Snohomish Real Estate Market Update | August 2025

Hey y’all, it’s Zach McDonald, your real estate agent with Real Property Associates, and this is my Snohomish County Real Estate Market update for August, 2025. Well, good to see all of you if you’re new to the channel. Thanks for joining us. We’re going to talk about the single family sales here in Snohomish County over the past month. We’re going to talk about where the housing market’s headed. I’m going to introduce something new towards the end that I’ve brought up in the weekly market watches. So stay tuned to the end to see the new style of update here for Snohomish County, specifically a little bit more of an accurate time in the market type of update. So let’s look at last month’s stats here, and that’s what we do in these updates. A little bit more granular than some 650 new listings this past month, down from last year at 6 76.

So 3.8% down year over year, but interestingly also down month over month. So normally you expect to see more listings in February than in January. And Snohomish County bucked the trend here. We saw fewer listings month over month as well as year over year. So a little less activity in the market for Snohomish County, not what I would expect to see pending sales also down month over month and year over year down 1% year over year, but again, down month over month. Two close sales are up if we look at last month, but down from last year. So 7.9% fewer from 2024, but more closed sales than last month. So that would be closings that would’ve been pending in January or early February versus December, which makes sense. We should see more closings in February than we do in January, but interesting that we’re not seeing as much of the buying and selling activity in Snohomish County.

Now at the same time, the supply is staying super low, so we’re not seeing that houses are selling way below, asking price or anything like that, but we’re seeing right around asking price. So 0.4% over asking price in February last month, just under asking price on average across Snohomish County. So again, each area is going to be more or less competitive in Snohomish County. The same is said for King County. If you’re closer into the city, then you’re going to have generally more pressure on the prices. You’re going to generally have more activity on the listings, and sometimes in a lot of cases, more multiple offers, scenarios. So you get a little bit farther north in some cases in Snohomish County, and you’re going to have a little bit less competition, and that’s where those averages come in. So parts of Snohomish County are going to be selling over asking price on average versus right at the asking price or just a little bit lower.

And if you want specific data or intel on a specific area, I’m happy to share some of that offline. But for the purpose of this video, we’re focusing primarily on Snohomish County as a whole. So let’s look at the median sales price, 780,000 up, 6.8% year over year, which is great to see if you’re a homeowner, right? It’s not as great to see if you’re a buyer, but median sales price month over month is barely up. So 7 69, 9 50 last month, seven 80 again this month. The average sales price is actually down month over month from eight 70 to 28 to 8 57, 7 88, month over month down, but year over, year up 5.6% in Snohomish County. Again, it’s kind of a weird February for Snohomish County as a whole. We did see the housing inventory tick up slightly. It’s up considerably, just like January was 60% from 20 24, 20 24, and 2023 were super, super low inventory years, and it’s nice to see a little bit more houses available, but still not very much.

As we’re looking at 1.1 months of supply, generally a very competitive housing market, but not as competitive as less than one month of supply, which is what we would’ve seen last year. So looking at Snohomish County in general, I’m a little surprised to see fewer listings, less pending sales month over month, but seeing a lot of the same things I would expect to see, which is the price going up a little bit. The average sales price. So it’s interesting, right? You have two different metrics. You have average where you’re adding up all the numbers and dividing by the number of sales versus median where you are finding the middle number. So in some cases, median’s better than average. Some people prefer average. I think median is generally a little bit better in my opinion, but both of them are useful and both of them are trending up year over year in Snohomish County.

Now, let’s talk about the fun part here. Some new data that I added in over the past couple of weeks in my market watches. So those are weekly snapshot videos, and I think it’s helpful to add these in here for today as we’re looking at Snohomish County, I wanted to test them out first for you. So if we look at the last week in Snohomish County, these numbers have been published, but privately, so we don’t know which house is sold or which one’s got the multiple offers, but it is good data for us to be able to see, okay, what’s happening in the market right now in Snohomish County? So last week, eight 20 was the median sales price unpublished. So even below what we are seeing here for the average for February, we’re seeing that the last week houses are selling 1% above asking price on average.

So a little bit higher than last month for the past week. And then looking at some of these other numbers here, we’ve got pendings with multiple offers. So those are houses that are under contract that had more than one offer. 35% of sales in Snohomish County fit that bill. 35% also included an inspection addendum, which for those that are not as familiar, the inspection addendum is a contingency or an opportunity for a buyer to do an inspection and back out if they don’t like what they see. In this case, more than half of the buyers proceeded without inspection addendum. And in a lot of cases, this maybe was because a seller provided that inspection upfront and others, the buyer took on some risk and was willing to move forward without having that addendum. I won’t say that’s the ideal scenario. If you’re a buyer, I have certainly done it as a buyer where I have proceeded without that contingency, and then of course had work to do that I didn’t know about.

So there’s always a risk reward associated with that as a buyer. And for some buyers, they’re willing to take that risk on for certain reasons. Other buyers don’t want to touch that risk with a 10 foot pole, and that’s probably the safer choice in most cases. Pending sales with a financing addendum, 70%. So in Snohomish County, we saw quite a bit larger percentage of buyers including that in their offer than King County, 70%. That means that some buyers are paying cash and then others are proceeding without that contingency, just like the inspection in a lot of cases, maybe a safer play than the inspection, because inspection is definitely going to cost you money if there are repair items that you don’t know about, whereas the financing, as long as you get to closing, there’s not really any change for you as the buyer. The biggest risk is your earnest money if you’re not able to perform on the purchase.

So maybe that one’s less costly for people on average than the inspection one, and then the pendings with an escalation addendum, 13%. So that means that buyers use that as part of their strategy for negotiation, usually paying more than asking price. In that case, there are other buyers that maybe don’t include that and still pay over asking. So it’s not a great indication of how many houses sold over asking price, but I would say almost that the pendings with multiple offers is probably closer. So if we were to put those two together in some hybrid and maybe weighted the pendings with multiple offers a little bit more, that would probably be a better way to know exactly how many sold over asking price. But again, this is just a snapshot, right? Something helpful for us in the moment with Snohomish County Housing Market, and I’m able to pull these stats for any of the cities in Snohomish County. So if you find yourself looking for some of this data, I’m happy to on the side, provide more specific data for cities that you are most interested. So feel free to reach out to me for some of that info. And if these videos bring value to you and you got some good intel here, please consider subscribing to the channel and telling others about it.