Snohomish County Real Estate Market Insight: April 2025 As spring unfolds, Snohomish County’s housing market continues to show signs of transition. While inventory is growing, demand remains steady, resulting in a market that is still competitive for well-positioned listings. Inventory on the Rise Snohomish County’s months of inventory increased to 1.1 months. Last week, 182 new listings were added—a welcome sign for buyers who have been waiting for more selection. Strong Year-Over-Year Growth Comparing March 2025 to March 2024: · New listings rose 33% · Total homes for sale jumped 75% · Homes under contract increased 22% This year-over-year growth points to renewed market energy as both buyers and sellers re-engage this season. Offer Review Strategies Still Effective 41% of sellers are utilizing Offer Review Dates (ORDs) to attract multiple offers and streamline negotiations. From April 18th to 24th: · 36% of listings that went under contract received multiple offers. · 32% included an inspection contingency. · 64% included a financing addendum. Homes Are Still Moving Quickly Speed remains a defining feature of the market: · 52% of homes listed April 6–12 were under contract in 7 days or less. · 53% of homes listed March 23–April 5 were pending within 14 days. Closed sale data: · Average days on market: 15 · Median days on market: 5 · 50% of homes sold above asking · 18% sold for 5%+ over asking · 8% sold for 10%+ · 2% sold for 15%+ · 1% sold for 20%+ · 24% sold for less than list price Final Thoughts While inventory is increasing, buyer demand remains solid. Sellers with well-prepared, well-priced homes are still achieving top-dollar results. Buyers will have more choices as we move through spring into early summer. |