It's a critical indicator of market balance.
- Scale:
- 0-1 month: Severe shortage – extremely low inventory, seller's market.
- 1-2 months: Shortage – low inventory, strong seller's advantage.
- 2-3 months: Low – less inventory, leaning towards sellers.
- 3-4 months: Healthy – balanced between buyers and sellers.
- 4-5 months: Selectability – more options for buyers, slight buyer's advantage.
- 5+ months: Buyer's market – high inventory, buyers have leverage.
Interest Rates:
- Definition: This refers to the average mortgage rate available to homebuyers. Interest rates are a significant factor affecting affordability and buyer demand.
- Scale (not a fixed scale but commonly accepted ranges):
- 3-4%: Excellent – very favorable for buyers.
- 5-6%: Good – relatively affordable for most buyers.
- 7-8%: Uncomfortable – can slow down buyer activity as financing becomes more expensive.
- 9-10%: Challenging – high rates can lead to decreased demand and slower market activity.
Each of these indicators plays a crucial role in interpreting the dynamics of the Seattle housing market. By analyzing trends within these metrics, we can better understand the forces at play, predict future movements, and strategize accordingly. Whether you're looking to buy a home, sell one, or simply keep an eye on market developments, these indicators provide the insights needed to navigate the complexities of Seattle's real estate landscape.
⚡ Sales Activity Intensity™
Snohomish County is in full Surge Mode this May, with a Sales Activity Intensity™ of 62%. That means nearly two-thirds of homes are going under contract within the first 30 days—clear proof that buyers are back in full force and moving fast.
-
🕒 Average Days on Market: 23
-
👀 Showings to Pending: 11
-
🎯 Hot Zone: $500K–$800K — this is where the action is fiercest
Buyers are laser-focused on move-in ready homes in that sweet spot, and they’re bringing strong offers when the home checks the right boxes. Homes that miss the mark on pricing or presentation? They’re getting skipped over.
📌 What This Means:
For Buyers: Pre-approval is your golden ticket. You’re in a market where speed and clean offers count. Don’t wait for perfect—if it’s close, be ready to jump.
For Sellers: The momentum is yours. Homes priced right and polished up are flying off the shelf. Get ahead of the curve before inventory climbs later this season.
🏘️ Monthly Inventory Levels
Snohomish County's inventory is sitting at just 1.3 months—still a long way from balanced. With 1,333 new listings, 966 pendings, and 903 closings, we’re seeing a steady flow, but demand is keeping pressure on supply.
That translates to high visibility for sellers and limited breathing room for buyers.
📌 What This Means:
For Buyers: Inventory is improving slightly, but the market’s still tight. Partner with a sharp broker and move fast when something fits.
For Sellers: Low competition means high buyer traffic. Listing now means fewer homes to compete with—and potentially more offers.
💸 Interest Rates
Mortgage rates are holding steady at 6.81%, and while that’s not “cheap money,” buyers are adjusting. We're seeing renewed activity as folks realize this could be the new normal for a while.
📌 What This Means:
For Buyers: Don’t sit on the sidelines waiting for rates to drop. Consider rate buydowns, adjustable options, or asking for seller concessions.
For Sellers: Smart sellers are offering closing cost help or rate buydowns to keep their home attractive without slashing price.
📈 Overall Market Trends
Snohomish County is running lean on inventory and strong on demand. Homes are selling at 100.7% of asking, averaging just 23 days on the market, with especially tight competition under $800K.
Higher-end listings are slower but steady—luxury buyers want quality, lifestyle, and turnkey features.
✅ Key Takeaways
For Sellers:
✔ Price it right and prep it well—today’s buyers won’t bite on overpricing
✔ Listing now gives you an edge before more inventory arrives in late spring
For Buyers:
✔ Pre-approval is your edge—don’t shop without it
✔ Be flexible and creative—terms matter just as much as price right now
🏡 Residential Resale, Condos & New Construction
🏠 Resale Snapshot:
-
Avg. Sale Price: $818,324
-
Avg. DOM: 23 days
-
Sold-to-List Ratio: 100.7%
🏢 Condos:
Condos remain a great entry point—especially for first-time buyers.
-
Avg. Sale Price: $575,000
-
New Listings: 216
-
Closed Sales: 144
-
Avg. DOM: 25 days
-
Sold-to-List: 100.8%
-
Inventory: 1.9 months
-
Price/SqFt: $410
📌 Heads-up: HOA dues play a big role in total cost—don’t overlook them.
🧱 New Construction:
-
Avg. Sale Price: $910,288
-
Inventory: 1.7 months
-
Avg. DOM: 35 days
-
Sold-to-List Ratio: 100.6%
-
Price/SqFt: $414
-
Showings to Pending: 7
Trends:
📌 Builders offering rate buydowns, appliance upgrades, and closing cost credits
📌 Turnkey, energy-efficient homes are top of buyers’ wish lists
📌 Flex spaces (think offices and home gyms) are still a hit
🏠 Rent vs. Buy
-
Avg. 3-Bedroom Rent: $3,100/month
-
Estimated Mortgage on $500K Home @ 6.81%: ~$3,100/month (with 20% down)
📌 Bottom Line: If you’re staying put for 3+ years, buying beats renting. You’re building equity, locking in your cost, and reaping long-term rewards—even at today’s rates.
🏦 The Fed’s Influence
No big rate drops expected until late 2025. That means 6–7% is the playing field for now.
📌 Buyers: Don’t gamble on rates—rising prices can cancel out future savings.
📌 Sellers: Offer financing perks to stand out without giving up on price.
🌸 Seasonality
We’re deep into the Spring Surge Phase. Listings are rising, buyers are active, and competition is hot.
📌 What This Means:
For Sellers: List now to beat the wave of late spring competition.
For Buyers: Don’t wait for summer—more listings are coming, but so are more offers.
April Showers Bring May ListingsApril’s economic variations, driven by tariff tensions, have spurred shifts in the stock market and interest rates, leading to emotional fluctuations that have begun to settle as we move into May. Looking ahead, May is historically the peak month for new listings, driven by families preparing for summer and wrapping up the school year. This seasonal shift brings a surge of both sellers and motivated buyers into the market. The combination of increased inventory, potential interest rate relief, and school-year transitions fuels strong sales activity and sets the stage for June closings. J Lennox Scott
LENNOX SCOTT
CEO of John L. Scott Real Estate
Snohomish County Real Estate GRAPHS & Data
Snohomish County is running hot this May, with inventory holding tight at 1.3 months—deep in seller’s market territory. That means if no new listings came online, we’d run out of homes in just 39 days. And with 62% of homes going pending within the first 30 days, buyer urgency is showing no signs of slowing down.
-
✅ 966 homes went pending this month
-
🔑 903 homes closed
-
🎯 $400K–$1M price range is where the action is fiercest
-
🏡 Even in the luxury tier ($1.5M+), homes with updates, outdoor living, and top-tier locations are still getting scooped up
Buyers aren’t waiting. Despite mortgage rates hovering around 6.81%, competition is high, and well-positioned homes are drawing serious attention—often with multiple offers.
📉 Why Low Inventory Keeps Pressure On
-
Under 2 months of supply = extreme seller's market
-
Tight supply + high demand = upward price pressure
In short: sellers have the advantage, but buyers are still very much in the game.
🔑 Key Takeaways:
📌 For Buyers:
This market moves fast. Get pre-approved, know your top number, and be ready to act the moment a solid home hits the market. The $400K–$1M range is highly competitive, so clean offers and smart strategy are key.
📌 For Sellers:
You’re in a strong position—but only if your home shows well and is priced right. Buyers are active, but selective. Stage it, shoot it well, and list it now while the market’s still running lean. The best window for multiple offers is wide open—just don’t wait too long.
DAYS ON MARKET
Homes in Snohomish County are moving quickly this spring, averaging just 23 days on market in May 2025. That’s a clear drop from the longer winter timelines and a sharp reminder: buyers are ready, willing, and not wasting time.
In hot price bands—particularly between $400K and $1M—homes are often going pending in a week or less. Even listings in higher price points are seeing faster traction when they’re turnkey, well-located, and marketed right.
This fast pace is being driven by a mix of low inventory and motivated buyers who understand that waiting could mean higher prices later this year.
🔑 What This Means:
📌 For Buyers:
You don’t have days to decide—you have hours. Tour early, come prepared, and if it feels right, act fast. A clean, well-written offer with strong terms can make all the difference when time is tight.
📌 For Sellers:
23 days on market is your benchmark—but top homes are going even quicker. That first weekend is your prime time, so make it count. Nail the staging, the pricing, and the photos, and you’ll likely be reviewing offers before Monday hits.
PRICE
-
Home prices in Snohomish County continue to climb, with the average sale price hitting $818,324 in May 2025. That’s up from $802,168 in March, showing that even in a higher-rate environment, this market isn’t losing steam. Low inventory and strong buyer demand are still driving competition—especially in the sweet spot between $500K and $800K.
📊 By Property Type – May 2025:
-
🏠 Single-Family Homes: $879,833
-
🏢 Condos: $575,000
📈 5-Year Appreciation (May 2020 to May 2025):
-
Overall Market: Up 54.5% (from $529,673 to $818,324)
-
Single-Family Homes: Up 54.9%
-
Condos: Up 38.6%
That’s not just solid growth—it’s standout performance. Over five years, homeowners in Snohomish County have built serious equity, far outpacing inflation and national averages.
💵 Pricing Dynamics
-
List-to-Sale Price Ratio: 100.7%
-
Condos: 100.8%
-
Homes in the $500K–$800K range continue to draw multiple offers
-
Properly priced homes are moving fast, often above asking
🔑 Key Takeaways:
📌 For Sellers:
You’ve gained real value—and now might be the perfect time to capitalize. Buyers are actively chasing well-presented, fairly priced homes. If you’ve got smart updates and curb appeal, you’re likely looking at a fast sale and strong return.📌 For Buyers:
Rates are what they are—but prices are still climbing. Locking in a home now not only protects you from future appreciation, it also gets you into a market with a proven track record for long-term value. Ownership here is still one of the smartest wealth-building plays you can make. -
Snohomish County has officially entered the Spring Surge Phase, according to the John L. Scott 6 Phases of the Yearly Housing Cycle. This is the most active and competitive time of the year—when listings spike, buyers get serious, and homes start flying off the market.
Here’s what typically comes with this phase:
🌷 A wave of new listings as sellers aim to ride the spring buying wave
🚪 Increased foot traffic at open houses, as better weather brings out ready-to-act buyers
⚔️ More competition, especially under $1M, where demand is white-hot in areas with good schools and great commutes
And the numbers back it up: 966 homes went pending, 903 closed, and the average days on market is down to 23. Inventory is still tight at 1.3 months, meaning early movers—both buyers and sellers—are getting a leg up before summer’s market wave hits.
🔑 What This Means:
📌 For Sellers:
You’re in the sweet spot. List now while competition is still manageable and buyer energy is high. Homes that are clean, staged, and priced right are seeing quick sales and multiple offers.
📌 For Buyers:
Yes, more homes are on the way—but so are more offers. Getting in now, before the full weight of spring competition builds, could mean a smoother path to landing your next home. The $500K–$800K range is already intense, and it’s only heating up from here.
JOB AND POPULATION GROWTH
WA Employment Security Department
[Source: U.S. Census Bureau]
Snohomish County Housing Market Stats
STATS PROVIDED BY: INFOSPARK
RESIDENTIAL RESALE
- $818,324 was the average sold price for listings in Snohomish County.
- 1,333 new listings went on the market this month.
- 1,575 homes were for sale during the month.
- 966 homes went pending in Snohomish County.
- 903 homes sold this month
- 1.3 months of inventory available in Snohomish County.
- 23 was the average days on market for a home to sell in Snohomish County.
- 100.7% was the average listing price vs. sales price percentage
- $427 was the average price per square foot in Snohomish County.
- $738,946,856 was the total closed sales volume for Snohomish County.
- 6.81% was the interest rate
- 62% of homes sold in the first 30 days in Snohomish County.
- 11 Average showings to go Pending
- 5.3 Showings per Listing
NEW CONTSRUCTION
- $910,288 was the average sold price for new construction in Snohomish County
- 134 new construction listings went on the market this month
- 293 new construction homes were for sale during the month
- 148 new construction homes went pending in Snohomish County
- 156 new construction homes sold this month
- 1.7 months of new construction inventory available in Snohomish County
- 35 was the average days on market for new construction to sell
- 100.6% was the average listing price vs. sales price percentage
- $414 was the average price per square foot in Snohomish County
- $142,004,937 was the total closed sales volume for Snohomish County
- 6.81% was the interest rate
- 7 Average showings to Pending
- 1.6 Showings per Listing
Snohomish County Housing Market Summary
Snohomish County’s housing market is full throttle this May. Tight inventory, fast-moving sales, and resilient buyer demand are keeping this market in solid seller’s territory—even with mortgage rates holding at 6.81%.
Here’s what the numbers are telling us:
✅ 903 homes sold
🚀 966 homes went pending — buyers are still outpacing new listings
📦 Inventory sits at just 1.3 months, keeping competition high
⏱ Average Days on Market: 23
⚡ Sales Activity Intensity™: 62% — most homes are under contract within a month
Even with 1,333 new listings, demand continues to absorb fresh inventory fast, especially in the $500K–$800K price range where buyer activity is white-hot. And higher-end homes over $1.5M? They’re seeing steady action too—particularly when they offer premium features, outdoor space, and strong school districts.
🎯 Competitive Zones
The $500K–$800K range remains the market’s front line—where homes are going fast and often above list. In that band, multiple offers are the norm. If you’re shopping here, or selling, timing and strategy are everything.
💡 Pricing & Strategy
Sellers still have the upper hand—but pricing smart and presenting well is key. Staged, move-in ready homes are getting snapped up fast. Overprice or underwhelm? You risk sitting—and missing the Spring Surge momentum.
🔭 Looking Ahead
As we head deeper into spring, expect:
📈 More listings hitting the market
🧍♂️ More buyers jumping in
⚔️ More competition in every price point
Buyers are adapting to rates, and long-term appreciation continues to make Snohomish County a standout place to build wealth through homeownership. Acting early in the season gives both sides an edge before the peak hits full tilt.
🔑 Final Takeaway
Whether you’re buying or selling, timing is everything. Move early, move smart, and work with a local expert who knows how to win in a fast-paced market. The opportunities are here—just don’t wait until they’re gone.
Share this post!
