What September’s Numbers Reveal About the Silver Lake & Everett Market

You’ve likely noticed what I have — in September, things feel a bit different in Silver Lake and Everett. Homes are staying listed longer, buyers have more room to negotiate, and sellers are making more concessions than they have in years. But before anyone calls it a ‘crash,’ let’s look at what the data actually says for our neighborhoods and what it means if you own a home here.

1. Supply Has Grown — But Not Exploded

In September 2025, inventory levels across the Northwest Multiple Listing Service (NWMLS) rose by roughly 27% compared to the same time last year, with more than 20,000 active listings on the market. In Everett specifically, available homes increased by close to 40%, as more homeowners decided to test the waters before winter. Silver Lake followed a similar pattern, showing signs that more sellers are stepping forward after sitting tight for most of the year. Despite this jump in supply, it’s important to note that we haven’t reached an oversupply situation. Inventory actually ticked down slightly from August to September, suggesting the market may be finding its balance. For homeowners, this means you’ll face a bit more competition if you list, but the overall environment remains steady — not saturated.

2. Prices Are Retreating Slightly

The median sales price across the NWMLS area in September was about $630,700 — a modest 0.7% decrease from the same month last year. Compared to August, prices dipped around 3%, reflecting a shift toward more realistic buyer expectations rather than a sharp market correction. This adjustment shows that while home values have softened slightly, they remain strong for properties that are well-presented and appropriately priced. For homeowners, this signals that pricing strategically is more important than ever. Buyers are comparing options, and overpriced listings are the ones sitting on the sidelines. The message here is simple: price to attract attention, not to test the market.

3. Days on Market Are Stretching — Especially for Less-Than-Perfect Listings

If it feels like homes are taking longer to sell, that’s because they are. The average home in Snohomish County now spends about 24 days on the market, up from just 12 days this time last year. Other data sources show that certain properties are taking as long as 40 days to sell, depending on their location and condition. In Northwest Everett, listings are still moving a bit faster, with a median of around 21 days. The bottom line: even well-maintained homes are no longer flying off the market in a weekend. Buyers have more time to shop and negotiate, and they’re using it. This slower pace can work in a seller’s favor, too — with the right preparation and marketing, your home can still attract qualified buyers who are serious about closing.

4. Negotiation Power Is Shifting — Seller Concessions Are More Common

As rates eased slightly to around 6.27% in September, more buyers began reentering the market — but they’re doing so with caution. Instead of overbidding, buyers are negotiating for value. It’s become common for sellers to offer concessions like closing-cost credits or rate buy-downs to help buyers offset higher borrowing costs. This trend doesn’t mean sellers are desperate — it simply reflects a market that’s rebalancing. For homeowners, it’s worth preparing mentally and strategically for this kind of give-and-take. Offering small incentives can sometimes be the key to keeping a deal together without slashing your asking price. Think of it as being competitive, not compromising.

5. What This Means for Homeowners in Silver Lake & Everett

For homeowners thinking about selling, the message is clear: the market is no longer racing ahead, but it’s far from collapsing. Now is the time to approach selling like a professional — prepare thoroughly, price intelligently, and expect to negotiate. Homes that are clean, well-staged, and priced right are still selling well, while those that are outdated or overpriced are seeing longer timelines. If you’re not planning to sell soon, this is still a good time to take stock of your home’s equity position. Even small gains in a stable market add up over time, and making minor updates now could put you in a great position when momentum picks up again.

6. Looking Forward: What September Predicts for Q4 and Into 2026

Looking ahead, the fourth quarter is likely to bring a slower but steady market. Inventory should remain relatively consistent, with perhaps a small seasonal dip heading into winter. Prices may flatten further, especially for homes that need work, while desirable listings in Silver Lake and Everett’s core neighborhoods should continue to draw interest. If mortgage rates hold steady or even dip slightly, we may see a fresh wave of buyers by early 2026. All signs point to a market that’s finding its footing — one that rewards patience, preparation, and realistic expectations.

📞 Schedule Your Market Review: Call Charles Dizon at (206)853-2680   

Understanding what the numbers really mean is half the battle. The other half is knowing how to act on them. Whether you’re curious about your home’s current value, considering listing early next year, or just want clarity on where things are headed, I’d love to help you navigate the data and make confident decisions for your future.