Snohomish & North King County Market Update (Last 7 Days)

Snohomish & North King County Market Update (Last 7 Days)

Over the past week, the market saw a surge in activity, with more listings, more sales, and more buyers getting homes under contract. At the same time, we’re seeing a significant increase in price reductions, showing that buyers are still very sensitive to pricing.

Key numbers:

• 436 New Listings (up from 346)
• 359 Homes Pending (up from 286)
• 349 Homes Sold (up from 248)
• 384 Price Reductions (up from 251)
• 11 Price Increases (up from 4)
• 36 Back on Market (up from 26)
• 44 Expired Listings (up from 33)
• 125 Canceled Listings (up from 87)

What this shows is that demand improved this week, with pending and sold activity increasing substantially. However, the biggest story may be the 384 price reductions, which outpaced the increase in buyer activity. Sellers are continuing to adjust expectations as buyers remain selective and focused on value. The increase in canceled and expired listings also suggests some sellers are choosing to pause rather than compete.

Bottom line: The market remains active, but pricing strategy is becoming even more important. Buyers are purchasing homes, but they’re rewarding properties that are priced correctly and overlooking those that miss the mark.

Want to know how this affects you? Reach out and we can plan your next move together!