Real Estate Listings • April 24, 2025

NEW LISTING: Custom-Built Garden Cottage in Popular Tangletown

by Don Koonce

5623 Kirkwood Place N #1
Seattle, WA 98103
$820,000

MLS #2358368
CLIP #7444195008
Beds: 1
Baths: 1
Type: Condominium
Year Built: 2014
Lot Size Area: 592.00 sqft
Heating: Radiant
Cooling: None
HOA Fee: $21 Monthly

Custom built garden cottage in popular Tangletown! Personality plus created by Seattle’s award-winning Microhouse Architects, a showcase of hand-selected Northwest finishes and ultra-efficient interiors. Tongue & groove vaulted ceilings, open beams, concrete & wood floors, floating stairs, open railings, big windows & skylights all work together for lite & airy living on every level. Posh designer kitchen open to living/dining & outdoor patios for easy entertaining, large home office/guest bedroom. No-wasted-space, clever storage tucked everywhere + attached casita for bikes, outdoor gear, & hobbies. Hi-end appliances, radiant floor heat, lo utility & lo maintenance costs. Walk to all Greenlake’s favorites for fun & recreation, perfect lock & go living!

Click here for more details.

Real Estate News & Information • April 22, 2025

Local Market Update – April 2025

by Don Koonce

Tulips are blooming, the days are growing longer, and the housing market is showing clear signs of seasonal momentum. Inventory continued its steady rise in March, with all four markets posting double-digit year-over-year gains in new listings. Condo inventory saw especially sharp increases — a continuing trend partly driven by the growing appeal of non-traditional “condo” alternatives like townhomes, ADUs, and backyard cottages. Whether these inventory gains will ease affordability remains to be seen as interest rates, trade dynamics, and broader economic forces continue to shape the path ahead.

In March, King County’s median residential sold price rose 3% year over year, increasing from $945,500 to $977,500. Active residential listings jumped 50%, giving buyers a wider range of options. However, closed residential sales only grew by 3%, potentially reflecting ongoing economic uncertainties in the market. In the condo segment, the median sold price increased 9% from $540,000 to $590,000, while active listings surged 77% — signaling a notable shift in supply and buyer opportunity.

Seattle’s median residential sold price reached $1 million in March — an 8% increase from $925,000 in March of last year. Despite the rise in prices, market activity accelerated: pending sales were up 12% compared to a year prior, while active listings climbed 31%. Seattle’s condo market also gained momentum, with the median sold price increasing 7% to $627,650, up from $587,500. Active condo listings grew 55%, helping supply the high demand for more affordable options.

On the Eastside, the median residential sold price in March rose just 2% year over year – from $1,682,500 to $1,710,000 – a modest gain by Eastside standards. After months of steady price appreciation, affordability may be emerging as a limiting factor, with closed sales down 8% compared to March of last year. Inventory, however, continues to rise: active listings were up 86%, giving buyers more choices and potentially more negotiating power. Meanwhile, the Eastside condo market remained a standout — the median sold price rose 16% annually, and active listings were up 119%, perhaps giving buyers some relief in segment that has grown increasingly competitive.

In Snohomish County, the median residential sold price rose 4% in March compared to last year, from $760,000 to $790,000. Active residential listings surged 79% year over year, offering buyers more selection in a market that is increasingly popular for its relative affordability. Closed and pending residential sales inched upwards, growing 4% and 1%, respectively. In the condo market, the median sold price rose 3%, from $515,000 to $529,994, while active listings more than doubled, jumping 104%. This influx of inventory provides welcome opportunities for first-time buyers and downsizers alike.

As the region moves deeper into spring, all eyes are on how rising inventory and renewed buyer interest will influence competition and pricing. While more listings bring opportunity, the pace of the market remains brisk — and navigating it with confidence takes up-to-the-minute insights. For expert guidance tailored to your goals, connect with your Windermere agent today.

Click here to read more.

Buyers • April 17, 2025

When is the Best Time to Buy a House?

by Don Koonce

There’s a factor of the home buying process that can often be the catalyst for everything that follows. That factor is timing. Much of the dialogue—rightfully so—around buying a home is focused on the “what.” However, it’s often the case that the “when” is just as important.

So, when is the best time to buy a house? The answer is simple: the best time to buy is the right time for you. Fortunately, knowing when the time is right isn’t some sixth sense; it’s much more concrete. It’s a matter of understanding local market conditions, your financial situation, the status of mortgage rates, and how those factors fit in with your lifestyle changes and your motive for moving.

When is the Best Time to Buy a House?

With so much subjectivity in the decision-making process, it can be helpful to look at cold, hard facts to determine whether it’s the right time to buy. Although every real estate transaction is different, your local market conditions will give you a good sense of how to approach the housing market. There are two basic categories: a buyer’s market and a seller’s market. In short, the characteristics of a buyer’s market—high inventory, fewer buyers, lower competition—favors buyers, and the characteristics of a seller’s market—low inventory, many buyers, high competition—favors sellers. You may be in a position where you’re able to wait for favorable buying conditions, or you may be thrust into a highly competitive market due to external factors pushing the agenda of your move, such as a career change or starting a family. Regardless of the market conditions you face as a buyer, work with a buyer’s agent is critical to efficiently navigate your local housing market and prepare a winning offer when the time comes.

Which homes can you afford?

Your financial situation also looms large when deciding whether it’s the right time to buy a house. Before you start looking for homes, assess your buying power. Having greater buying power will show the seller that you’re fully capable of purchasing the home and may vault your offer over others.

To get an idea of what you can afford, use our free Home Monthly Payment Calculator by clicking the button below. With current rates based on national averages and customizable mortgage terms, you can experiment with different values to get an estimate of your monthly payment for any listing price. Using the Home Monthly Payment Calculator, you can make a well-informed estimation of whether it’s the right time to buy.

The Home Buying Process

Moving often goes hand in hand with lifestyle changes. As you’re preparing to buy a house, you may be juggling an employment change, the birth of a child, or any combination of other life-altering events. Buying a home takes time, and although an agent will streamline the buying process, it will inevitably impact your day-to-day schedule. Here’s a quick glance at the steps in the home-buying process.

Find the right agent
Get pre-approved for a mortgage
Search for homes
Attend open houses and showings
Make an offer and negotiate
Put down earnest money
Appraisal/Inspection
Closing process
Move into your new home

For helpful resources on the home buying process from start to finish, visit our website:

Buyer Basics – Your Guide to Buying a Home

Seasonality

You’ve undoubtedly heard the age-old real estate maxims about buying in different seasons and how to use the calendar to your advantage to score a good deal on your next home. There’s an element of truth to these sayings, but the best way to grasp the effects of seasonality in your area is to work with an experienced local real estate agent. Their expertise and access to data and tools will be your ultimate resource in tailoring your buying strategy to your local housing market. Connect with an experienced Windermere agent to begin your home-buying journey:

Architecture • Design • April 15, 2025

The Art of Pacific Lodge Architecture

by Don Koonce

The Pacific Northwest is known for its lush forests, rugged coastline, and stunning mountain ranges. Naturally, architects and designers in the region draw from this unique environment, combining indigenous design principles with earlier frontier styles to create what we now know as Pacific Lodge architecture.

From its defining features to its deep regional roots, here’s everything you need to know about the Pacific Lodge home style and how it embodies the spirit of the PNW.

What is Pacific Lodge Architecture?

Drawing inspiration from mountain lodges, traditional log cabins, and the naturally sourced materials abundant in the region, Pacific Lodge architecture reflects a sense of warmth and connection to the land. Reclaimed wood, exposed beams, and stone are often emphasized to create spaces that feel both grounded and inviting, while expansive windows that frame the surrounding landscape allow natural light to pour in, blurring the boundary between indoors and out. The combination of rugged materials and thoughtful design results in homes that are both cozy and grand, seamlessly blending comfort, craftsmanship, natural beauty, and enduring charm.

Key Features of Pacific Lodge Homes

Exposed Wood Construction

Exposed wood construction is one of the defining elements of the Pacific Lodge home style. Signature woods found in the area, like Cedar, Douglas fir, and Western Larch, are commonly used to generate openness and enhance the home’s natural aesthetic. Vaulted ceilings, soaring trusses, and large-scale exposed beams showcase these wooden elements, giving the home an inviting yet dramatic feel. These features celebrate the region’s timber-rich heritage and foster harmony between the home and its surrounding environment.

Expansive Living Spaces

Complementing the warmth and openness created by exposed wood, expansive living spaces are another essential feature of Pacific Lodge architecture. Open floor plans, high ceilings, and grand rooms characterize the Pacific Lodge home, along with common areas that are thoughtfully designed to flow seamlessly into each other, creating inviting spaces ideal for gathering. The broad nature of these rooms highlights natural light, further enhancing the warm and welcoming atmosphere.

Large Windows

Pacific Lodge architecture prominently features large windows, such as picture windows and floor-to-ceiling glass, making the living spaces feel even more expansive and connected to the outdoors. Given the region’s frequent rain and cloudy skies, maximizing light is especially valuable, and oversized windows help to enhance brightness throughout the home. These large windows not only frame beautiful exterior views but also blend indoor and outdoor spaces.

Warm & Inviting Interiors

The warm and inviting interiors complement Pacific Lodge homes’ distinctive charm by bringing all these elements together. Inside, you’ll find a thoughtful blend of cozy furnishings, earthy tones, and richly textured materials. Sizeable stone fireplaces, leather seating, and more wood finishes provide a comfortable backdrop, while natural textiles like wool throws, woven rugs, and iron accents reinforce the home’s rustic yet elegant appeal. Deep forest greens, rich burgundies, and warm amber hues are often incorporated to add depth and complement the home’s natural feel.

Sellers • April 10, 2025

Landscaping Tips That Can Increase Your Home’s Value

by Don Koonce

When you own a home, there’s a natural desire to invest in landscaping projects that help beautify your yard. But for those who are preparing to sell, the emphasis should be on specific projects that boost your home’s curb appeal and add to its value. The following landscaping tips can help you position your home to sell at the best price. We also recommend talking with your agent about the best landscaping ideas for your home that buyers in your area are looking for.

Landscaping Tips That Can Increase Your Home’s Value

Flower Beds

Beautifying your flower beds is a matter of making improvements in two areas: the flower beds themselves and the border surrounding them. Flower-lined pathways leading toward your home’s front door help guide buyers’ eyes and create a natural aesthetic order to your front yard. Plant colorfully to inspire a vibrant look or choose fewer flowers for a more uniform consistency. Add fresh mulch or beauty bark to your flower beds to make them pop. Creating a border with stone, brick, clay, or another similar material will help delineate flower beds from grass while delivering a clean, refined aesthetic to your property.

If you’re designing new borders to your flower beds, think about the traffic patterns, the orientation of the house in relation to the rest of your neighborhood, and your front yard’s location to ultimately settle on the best sight lines. Spend time weeding the area where your border will go. To dissuade future weed growth, consider adding a thin layer of sand or gravel between the dirt and your border pavers. Finally, clean your hardscaping with an outdoor cleaner or pressure washer to get rid of built-up dirt and moss.

Lawn Care

A fresh lawn will make a solid first impression on prospective buyers. Here are a few basic lawn care tips:

Fertilize at the appropriate time of year for your local climate
Set your lawn mower blades at the proper height to ensure you’re not cutting your grass too short
Water regularly to keep your lawn healthy

If you live in an arid climate, grass alternatives may be a more popular local choice. No matter where you live, once you’ve decided to sell, you can rest assured that spending time and energy on caring for your lawn will pay dividends once you’ve staked your “for sale” sign.

Landscaping Lighting

Once you’ve fixed up your garden beds and tended to your lawn, you’ve done well to ensure that your home’s landscaping will look its best—during the daylight, that is. To ensure that buyers feel the work you’ve put into your home around the clock, consider installing landscape lighting. This will help to put your home’s qualities on full display during the nighttime, while also adding a welcoming touch for potential buyers and passersby.

Front Porch

Add planters to your front porch to create flow from your front yard to your entrance. For the ultimate front porch aesthetic, think of ways that you can create symmetry with your planter boxes. Nest them along the borders of windows, select planter boxes with dimensions that compliment a seated bench, or place identical boxes on either side of your front door. This will direct attention to your home’s front entry and helps to instill that all-important first impression in buyers’ minds.

To learn more about quality landscaping projects, read our blog post on 5 Design Projects to Improve Your Backyard.

Buyers • April 8, 2025

Renting vs Buying: Which is better for you?

by Don Koonce

Deciding whether to rent or buy can be a difficult decision, but with the right analysis, you can determine which is best for you. Knowing whether it’s the right time to rent or buy depends on your buying power, what you’re looking for in a home, your local market conditions, your plans for you and your household, and the responsibilities you’re prepared to take on at your residence.

Renting vs. Buying: Which is Better for You?

Renting gives you greater flexibility to relocate, fewer home maintenance responsibilities, and can often be more the more affordable option, depending on where you live. The extra costs associated with owning a home—interest payments, taxes, repairs—may be too much for some renters to handle. Becoming a homeowner has its respective advantages. You’ll have stable monthly payments and greater freedom to customize your living space. Advocates of buying will contend that purchasing a home is an investment in equity, which can increase in value every year you live in the home, whereas if you rent a property, you’re essentially paying for someone else’s mortgage.

Ultimately, the right decision depends on your situation. If you don’t plan to be living in the same place for at least five years, renting might be more logical, as it allows you more flexibility when it comes time to move again. If you’re looking to settle down for the better part of a decade or longer and can afford to buy a home, becoming a homeowner may be the better option. Here are a few additional considerations to guide your renting-versus-buying decision making process.

What are the local real estate market conditions?

Investigate the local sales and rental markets. Industry groups put out reports every quarter stating the average national sales price for a home and the average monthly payment for a rental. These reports are typically based on an average of all the cities in the U.S. But what really matters is what the numbers show when you dig into them on a local level. When looking at these reports, you’ll see there are some cities that fall below that average, while others rise above it. When comparing housing costs, be sure to base your evaluation on what’s happening in your city and neighborhood, not the nationwide averages.

For a quarterly breakdown of local market conditions, explore our Market Updates page. With data analyzed by our Chief Economist Matthew Gardner, each report breaks down the latest figures in home sales, home prices, and days on market for regions throughout Windermere’s footprint. Gardner also provides his estimation of where each market sits on the buyer’s-market-to-seller’s-market spectrum.

What can you afford?

Making the jump from renter to homeowner is often a question of affordability. Your mortgage rate will depend on your financial strength, your credit score, and other factors, so make sure to talk to a loan officer before you start looking for a home. Getting pre-approved for a mortgage will identify what you’re able to afford and helps strengthen your offer when the time comes.

To get an idea of what you can afford, use our free Home Monthly Payment Calculator by clicking the button below. With current rates based on national averages and customizable mortgage terms, you can experiment with different values to get an estimate of your monthly payment for any listing price. By using the Home Monthly Payment Calculator, you can make a well-informed estimation of whether it’s the right time to buy.

Will you need to make repairs to your new home?

Buying a fixer-upper may seem like a great way to get a deal on a house, but if the money you spend on the repairs is too great, your profit could be diminished when it comes time to sell. The same is true for remodeling and improvement projects. There are various renovation financing loans available to you that can help with the costs of home repairs, though extra consultations, inspections, and appraisals are often required in the process of securing these loans. Ultimately, if you can only afford a home that demands major improvements, and you don’t have the skills to do much of the work yourself, you may be better off renting.

Can you rent part of the house you’re buying?

If you buy a house with rental-capable space (extra bedroom, mother-in-law unit, etc.), you could use the rental income to pay off your mortgage faster and contribute more to your savings. But, of course, you need to be willing to share your home with a tenant and take on the responsibilities of being a landlord or working with a professional property manager to help you with those duties. Renting out a space in your home will also require you to purchase landlord insurance on top of your existing homeowners insurance policy.

Making Your Decision to Rent or Buy

At the end of the day, the decision is up to you. Based on the conditions laid out above, it simply may not be the right time for you to buy. Fortunately, when it comes to being a homeowner, it’s not now or never. A real estate agent will be your ultimate resource in gauging whether it’s the right time to buy and guiding you through the process toward homeownership.

Sellers • April 3, 2025

Selling Your Home: Capital Gains Tax

by Don Koonce

When you sell your home, you stand to receive an influx of cash. Though there are several costs associated with a home sale, you can likely still bank on the fact that you’ll be depositing a lump sum in the near future. But before you start planning how you’ll use the money or start looking for a new home, you’ll want to understand whether you fall under the criteria of the capital gains tax. If so, the profit from your home sale could end up being smaller than you expected.

What is a capital gains tax?

A capital gains tax is a fee on the profits gained from the sale of an asset. This tax appears in transactions involving various assets—bonds, stocks, boats, cars, and real estate. In real estate, it’s common for homes to appreciate, often leading to a situation where the seller sells the property for more than they originally purchased it. The capital gains tax on the sale of a home is assessed on the difference between those two prices.

Avoiding Capital Gains Tax on a Home Sale

The 2-in-5 rule: If you have owned the home and it has been your primary residence for two of the five years leading up to the sale, you can exclude up to $250,000 of gains if you’re single, or $500,000 if you’re married and file a joint return. If the profit exceeds these amounts, then the excess is reported as a capital gain. The two years of living in the home don’t have to be consecutive, nor do they need to be the final two years leading up to the sale.
Two-year window: You can claim the $250k or $500k exclusion as long as you haven’t already claimed it on the sale of another home in the past two years.
Cost of repairs/improvements: In the context of the capital gains tax, the “cost basis” of your home includes the purchase price, certain legal fees, improvement costs, and more. Including the expenses incurred making repairs and improvements to the home will increase the home’s cost basis, thereby reducing the capital gains.

Paying Capital Gains Tax on a Home Sale

Sometimes, avoiding the capital gains tax may not be possible. If these criteria fit your situation, the gains from the sale of your home may be fully taxable:

The home you sold is not your primary residence
You owned the home or lived in it for less than two years in the five years leading up to the sale
You purchased the property through an investment exchange (known as a 1031 exchange)
You are subject to expatriate taxes
You sold another home within the previous two years and used the capital gains exclusion on that sale

Capital Gains Tax Rates

Capital gains tax rates break down into two basic categories: short- and long-term. Short-term capital gains tax rates apply if you owned the home for less than a year. The rate is usually the same as your ordinary income. For example; if you purchase a home, home values in your area go through the roof within the first few months, and you decide to sell right away to take advantage of the competitive market, you’ll be required to pay capital gains tax on the sale. Long-term capital gains tax rates apply if you own the home for longer than a year, and are taxed at 0%, 15%, and 20% thresholds.

For more information on the financial characteristics of a home sale, read A Guide to Understanding Escrow.

Buyers • Sellers • April 1, 2025

The Biggest Home Buying and Selling Mistakes (and How to Avoid Them)

by Don Koonce

There’s nothing more exciting, rewarding, and fulfilling than buying or selling a home. However, it’s a complex transaction, and there are several steps along the path that can confuse even the most seasoned buyers and sellers. How can you avoid potential selling pitfalls and common buying mistakes? Look to your real estate agent for advice and keep the following guidelines in mind.

Common Buying Mistakes

#1 Review Your Credit Reports Ahead of Time

Review your credit report a few months before you begin searching for homes. You’ll have time to ensure the facts are correct and be able to dispute mistakes before your mortgage lender checks your credit. Get a copy of your credit report from Experian, Equifax, and TransUnion. Why all three? Because, if the scores differ, the bank will typically use the lowest one. Alert the credit bureaus if you see any mistakes, fix any problems you discover, and don’t apply for any new credit until after your home loan closes.

10 Important People in the Home Buying Process

#2 Get Pre-Approved for a Mortgage

Before getting serious about your hunt for a new house, you’ll want to choose a lender and get pre-approved for a mortgage (not just pre-qualified—which is a cursory review of your finances—but pre-approved for a loan of a specific amount). Pre-approval lets sellers know you’re serious. Most importantly, pre-approval will help you determine exactly how much you can comfortably afford to spend.

#3 Know What You Want

You and your real estate agent should both be clear about the house you want to buy. Put it in writing. First, make a list of all the features and amenities you really want. Then, number each item and prioritize them. Now, divide the list into must-haves and nice-to-haves.

#4 Account for Hidden Costs

In addition to the purchase price of the home, there are additional costs you need to take into consideration, such as closing costs, appraisal fees, and escrow fees. Once you find a prospective home, you’ll want to:

Get estimates for any repairs or remodeling it may need
Estimate how much it will cost to maintain (gas, electricity, utilities, etc.)
Determine how much you’ll pay in taxes monthly and/or annually.
Learn whether there are any Homeowners Association (HOA) fees associated with the property.

#5 Get a Home Inspection

Buying a home is emotionally charged—which can make it difficult for buyers to see the house for what it truly is. That’s why you need impartial third parties who can help you logically analyze the condition of the property. Your agent is there to advise you, but you also need a home inspector to assess any hidden flaws, structural damage, or faulty systems.

Making the Most of a Home Inspection

#6 Research the Neighborhood and Location

When house hunting, it’s easy to get caught up in the details of the home itself—bedrooms, bathrooms, and amenities—while overlooking the subtleties of the surrounding neighborhood. Take time to explore the area at different times of the day, research school options, check crime reports, and visit nearby parks, shops, and restaurants. A great home in the wrong location can quickly become the wrong home.

Common Selling Mistakes

#1 Avoid Getting Too Emotional About the Sale

Once you decide to sell your house, it’s time to strip out the emotion and look at it as a commodity in a business transaction. If you start reminiscing about all the good times you had and the hard work you invested, it will only make it that much harder to price, prepare, and market the home successfully.

Preparing to Sell Your Home: A Complete Checklist

#2 Make Repairs or Price Accordingly

Homes with deferred maintenance and repair issues can take far longer to sell and can be subject to last-minute sale cancellations. These homes also often sell for less than their legitimate market value. If you simply can’t afford to address critical issues, be prepared to work with your agent to price and market your home accordingly.

#3 Don’t Overprice Your Home

Getting top dollar is the dream of every seller. But it’s essential that you let the market dictate that price, not your emotions or financial situation. Allow your agent to research and prepare a market analysis that factors in the value of similar homes in the area and trust those results. Overpricing your home often spells trouble and can leave significant money on the table.

#4 Use High Quality Photos

Most prospective buyers today search for homes online first. To make a good first impression, you need a wealth of high-quality photos showcasing your home and surrounding grounds. In today’s market, buyers also expect virtual home tours, drone photography, and 3d walkthroughs to get a more immersive look at the home before scheduling an in-person visit. Investing in these visual tools can help your home stand out in a competitive market and attract buyers faster. It’s also critical that you stage your home to generate maximum buyer interest.

The process of buying or selling a home can have plenty of twists and turns, but with some wise decision-making, you can avoid the most common mistakes and pitfalls. Lean on your agent for guidance throughout the process. Connect with a local Windermere agent to begin your buying or selling journey:

Events • March 27, 2025

FREE E-Waste Recycling & Paper Shredding Event

by Don Koonce

Go here for more details.

Real Estate News & Information • March 25, 2025

Local Market Update – March 2025

by Don Koonce

February typically brings a quiet real estate market, though this year, the balance between affordability and inventory shaped activity across the Puget Sound. While 30-year mortgage rates dipped slightly from January, rising home prices remained a challenge for buyers, potentially tempering demand. Despite a significant increase in active listings compared to last year, closed sales have not kept pace – and in some areas, they’ve declined year over year. As spring approaches, the interaction between inventory and pricing will be crucial in determining market momentum.

In February, King County’s median residential sold price remained relatively flat year over year, inching up from $914,500 to $915,000. However, prices rose 7% from January, indicating sustained short-term growth. Sellers seem to be preparing for the busier spring season, with active residential listings up 37% compared to last year and 9% from last month. Despite the increase in inventory, closed sales remained flat year over year – suggesting that affordability challenges may still be limiting buyer activity. In King County’s condo market, the median price rose 11% year over year to $612,500 from $550,000. Active condo listings surged 81% compared to the same time last year, following a similar trend as the residential market.

Seattle’s market showed solid price growth in February, with the median residential sold price reaching $965,000 – a 4% increase from last year and a 13% jump from January’s $927,450. Inventory grew as well, with active residential listings climbing 28% year over year and nearly 9% month over month, further boosting buyer choice. However, closed sales declined 7% from last year, hinting that rising prices may be impacting demand despite more inventory. Seattle’s condo market reflected the same trends, with the median sold price rising 12% year over year to $625,000, while active condo listings increased 55% from a year ago.

Across the Eastside, home prices continued their upward trajectory, with February’s median residential sold price hitting $1,685,000 – a 15% increase from $1,470,000 last year. Inventory levels expanded as active residential listings rose 62% year over year and 23% from January, likely due to sellers returning after the winter market slowdown. While closed sales remained essentially flat compared to last year, pending sales dropped 15%, suggesting that affordability may be hindering buyer activity. Eastside condos also saw notable growth, with the median sold price rising 18% from a year prior to $787,475, and active condo listings skyrocketing by 142%, dramatically increasing available options for buyers.

Snohomish County’s median residential sold price rose 5% year over year in February, reaching $785,000, up from $750,990 a year ago. Inventory growth was strong, with active residential listings climbing 66% compared to last year and growing nearly 7% from January, adding more options to the market. However, both pending and closed residential sales declined from 2024, down 10% and 3%, respectively. This suggests that rising prices and persistently high interest rates may be softening demand. Snohomish County’s condo market showed similar patterns, with median sold price increasing 5% from last year to $525,000, while active condo listings grew 64% during the same period.

With inventory continuing to build, competition among sellers is increasing, which could lead to price adjustments that stimulate buyer activity in the months ahead. However, inventory remains below balanced-market levels. Across our four Puget Sound regions, the average months of inventory sits at just 1.3 – still well below the 2 months considered balanced, suggesting that additional opportunities may emerge for buyers facing affordability concerns. Whether that inventory will materialize remains to be seen. In a fast-moving market, having an experienced real estate professional by your side is essential. Connect with a Windermere agent for personalized guidance and real-time market insights.