In the waning days of summer, the local real estate market reflected a mix of shifting prices, easing mortgage rates, and continued annual growth in inventory. Some areas still favored sellers benefiting from demand, while others gave buyers increasing leverage. Together, declining interest rates and higher supply could motivate cautious buyers to re-enter the market this fall.
As of the second week of September, mortgage rates reached their lowest point in 10 months, sitting at 6.35% for a 30-year-fixed-rate loan. Whether this is enough to draw more buyers into action remains to be seen, but it is welcome news for sellers contending with significantly higher inventory and tempered demand amid broader economic uncertainty. How this dynamic plays out in the coming months — particularly as the market enters a seasonal slowdown — will be important to watch.
KING COUNTY Last month, the median residential sold price in King County rose 4% year over year to $990,000, up from $955,000 in August 2024. The monthly trend was a bit more encouraging for buyers, however, as August’s median sold price dipped 1% from July’s $1,000,000. Active listings were 32% higher than a year ago, expanding options for buyers across the county. In the condo market, prices increased 4% year over year to $549,000, even as supply climbed 29%.
SEATTLE
Seattle’s median single-family home price climbed 8% year over year to $1,000,000, though this marked a 1% dip from July’s $1,010,000. At the same time, inventory rose 17% compared to last August. Condo prices advanced 7% year over year from $555,000 to $595,000, with active listings up 24%. Throughout the summer, Seattle remained one of the more competitive markets in the region, with buyers and sellers adapting to higher prices and rising supply.
EASTSIDE On the Eastside, the median sold price for a single-family home was $1,537,500 in August, down 1% year over year and 3% from July. Closed sales fell 16% annually, while inventory surged 69%. Motivated sellers had to be flexible to beat out competition last month as nearly 70% of homes sold under list or after a price reduction — a sharp contrast from 2024 when fewer than half did. Meanwhile, the Eastside condo market showed notable strength: median prices jumped 17% year over year to $717,500, with active listings up 48%.
SNOHOMISH COUNTY Snohomish County saw softer activity in August. Pending sales of single-family homes declined 12% and closed sales dropped 11% compared to last year, while active listings increased 47%. Median sold prices inched up 1% year over year to $790,000 but slipped 2% from July’s $805,000. This month-over-month price dip aligns with the county’s shift toward a balanced market. The median sold price for a Snohomish County condo fell to $500,000, a 15% annual drop and a typical market response to rising inventory — which was 64% higher than a year ago.
As fall begins, our local real estate market is showing signs of equilibrium, with opportunities for both buyers and sellers. Inventory growth and easing rates suggest buyers may gain ground, but how supply responds this season remains an open question. In such a rapidly evolving landscape, expert guidance is essential. Partnering with an experienced Windermere agent can help you build a strategy tailored to today’s conditions and tomorrow’s opportunities.
Technology is transforming nearly every industry, and real estate is no exception. New tools and innovations are reshaping the way we search for, buy, and sell homes. Among these advances, artificial intelligence (AI) has quickly become one of the most talked-about technologies, being used for everything from writing and research to customer service. Naturally, this raises the question of whether it could ever replace jobs that rely on human connection and expertise, like real estate.
In the sections ahead, we’ll break down what AI can and can’t do in real estate, and how agents can use it to their advantage rather than view it as competition.
What is AI?
Artificial intelligence (AI) is technology that allows machines to simulate human intelligence. In recent years, AI has grown at lightning speed and has become part of daily life, often in ways people don’t even notice. Generative AI tools like ChatGPT, Copilot, Gemini, etc., are the ones most people hear about because they can answer questions, draft text, or create images. At the same time, other forms of AI are working quietly behind the scenes on websites, apps, and services we use daily, from recommendation engines to fraud detection.
Together, these tools are changing how we interact with technology, making it faster and more efficient. But when it comes to buying or selling a home, no algorithm can replace the insight, guidance, and personal care of a trusted real estate agent.
How AI is Shaping Real Estate
AI is already influencing how buyers and sellers approach the market. From predictive pricing tools and market analysis platforms to more intelligent home search engines, AI can process large amounts of data and provide insights more quickly than any individual could manage on their own. For agents, it can automate repetitive tasks like drafting emails or creating basic listing descriptions, while chatbots help answer simple client questions around the clock. Some platforms even use AI to match buyers with properties based on preferences or past behaviors. These tools save time and make processes more productive, but they’re only part of the real estate experience.
Why Real Estate Needs a Human Touch
Buying or selling a home is never just about the transaction—it’s often one of the biggest financial and emotional decisions of a person’s life. And while AI may provide quick data or market insights, it can’t sit down with an individual and understand their specific needs, calm their nerves during a stressful moment, or celebrate when the keys are finally handed over.
A real estate agent listens, adapts, and advocates for their clients in ways that no algorithm can replicate, bringing empathy, intuition, and lived experience into the equation rather than just facts and figures. They know the neighborhoods, the schools, and the subtle details that make a house a home. They can recognize when a client needs reassurance, when to negotiate a little harder, and when to suggest a creative solution to keep a deal moving forward. These instincts and skill sets are built on years of human connection, which is what makes the difference between simply completing a deal and guiding someone through a life-changing experience or helping them reach their real estate goals.
The Future: Agents + AI, Not Agents vs. AI
Rather than replacing real estate agents, AI has the potential to make their work even more impactful. Tools like virtual tours, AI-powered staging, and digital imaging can help buyers visualize a property in new ways, while automation can create marketing materials, streamline scheduling, and analyze market trends at an increased speed. These efficiencies free up time and energy for agents to focus on what matters most: listening to clients, building trust, and guiding them through one of life’s most significant decisions.
When used thoughtfully, AI shouldn’t be viewed as a competition, but as a business companion. By blending cutting-edge technology with the irreplaceable human touch, real estate agents can continue to grow their business, deliver better service, and strengthen the personal relationships that remain at the heart of every successful transaction.
At Windermere, our agents use every tool available, but it’s their expertise and personal care that truly set them apart. Connect with an experienced Windermere agent today:
There is perhaps no other home décor style as comforting as traditional interior design. Rooted in the masterfully crafted Chippendale and Thomas Sheraton furniture designs and classic Queen Anne colors, traditional décor is one vintage style that stood the test of time. Here are five distinct features of traditional interior design.
5 Features of Traditional Interior Design
1. Dark Wood Finishes
Part of the reason for traditional design’s timeless appeal is its use of woodworking. With woodwork as a foundation, this design style feels classic but not dated. The dark, bold colors resemble the Victorian style, but traditional interiors are simpler and less ornate. The dark tones of the wood create a foundation for a more colorful decorative palette.
Traditional interior design living room with dark wood finishes | Image Source: Getty Images – Image Credit: IPGGutenbergUKLtd
2. Traditional Design Color Palette
Traditional design can handle a heavier color palette while still providing comfort. The darker wood tones allow for darker color to be used elsewhere throughout a space, such as dark window coverings. Floral, plain colors, and muted plaids are all common color schemes. Walls are often covered with patterned wallpaper, floral designs, or damask. In terms of designs, traditional interiors pair well with geometrics and small, striking yet understated patterns.
3. Hardwood Flooring
This design style is classic from the floor to the ceiling. You won’t find laminate or tile flooring in the common areas of a home that adheres to the principles of traditional interior design. Complimenting the surrounding woodwork, homes designed in this style have solid hardwood flooring. How to Choose the Best Flooring
Traditional interior design living room with hardwood flooring | Image Source: Getty Images – Image Credit: mikolajn
4. Traditional Decorations
The decorations used in traditional design help to reinforce its unique, classic-yet-comfortable ambiance. Table lamps and vases are typical of a traditional interior, often displayed in pairs to create symmetry. Though these accessories are bold, they are never too ornate or over-the-top enough to dominate the room.
5. Design Philosophy
Traditional design is calm and orderly. Whereas a more eclectic interior design style may offer more surprises throughout its spaces, a traditional interior is more predictable. Even the textiles used are subtle, with typical materials ranging from cotton and fur to velvet and silk.
For more inspiration and interior design tips, visit the Design category of our blog:
Coastal interior design captures the calm elegance of life by the water. It’s bright, breezy, and effortlessly connected to nature, drawing inspiration from the textures and warmth of the shore, the shifting blues of the sea, and the weathered charm of driftwood and dune grass. This style invites the outdoors in, creating spaces that feel open, welcoming, and dreamy, no matter how far you are from the coastline.
Defining Features of Coastal Interior Design
Natural Materials
Coastal design embraces organic textures that feel relaxed and lasting, mirroring the landscape along the shoreline. Wicker and rattan furniture bring a light, casual elegance, while woven jute or sisal rugs add earthy texture underfoot. Weathered or reclaimed wood, whether used in furniture, ceiling beams, or accent walls, offers a sun-worn character that feels authentic to seaside living. Glass elements, including vases, oversized mirrors, and light fixtures, reflect light and mimic the clarity of water, while stone or pebble accents can subtly reference the beach and coastline. Even fabrics play a role, typically with cotton, linen, and other breathable, natural fibers, keeping the look feeling fluid and inviting.
A Coastal Color Palette
The colors of the coast bring this style to life. Crisp whites and soft creams create a fresh, open backdrop, while sandy beiges and sun-bleached wood tones add warmth and a lived-in ease. Layered into this foundation are sea-inspired blues in every shade, from the pale, airy blue of a summer sky to the rich, grounding depth of navy. Small pops of teal, aqua, seafoam green, and even coral can bring a burst of energy, infusing the space with the vibrant, refreshing spirit of life by the water.
Light, Airy Spaces
Abundant natural light is central to coastal interiors. Large windows, double-glass French doors, and open layouts blur the lines between inside and out. Sheer linen drapes catch the breeze, while white or pale walls reflect light to make rooms feel even more expansive. One of the advantages of using natural materials in coastal design is that they age gracefully, gaining character over time while preserving the fresh, airy feel that helps define this style.
Subtle Nautical Touches
Coastal design often incorporates gentle, well-chosen nods to the sea. Rope accents woven into mirrors or light fixtures, bowls of collected shells, or artwork featuring surfboards, sailboats, and marine life can all bring a hint of nautical charm. Avoid an overly beachy look by balancing nautical accents with clean lines and neutral tones. These elements should evoke the feeling of the coast rather than recreate it literally, keeping the space elegant, storied, and timeless.
Built-In Charm
Architectural details like white-washed built-in shelving, wood-clad ceilings, or wall paneling give coastal homes a sense of craftsmanship and permanence. These features provide the perfect stage for displaying curated coastal finds like sea glass, ceramics, or woven baskets.
Bringing the Look into Your Home
You don’t need an ocean view to enjoy the beauty of coastal design. Start with a light, neutral foundation and layer in soft blues, sandy tones, and natural textures. Choose furniture that feels comfortable and unfussy, and incorporate elements that remind you of the shore, whether that’s a woven jute rug in the bedroom, a driftwood coffee table, or a few well-placed nautical pieces.
Candles or diffusers with fresh, sea-inspired scents can enhance the atmosphere, creating the sensory experience of a salty ocean breeze. And if you’re looking for real-life inspiration, a visit to Seabrook, WA, can spark ideas with its homes and community spaces being a masterclass in blending classic coastal styles with modern living.
For more design inspiration, tips, and trends, visit the design section of our blog.
These Seabrook listings showcase how coastal style blends comfort, light, and seaside charm.
For Americans already struggling with the highest mortgage rates in a generation, new legislation out of Washington promises little relief. The “One Big Beautiful Bill Act” (OBBBA) will add trillions to the national debt over the next decades, further cementing an era of expensive borrowing.
The basic laws of supply and demand suggest this surge in government debt issuance will push interest rates even higher for everyone, straining the already-frozen housing market and increasing costs for all types of credit.
The one silver lining, though, is that the sooner lenders accept our “higher for longer” new world of interest rates, the sooner they can stop worrying so much about prepayment risk, which may shrink the spread they charge above 10-year Treasury yields. Below, we’ll explore how national debt impacts real estate.
As Uncle Sam borrows ever more, everyone’s interest rates will rise
The One Big Beautiful Bill Act, enacted this summer, puts the pedal to the metal for debt accumulation over the next decade in the U.S. The Committee for a Responsible Federal Budget estimates that it will add a cumulative $5.5 trillion to the debt by 2034, under the realistic assumption that its provisions written to expire will instead be extended, as has become normal in federal budgeting.
Even taking the expirations at face value, though, the bill raises deficits by a cumulative $4.1 trillion, an extraordinary choice in the midst of an economic expansion and coming on the heels of the worst bout of inflation in decades.
The issuance of trillions of dollars of additional debt in the next several years is expected to drive up interest rates. The Budget Lab at Yale has estimated that the bill will raise 10-year Treasury yields by about half a point in the next several years and by more than 1.4 points in the very long run.
This is driven in part by their modeling assumption that the Federal Reserve will succeed at keeping inflation close to 2 percent, which will require higher interest rates in the long run. They also expect a higher term premium on long-term debt, like 10-year Treasuries.
Altogether, this paints a picture of government borrowing crowding out private borrowing — as the Treasury issues more debt to finance its deficits, yields must rise to compensate investors. Other debt in the economy, such as mortgages, must yield more as well, in order to compete with Treasury bonds for lenders.
High interest rates have already frozen the housing market
While the U.S. economy continues to grow, the U.S. housing market has been stuck in neutral for over three years. Ever since mortgage interest rates rebounded from all-time lows below 3 percent for 30-year loans in 2020 and 2021, to generational highs above 7 percent in 2023, existing-home sales have been stuck in the neighborhood of 4 million annual sales.
It’s no surprise that fewer homes are changing hands than during the 2021 low-interest-rate boom, but 4 million is much fewer than even prevailed during the 2010s. In fact, 2024’s total of 4.06 million existing-home sales was the lowest total since the 1990s. The housing market is caught in a perfect storm, keeping homeowners frozen in place, thanks to the one-two punch of high price-to-income ratios and high mortgage rates.
While the OBBBA includes some sweeteners for certain homeowners, like the expansion of the state and local tax deduction cap to $40,000, the main long-term effect it promises for housing is just higher interest rates.
One near-term trend likely to help mortgage borrowers: a thinner spread
Bigger deficits, bigger debt, higher interest rates — the long-term fiscal outlook is getting darker. But there’s one silver lining that has begun to shine around the edge of these gathering clouds. The mortgage-Treasuries spread has begun to narrow again, resuming its progress back down toward pre-pandemic levels. The spread, here, refers to how much higher 30-year mortgage rates are averaging than 10-year Treasury yields.
In the 21st century, up to the pandemic, mortgage rates rarely exceeded 10-year Treasury yields by more than 2 percentage points, except during the global financial crisis. When mortgage rates soared back up in 2022, part of their climb was due to the widening spread. The two major reasons for widening spreads are a greater prepayment or refi risk on mortgages and interest rate volatility.
The latter has gradually faded this summer after spiking amidst tariff uncertainty in April. But the prepayment risk component is the bigger factor. For lenders and the investors who buy mortgage-backed securities, mortgages issued at high interest rates are uniquely risky because borrowers are expected to refinance them once mortgage rates fall back down.
The lack of a prepayment penalty for borrowers makes U.S. mortgages uniquely favorable to homebuyers here. If rates rise, they win by virtue of having locked in a lower rate; if rates fall, they can always refinance. Investors and lenders, by the same token, view refinancing as a unique downside to holding mortgages. They want a reliable coupon stream from mortgage holders’ monthly payments.
Seeing their loans wiped out by refinancing, replaced by cash in a new lower-interest-rate world, is a risk for which they must be compensated to make the loan in the first place.
That extra compensation for prepayment risk helped explain why mortgage rates soared even more than 10-year Treasury yields in 2022 and 2023. Now, though, as the reality sets in that we are living in a world where interest rates are “higher for longer,” lenders have gradually brought mortgage rates down relative to Treasuries, from about a 2.9-point spread in 2023 to 2.4 in recent months, or about one-third of the way back to normal.
The sooner investors conclude that refinancing prepayment risks aren’t so high, the sooner the spread can come down. The potential bankshot silver lining of the OBBBA? By putting a nail in the coffin of hopes for low interest rates, it may help further shrink the spread, so that higher 10-year Treasury yields don’t have to mean higher mortgage rates one-for-one.
Ultimately, the nation’s fiscal path points toward a new normal of higher borrowing costs for all. The “One Big Beautiful Bill Act” serves as an accelerant, solidifying a “higher for longer” interest rate environment that will impact everything from car loans to corporate debt. For the beleaguered housing market, this presents a bittersweet trade-off.
The bad news is that the foundational interest rate, the 10-year Treasury yield, is set to climb. The paradoxical good news is that by killing the hope of a return to ultra-low rates, the OBBBA may continue to shrink the risk premium lenders charge on mortgages. This narrowing spread won’t turn 7 percent mortgages back into 3 percent loans, but it might help us work our way back down closer to 6 percent.
Jeff Tucker is the Principal Economist at Windermere Real Estate in Seattle, WA. This blog was originally published on Inman News on 8/26/25.
With its grand stature and signature look, Colonial architecture hearkens back to the nascent days of British settlement on American soil. Since then, the classic home style has seen waves of renewed interest, giving rise to multiple variations on the colonial theme. Today, they remain a popular choice for homeowners throughout the Eastern and Southern United States.
History of Colonial Style Architecture
Like the Cape Cod home style, the roots of Colonial architecture took shape as European settlers made their way to American shores and began to develop their homesteads. A century later amid the country’s centennial celebrations, a new wave of interest in colonial homes took hold. This gave way to the Colonial Revival period, which saw architects and home builders molding the settlers’ early home designs into something more suited for the needs of modern life. Several variations were born during this time, including Georgian, Dutch, French, and others.
Colonial homes are easily identifiable, with symmetric and traditional exteriors that allow their signature characteristics to stand out. Their spacious interiors prioritize comfort, with common living areas and bedrooms typically located on different stories. Here are some common elements of colonial home design.
Symmetrical façades and windows with a central door
Shuttered windows for protection against the elements
Rectangular shape with either a central or double chimney
Built of brick, wood, or stone, depending on the region and era of construction
Pitched roofs with side gables
Front porch columns, typically framing the door
Grand entryways
Living spaces on ground floor, bedrooms located throughout second or third stories
Hardwood floors
Decorative moldings
To learn more about the various home styles from A-Frame to Victorian, head to our Architectural Styles page.
Extraordinary offering! Custom-built one-owner home on grand 12,000 sqft. lot with territorial views in Leschi. Unique multi-level design, tongue and groove ceilings, hardwood and parquet flooring, sunroom, skylights, huge Primary bedroom with private bath. Expansive yard and wrap around decks for entertaining, mini-splits for A/C. Secure parking in two-car garage + guest parking in driveway. All within short hop to nearby Leschi shops, eateries, Lk WA, parks & bike paths. Metro #27 just 2 blocks away goes downtown Seattle, Judkins Light Rail approx. 1 mile for UW, International District, SeaTac International and beyond. Golden opportunity to reinvent/renovate, live on a rare estate lot in dream location. Any development potential to be verified by Buyer.
UNDER CONTRACT FOR BUYERS
8810 47th Street W University Place, WA 98466
$624,950
Beds: 3
Baths: 3
Size: 1,788 sqft
Days on OneHome: 3
Beautiful 3BR, 2.5BA Fox Glen home nestled in a quiet cul-de-sac in a secluded “one way in, one way out” neighborhood. Enjoy an open-concept layout with oak hardwood floors, gas fireplace, and a spacious kitchen that flows to a large deck with hot tub. Tankless water heater, bonus room downstairs, and a full 2-car garage with workshop space. Set on a serene lot in desirable University Place, close to shopping, dining, Chambers Bay, and award-winning schools.
Selling a home begins with understanding how much it’s worth. After an initial assessment, you may want to make some updates to increase the value of your property. There are several ways to do that, including boosting your curb appeal or making renovations with significant ROI potential. As you research potential projects, keep in mind that making your home more sustainable can boost its value to potential buyers. In today’s market, many buyers are looking for eco-conscious features that offer long-term savings, lower utility bills, and improved health and comfort at home. Making the right green upgrades can help your home stand out. Talk with your agent to identify which of these five upgrades makes sense for your home before it hits the market.
Five Green Upgrades that Increase Your Home Value
1. Energy-Efficient Appliances
It’s no secret that appliances use a significant amount of energy, which means there is plenty of opportunity to cut back on their output. Installing energy-efficient appliances can do wonders for creating a more eco-friendly home, while appealing to buyers who value sustainability. And as many cities move toward energy codes that limit or eliminate the use of natural gas, energy-efficient electric appliances are becoming an important part of future-proofing your home. When shopping around, look for appliances with high-efficiency or Energy Star certifications. They may cost more to purchase, but their ability to generate long-term savings is a concrete selling point.
2. Tankless Water Heater
As the shift toward eco-friendly appliances has picked up steam, so too has the preference for tankless water heaters. Whereas standard storage tank water heaters keep a reservoir of hot water at the ready, tankless water heaters heat your home’s water supply on demand. It’s similar to a new car that shuts off its engine when sitting idle, as opposed to an older car whose engine is running all the time. Tankless water heaters don’t come without their share of costs. An upfront investment will be required for purchase and installation, but it will deliver immediate savings on energy bills.
3. Solar Panels
There are many benefits to going solar, but for sellers, the positive effect solar energy has on home values is chief among them. A solar-capable home is a surefire way to drum up buyer interest. By taking care of the upfront installation costs, you allow the buyer to focus on the benefits of solar energy, i.e., the long-term energy savings, the reduced utility bills, and the reduction in the property’s carbon footprint. Depending on your location, you may also be eligible for local or federal tax credits, utility rebates, or other incentives that can offset these installation costs. Work closely with your real estate agent to understand how solar energy has affected home prices in your area to get an idea of the project’s ROI potential.
4. Water Filtration
Installing a home water filtration system is one of the best ways to cut down on your home’s waste while increasing its value. These filtration systems appeal to buyers for a variety of reasons. Of course, there are an array of health benefits to having filtered water running through the entire house. Buyers can be assured that the water is safe to drink, they will be bathing and showering in clean water, and there is a reduced risk of plumbing issues due to contaminated water. Beyond the personal health benefits, it can also cut down on bottled water costs and the amount of landfill waste produced within the home. Some whole-home water filtration systems also come with smart sensors that track usage, detect leaks, and monitor filter lifespan, adding a layer of convenience and long-term savings for homeowners.
5. Energy-Efficient Windows
Alternatives to traditional windows have become more popular in recent years. Energy-efficient windows are better insulated, which helps to regulate temperatures inside the home and protects against harmful ultraviolet rays. Their ability to help regulate your home’s heating and cooling leads to energy savings and reduced carbon emissions. Energy-saving windows can be highly valuable to potential buyers, especially if you live in a climate with extreme temperatures.
In addition to temperature regulation, many buyers also appreciate how modern energy-efficient windows help with soundproofing—a big plus in urban or suburban neighborhoods.
Bonus Upgrades to Consider
If you’re looking to go a step further, here are a few more eco-friendly upgrades that may increase your home’s value and appeal:
Smart thermostats automatically adjust heating and cooling based on your schedule, saving energy and offering buyers convenience.
Upgrading to high-efficiency insulation in walls, attics, or crawl spaces can significantly reduce energy costs.
With electronic vehicles becoming more common, having a dedicated outlet or charging setup at home is a huge plus for future-minded buyers.
For more tips on the selling process, visit the selling section of my blog.
Price gaps between 2024 and 2025 began to narrow across all four markets in July. Even with softer prices, sales activity remained slow in most areas, doing little to offset the growing inventory. Today’s discerning buyers have more choices and are taking the time to wait, watch, and negotiate for the right home. And with the days of 3% interest rates likely behind us, affordability remains a hurdle for many across the Puget Sound. Getting buyers off the sidelines may depend on seller flexibility and broader economic forces.
In July, King County’s median sold price for a single-family home held steady at $1,000,000, nearly unchanged from last year. Active listings climbed 43% year over year, while pending sales rose just 2% and closed sales dipped 1%. Still, competition was brisk for the homes that did sell — 76% went under contract within 30 days. King County condos followed a similar pattern: the median price remained flat at $530,000 and active listings jumped 41% compared to last year.
On the Eastside, July’s median residential sold price dipped 2% year over year to $1,580,000, as buyers faced no shortage of options. Pending sales were down 6% and closed sales fell 8%, helping put active listings up 90% from last year to their highest level since 2011. And buyers took advantage — more than 60% of homes sold below asking or after a price change. Meanwhile, Eastside condos held steady at a median sold price of $629,000 and active listings surged 84% from a year prior.
Seattle’s active listings rose a modest 19% compared to July 2024, hinting at inventory leveling off. Pending sales were up 18% year over year — the strongest gain among our four markets — which likely helped lift the median residential sold price to $1,010,000, a 4% increase. Competition remained strong, with 81% of homes selling in 30 days or less. In Seattle’s condo market, active listings climbed 29% while the median price edged down 2% to $550,000.
Snohomish County’s inventory levels grew 48% from last July, pushing the area into a balanced market. Closed sales rose just 1% year over year, while pending sales remained flat. The median sold price for a single-family home slipped 2% to $805,000. The county’s condo market saw more dramatic shifts: active listings soared 83% and the median sold price dropped 5% to $529,975.
Across the Puget Sound, July’s trends point to a market in transition — one where pricing is starting to stabilize but sales momentum hasn’t yet caught up. Elevated inventory is creating opportunities for buyers, while sellers refine their strategies to stand out. The second half of the year may hinge on how economic confidence and seasonal demand play out. In this evolving landscape, partnering with an experienced Windermere agent can provide a clear advantage.
In the process of buying or selling a home, you’ll frequently come across the term “MLS.” The Multiple Listing Service (MLS) is a group of regional databases of homes for sale accessible only to real estate agents and brokers. Their ability to access the MLS makes it easier for buyers to find the right home and for sellers to market their listings.
What is the Multiple Listing Service (MLS)?
The purpose of an MLS is to facilitate real estate transactions by connecting real estate agents and making it easy for them to share information about active listings and sold home data. For buyers and sellers, your agent’s access to the MLS means you’ll be connected to the largest network of homes and listing information on the market.
There are over 500 independent MLSs across the United States, with each MLS showing the homes for sale in a particular geographic region. Listing agents add their clients’ listings to the database—providing photos and detailed information about the property—so buyer’s agents can show them to their clients. The MLS allows for customizable searches, which agents use to easily identify the homes that match their clients’ criteria. The vast amount of historical data available on the MLS is what your agent will use to conduct their Comparative Market Analysis (CMA) to competitively price your home. The listing data in the MLS is fed to real estate brokerage websites, such as Windermere.com, so that buyers can search for homes on their own as well.
Benefits of the Multiple Listing Service (MLS)
Selling a home is a numbers game. The more potential buyers you can reach, the more likely you are to find the right buyer in a timely manner. After your agent conducts their CMA to determine the value of your home, they’ll upload the listing to the MLS. Here, they can add additional information beyond what you would find in a typical listing description, such as showing times, contact information, and more. The MLS provides maximum visibility for sellers by connecting them to buyer’s agents who are actively searching for listings. In today’s market, many MLS platforms offer mobile-friendly tools and agent apps, making it even easier to track showing requests, market updates, and search results on the go. Some even use AI to help agents identify pricing trends or recommend homes that match specific client needs.
The MLS has also helped to make the industry more equitable. Many MLSs enforce policies that promote fair and equitable access to listing data. This includes rules that require agents to submit a listing to the MLS within 24 hours of public marketing, along with principles from the Fair Display Guidelines, which aim to ensure that property listings are represented transparently and are easily accessible. Small real estate brokerages have access to the same MLS info as large companies, putting everyone on a level playing field.
For buyers, the MLS means greater transparency. Agents can set up auto-alerts based on your criteria and ensure you’re seeing listings as soon as they go live. Because the MLS is updated in real-time by licensed agents, it’s often more reliable than national search portals when it comes to availability and details.
What is an MLS number?
An MLS number is a unique code for each home listed on the market. It makes it easier for agents to communicate regarding a specific property. This number also helps agents quickly pull up detailed reports, schedule showings, and share links directly with their clients. If you ever have a question about a home you’ve seen, providing the MLS number ensures your agent can locate it fast.
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