Record Price Reductions, Strong Pending Sales. The Market Is Sending Mixed Signals.

This week’s numbers don’t tell a clean story in one direction. Price reductions hit a new high in our tracking series. At the same time, pending sales hit their strongest number since mid-June and sold homes jumped 20%. Both sides of the market got more active this week.

Here’s what that actually means.

This Week’s Numbers (Week Ending August 2, 2026)

• 464 New Listings (up 22% from 381)
• 318 Pending Sales (up 12% from 283)
• 261 Homes Sold (up 20% from 217)
• 401 Price Reductions (up 15% from 350, new high in our tracking)
• 22 Price Increases (up 38% from 16, also a new high)
• 34 Back on Market (flat)
• 37 Expired Listings (flat)
• 138 Canceled Listings (up 12% from 123, new high)
• 5 Contingent

Supply and Demand Both Surged. Supply Won.

New listings jumped 22% this week, from 381 back up to 464. That’s the second highest week in our tracking period. Buyers showed up too. Pending sales rose 12% and sold homes climbed 20%. The market is busy.

But here’s the math: when supply jumps 22% and demand responds by 12%, the gap widens. New listings outpaced pending sales by 146 homes this week, up from 98 last week. That’s the second highest gap in our tracking, behind only the 167 we saw the week of July 12.

Price Reductions Hit a New High

Two weeks ago, price reductions had declined for back-to-back weeks, dropping from 388 down to 350. That trend is done. This week they came in at 401, the highest number in our eight weeks of tracking.

What does 401 price reductions tell you? It tells you that a large portion of the current inventory pool is sitting at prices buyers won’t pay. Sellers are adjusting. But for every seller who adjusts, there’s another one that just listed too high and will need to cut next week or the week after.

The cycle isn’t breaking. It’s accelerating.

But Buyers Are Actually More Active

Here’s the part of the story that doesn’t fit the simple “market is struggling” narrative. Pending sales at 318 is the best week since mid-June. Sold homes at 261 is up 20%. Price increases hit 22, a new high for our tracking period.

Buyers are out there. They are stepping up and making offers. They’re just doing it on a smaller percentage of the total available inventory, because there’s more of it than ever right now.

The homes getting offers — and even pushing price up — are the ones that came to market at the right number in the first place. That’s a consistent pattern across every week we’ve tracked this summer.

The 8-Week Picture

The gap trend across the full period we’ve been tracking:

Week of 6/16: +40 homes Week of 6/21: +84 homes Week of 6/28: +143 homes Week of 7/5: -116 homes (July 4th holiday, not meaningful) Week of 7/12: +167 homes (peak) Week of 7/19: +85 homes Week of 7/26: +98 homes Week of 8/2: +146 homes

After two weeks of the gap narrowing, it shot back up this week. The pattern is volatile week to week, but zooming out, the gap has been between 85 and 167 for the past four weeks (excluding the holiday). That’s a consistent buyer’s market — not extreme, but steady.

What This Means If You’re Selling

The data this week has one clear lesson for sellers: get the price right before you list, not after.

At 401 price reductions, the market is correcting a large volume of homes that came to market above what buyers will pay. By the time a seller cuts price, they’ve already lost the window of highest attention. Buyers notice new listings. They pay less attention to price cuts.

This week also showed that buyers are active and ready to move on the right homes. The homes getting offers — and pushing price upward — are the ones that were priced correctly from day one.

What This Means If You’re Buying

If you’re in the market or thinking about getting in, this is about as much selection as you’ll have all year. New listings at 464, price reductions at a record high, and canceled listings climbing — all of that points to motivated sellers and more negotiating room than a year ago.

Pending at 318 is a reminder that competition is picking up too. The well-priced homes are still moving. But the volume of options available to you right now is real, and it’s not something to take for granted.

The Bottom Line

This week was active. Buyers and sellers were both in the market in meaningful numbers. But supply grew faster than demand, and price reductions hit a new high. The market is functioning — deals are getting done — but it continues to reward buyers and punish sellers who aren’t pricing for where the market actually is.

Reach out anytime if you want to talk through what this means for your specific situation.

Data sourced from Snohomish & North King County MLS activity, week ending August 2, 2026.