Facebook
X
Pinterest
Copy Link
August 8, 2025
Transitioning to a Balanced Market
The Snohomish County residential market is moving toward a balanced market—where the number of homes for sale matches the number of buyers, giving neither side a significant advantage. Inventory has steadily increased over the past three months: 1.47 months in May, 1.94 in June, and 1.97 in July. (This means that if no new homes were listed, the current inventory would sell out in about 1.97 months
At 1.97 months of inventory, July saw the highest supply since October 2022—and the highest July level since 2014. This shift is driven not by falling demand (pending sales are down only slightly year-to-date), but by a significant increase in supply, up 48% YTD.
Key Numbers:
- Active Listings 1731 Homes. Up 48.2% from 1,168 in July 2024.
- Pending Sales YTD 5788 Homes. Down 2.05% from 5,909 in July 2024.
- Closed Sales YTD 4668 Homes. Down 0.05% from 4,695 in July 2024.
- Median Price $805,000. Down 1.6% from $818,419 in July 2024.
- Days on Market Median CDOM (Cumulative Days On Market) 14 days. Up 100% from 7 days in June 2025.
Prices typically peak in spring and summer, then soften through fall and winter. In Snohomish County, however, prices have stayed relatively flat since March 2022—$805,000 today compared to $800,000 in March 2022.
Buyer Behavior has shifted
Buyers now have more negotiating power. With more options available, they’re becoming more selective and feeling less urgency, willing to wait for the right home. Negotiations often include not just price and closing costs, but also terms—financing, structural, and title contingencies are increasingly common
Rates and the Road Ahead
Interest rates: Down slightly from 6.9% in July 2024 to 6.7% in July 2025
A drop in rates could quickly reignite demand a put upward pressure on prices. Takeaway for Buyers: Buying now and refinancing when rates drop is often better financially than waiting—by then, increased competition could drive home prices higher.
Sellers
Homes prepared for the market matter more than ever. Flaws do not get overlooked. Showings are down. Don’t give buyers a reason to walk away. Takeaway for Sellers: Listen to the advice of your trusted realtor as to what to fix from the pre-inspection you have conducted. Be prepared to price at the lower end of the range. You don’t want to get stuck sitting on the market.
Buyers
While you have more time and flexibility, competitively priced homes still sell fast. Takeaway for Buyers: Stay focused and be ready to act (for example, be pre-approved or pre-underwritten if you’re getting a loan).
The Market:
Inventory and prices will likely decline as we move into the third and fourth quarters. Over the past three years, prices have dropped 5% to 19% between July and December, and similar mid- to late-year adjustments appear increasingly likely. Takeaway for Buyers: Waiting could save you money as prices may drop later this year. Takeaway for Sellers: Now’s the time to price smart and sell before the market cools.
If you know a friend, family member, or colleague who needs a trusted realtor, your referral is the highest compliment.
Perry
Helping People. Building Legacies.
