Active listings in Snohomish County jumped 58.2% year over year in April, and the May data is telling the same story. That one number is doing a lot of heavy lifting in my conversations with sellers right now, because it changes how a house needs to be prepped and priced. I've been selling homes here for 17 years, and this is the most “back to fundamentals” market I've worked since rates started climbing in 2022.
What the data actually says
Per the April 2026 NWMLS market report (the most recent county-level release as of early May 2026), new listings in Snohomish County rose to 1,636, up 31.4% year over year, and total homes for sale climbed to 2,456. That pushed months of inventory to 2.2 months, up from 1.6. We are still technically in seller-leaning territory (a balanced market is roughly 4 to 6 months), but the gap between “seller's market” and “balanced” is shrinking fast.
A few more numbers worth sitting with:
- The average sale price across all property types came in at $787,838, down 3.8% year over year, and the median sale price landed near $750,000 per NWMLS data summarized by The Madrona Group.
- Sales Activity Intensity (the share of listings going pending within 30 days) dropped to 49.0% from 54.9% the prior month. Translation: fewer homes are flying off the shelf in the first month.
- The 30-year fixed mortgage rate averaged 6.36% the week of May 14, 2026, down from 6.81% a year earlier, per the Freddie Mac Primary Mortgage Market Survey. Better than 2024, but monthly payments still hurt because home prices held steady.
So the headline isn't a crash. It's a recalibration. More homes to choose from, slightly softer prices, rates that have stopped climbing but haven't dropped enough to flood the market with buyers.
What this means if you're selling
Here is the part I want you to read twice: in a market with 58% more competing inventory, presentation and pricing strategy are not optional anymore. They are the entire game.
My personal NWMLS-recorded sale-to-list ratio over the trailing 12 months is 102.3%. The Snohomish County NWMLS average is 100.2%. That 2.1-point spread (yes, on a $900,000 house, that's roughly $18,900 in your pocket) does not come from luck or vibes. It comes from pricing a home where buyers will fight for it instead of where the seller wishes it were worth, and from prepping a home so it photographs and shows like the best house in its price band. In a 1.6-month inventory market, you could get away with skipping that work. In a 2.2-month market with prices easing, you cannot.
Practical read for sellers right now: if you're listing in the next 60 days, plan for a real prep window (paint, light staging, professional photography, drone, video) and price to invite multiple offers rather than chase the top of the comp range. The homes that are sitting are the ones that priced for last spring's market. The homes that are selling at or above list are the ones that priced for this one.
What this means if you're buying
You finally have room to breathe. With 2,456 homes on the market countywide and rates roughly 45 basis points lower than this time last year (per Freddie Mac PMMS), you have something buyers in 2021, 2022, and most of 2023 did not: time, options, and the ability to write an offer that isn't a desperation bid.
That said, “more inventory” does not mean “buyers' market.” We are still well under the 4 to 6 months of supply that defines balance, per NWMLS monthly snapshots. The well-prepped, well-priced homes in Mukilteo, Edmonds, Mill Creek, Marysville waterfront, and Lake Stevens are still moving in under three weeks with multiple offers. The tired ones are sitting 60 plus days and chopping price. Your job is to know which is which before you write.
A note on rate strategy: if you find the right house at 6.36%, buy it. You can refinance a rate. You cannot refinance the house you didn't get.
Where I'm working right now
I'm currently carrying two active listings, which is by design. My two-clients-max policy is the reason the 102.3% number exists:
- 1406 Potlatch Beach Road, Marysville, $799,900. Puget Sound high-bank waterfront. One of the rarer view setups I've represented this year.
- 4611 76th Street SW, Mukilteo, $975,000. Olympic Mountain view, fully remodeled, the kind of finish level the May buyer pool is actively hunting for.
Both are priced for this market, not last year's.
The closing thought
May 2026 is not scary. It's just more honest than the last few springs were. The buyers who win this market will be the ones who move when the right house shows up, and the sellers who win it will be the ones who treat prep and pricing like the strategic decisions they are.
If you want my read on what all of this means for your specific address (your block, your school district, your timeline), text me. I'll pull the comps and tell you straight.
Always, Kim
Kim Pelham · The Pelham Group NW · Best of Snohomish County 2023 and 2024
Sources: NWMLS April 2026 Report, NWMLS Monthly Snapshot, Madrona Group Snohomish data, Freddie Mac PMMS. Full citation breakdown at thepelhamgroupnw.com/sources.