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Snohomish
County Market Update | November 2, 2025 By Kat
Howard | Real Estate Insights The Snohomish County housing market is showing renewed energy this
October, helped along by a welcome dip in mortgage rates. Over the past several weeks, the number of homes going
under contract has consistently outpaced new listings and demand continues at a
fairly steady pace. Inventory levels have finally begun to decrease over the
past month, which is consistent with normal real estate trends. Inventory & Market Activity Last week, 91 new listings came on the market, while 104 homes went
pending, slightly outpacing the new supply. With just 1.9 months of inventory,
the market still favors sellers, though buyers are finding more breathing room
than during the intense winter/early spring cycle. Market supply (MSI) has increased 33% year over year, and the
number of resale homes available is up 39%. Meanwhile, the total number of
closings fell 10% from last October. When it comes to showings, homes that went pending required an
average of 13 showings, with a median of 10. But overall, the average listing
in Snohomish County was shown just 5.1 times this month, proof that being fully
prepared and competitively priced when you hit the market is absolutely
essential. How Fast Are Homes Selling? Momentum seems to come and go, but overall pace has been fairly
consistent since mid-summer. Properly priced, well-presented homes are still
selling fairly quickly: · 26% of
homes listed between Oct 19–25 went under contract within 7 days. · 34% of
homes listed between Oct 5–18 sold within 14 days. While the median days on market sits at 20, the average has
stretched to 37, reflecting slower movement for overpriced or underprepared
properties. Contract Trends The fall market has brought somewhat more balanced negotiations. Of
the contracts accepted between Oct 26–Nov 1: · 28%
received multiple offers · 48%
included an inspection contingency · 80%
carried a financing contingency This points to heading towards a more traditional, healthy market,
one where buyers and sellers are both active participants, not just spectators
in a bidding war. Sales Outcomes Only 23% of homes sold above list price over the past 30 days.
Here’s how that breaks down: · 8% sold
for 3%+ over list price · 4%
exceeded list by 5%+ · 1% hit
10%+ over list price Still, 45% of homes sold below asking, a strong reminder
that pricing and presentation remain the two most powerful levers in today’s
market. Ten percent (of the total homes sold) sold for 5% or more below list,
and 3% went for 10% or more below. Buyers are savvy, well-informed, and unwilling to chase overpriced
listings. The Bottom Line Interest rates have dropped nearly three-quarters of a percent
since late August, sparking fresh buyer interest. The Fed’s signals of
additional rate cuts have kept some buyer optimism alive, though the recent
government shutdown has added some more recent uncertainty. Since late September, the number of pending homes has slightly
outpaced new listings, a promising (and seasonal) sign of renewed fall
activity. But with inventory up 33% year over year and sales down 10%, we may
not see the typical “winter/early spring surge” this February through April. Expect continued multiple offers on the best-prepared, best-priced
listings, and a pool of leftover summer/fall inventory still ripe for
negotiation come January. The Takeaway Sellers: Homes that are priced right and presented beautifully
still capture strong early offers. Buyers: Opportunity abounds, with less competition and room for
meaningful negotiation. The Snohomish County market has shifted from summer slowdown to
autumn opportunity, and those who read the market, not just the headlines, are
the ones winning this season.
— Kat Howard
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