New Listings Dropped in Half This Week. Buyers Didn’t Get the Memo

New listings fell 52% this week in Snohomish and North King County. That sounds alarming. But before you read too much into it, here’s the important context: July 4th fell on a Saturday this year, and this report covers that full holiday weekend. New listings almost always drop sharply during holiday weeks. Sellers take a break. Agents take a break. That part is completely normal.

What’s not always normal is what buyers did. They didn’t slow down at all.

This Week’s Numbers (Week Ending July 5, 2026)

• 211 New Listings (down 52% from 441)
• 327 Pending Sales (up from 298, +10%)
• 289 Homes Sold (up from 267, +8%)
• 242 Price Reductions (down from 354, -32%)
• 5 Price Increases (down from 9)
• 42 Back on Market (up from 21)
• 67 Expired Listings (up from 24)
• 87 Canceled Listings (down from 134, -35%)
• 8 Contingent

Sellers Stepped Back. Buyers Didn’t.

The gap between new listings and pending sales tells the clearest story. Last week that gap was +143, meaning new listings were outpacing pending sales. This week, pending sales actually outnumbered new listings by 116. The gap flipped completely.

Now, a big chunk of that is the holiday effect compressing new listings. So don’t read it as a sudden demand explosion. But read it for what it is: buyers stayed active through a holiday weekend while inventory tightened up. That’s a meaningful signal about where demand actually stands.

Price Reductions Dropped Sharply

One of the most encouraging numbers this week is the drop in price reductions, from 354 down to 242. That’s a 32% decline in a single week.

Some of that reflects the holiday week — fewer active listings means fewer opportunities to reduce. But it also reflects sellers who are still competing choosing to price more accurately from the start rather than list high and cut later. Buyers responded. Pending sales went up and sold homes climbed too.

Expired Listings Jumped. Here’s Why That’s Not All Bad.

Expired listings almost tripled this week, from 24 up to 67. That looks dramatic. But there are two things to keep in mind.

First, holiday weeks tend to produce more expirations because fewer agents and sellers are available to extend or relist during the week. Second, a lot of these are likely older listings that have been sitting on the market without selling. When those finally expire instead of dragging on with repeated price cuts, it actually helps clean up the available inventory pool.

So the jump in expirations is worth watching, but it’s not a red flag on its own. Expect to see some of those homes relist in the coming weeks at more competitive prices.

What This Means If You’re Selling

Buyers were out there even through a holiday weekend. That matters. It tells you demand is still real, and it’s there for homes that are priced and presented correctly.

The drop in price reductions also tells you something useful. Sellers who came in this week priced to match the market didn’t need to cut. If your home is sitting right now, the price is usually the place to start looking for answers.

What This Means If You’re Buying

Inventory got thinner this week, but that’s a holiday week effect. Expect more listings to come back on the market over the next couple of weeks as sellers who stepped back for the holiday get back out there.

In the meantime, if you’ve been watching a specific home or neighborhood, a quieter week like this is actually a good moment to move. There are fewer competing buyers right now than there were a week ago.

The Bottom Line

Don’t read too much into any single holiday week number. The drop in new listings is expected and temporary. What matters more is that buyers stayed active, price reductions fell, and canceled listings dropped 35%. Those are signs of a market where demand is holding and sellers are getting more realistic about pricing.

Next week’s numbers will tell us a lot more as the market comes back to full activity after the holiday.

If you want to talk through what this means for your specific situation, reach out anytime. I’m happy to walk through it with you.

Data sourced from Snohomish & North King County MLS activity, week ending July 5, 2026.