November 2025 Market Update:
By Kim Pelham, The Pelham Group NW
As we move deeper into the winter season, the Northwest Multiple Listing Service has released the November 2025 Market Snapshot, and it tells a story of increased inventory, softer prices, and a market that is rebalancing. For buyers, this shift is creating long-awaited opportunities. For sellers, setting the right strategy is more important than ever.
As someone who specializes in Snohomish County real estate and closely tracks trends across King and Pierce Counties as well, here is my breakdown of what is happening right now and what it means for you.
Snohomish County: Significant Inventory Growth and Softer Prices
Snohomish County saw one of the highest increases in active listings across the entire NWMLS region, jumping from 1,118 active homes in November 2024 to 1,584 in November 2025. That is an increase of more than 41 percent. More homes on the market means buyers have more choices and more negotiating power than they have had in recent years.
At the same time, the median sales price declined from 760,000 in 2024 to 717,500 in 2025. This 5.6 percent decrease shows that the market is adjusting after several years of intense competition and rapid appreciation.
Closed sales also slowed, dropping from 815 to 696 year over year. This cooling trend is consistent with what we normally see in winter, but it is amplified by stable but elevated interest rates and the higher number of available homes.
For sellers in Snohomish County, this means your home must be priced correctly and marketed well to rise above the competition. For buyers, it means opportunity.
King County: Prices Holding Strong, Inventory Rising
In King County, the median sales price dipped slightly, landing at 830,000 compared to 837,350 last year. This change is minimal and signals a relatively stable pricing environment even as inventory rises.
Active listings increased by more than 27 percent year over year, giving King County buyers far more options than they had even one year ago. Pending sales held steady, which tells us that motivated buyers are still engaged and writing offers, but they have more breathing room.
Pierce County: Increased Buyer Activity and Rising Inventory
Pierce County continues to be one of the most approachable markets for buyers, and this month of data reinforces that trend. The median home price held almost even with last year at 558,000.
Active listings increased by 23 percent, showing that sellers are entering the market at a solid pace. Interestingly, Pierce County was the only one of the three counties to see pending sales increase. This rise in buyer activity indicates that affordability continues to drive demand in the South Sound.
With inventory climbing and prices steady, Pierce County is offering a healthy balance for both buyers and sellers.
Overall Market Themes Across the Region
Across Snohomish, King, and Pierce Counties, the data points to several key regional trends:
• Inventory is up significantly across all three counties
• Buyers have more choices and more time to decide
• Prices are softening in Snohomish and slightly in King, while remaining steady in Pierce
• Closed sales declined across the board
• Market conditions are shifting, but not in a dramatic way
• Down payment assistance is becoming more widely available, with more than 75 percent of listings eligible
This is a more balanced and approachable market than we have seen in several years.
What This Means for Buyers
If you felt discouraged by the pace of the market in the past, this winter is working in your favor. The combination of more inventory, fewer bidding wars, and softening prices means you can shop more confidently and make more strategic choices.
Down payment assistance options are also expanding, which opens the door for many buyers who might not have been able to enter the market a year ago.
What This Means for Sellers
Homes are still selling, but buyers are more selective. Presentation, pricing, and a strong marketing strategy are essential. With inventory up, you cannot rely on low competition to push your price higher.
If you are considering selling in 2025, getting ahead of the spring market could be a smart move.
Ready to Talk Strategy?
Whether you are thinking of buying or selling in Snohomish County or want insights into what is happening across King and Pierce Counties, I am here to help you make sense of the numbers and build a plan that aligns with your goals.
Reach out anytime. I would love to support your next move with clarity, data, and confidence.
Kim Pelham
Call or text today at 425.250.9422
The Pelham Group NW
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