Celebrating Our Best of Snohomish County Wins – Thank You!

What an incredible night! We are beyond grateful for everyone who joined us to celebrate being voted Best Real Estate Broker & Company and Best Handyman & House Painting for SMART Building Services in the Best of Snohomish County awards.

This recognition is a true honor, and it wouldn’t have been possible without the incredible support of our clients, friends, and community. Whether you’ve trusted us to help you buy or sell a home, or relied on SMART Building Services to keep your home in top shape, we appreciate every one of you.

At The Pelham Group NW, our passion is helping people find not just a house, but a home—one that fits their lifestyle and dreams. Meanwhile, SMART Building Services is dedicated to ensuring those homes remain in top condition, offering expert handyman and house painting services with the same commitment to quality and care.

Our recent celebration was a testament to the strong relationships we’ve built and the community that continues to support us. Seeing so many friendly faces come together to share in this moment meant the world to us.

To our clients, colleagues, friends, and family—thank you! Your trust and support fuel our passion for what we do every single day. We look forward to continuing to serve you in the years to come!

With gratitude,
Kim & Brien Pelham
📍 The Pelham Group NW at Katrina Eileen Real Estate| SMART Building Services

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Things to Consider When Buying or Selling this Spring | New Guides Now Available.

If you’re thinking about making a move this spring or beyond, having the right information is key. That’s why we’re excited to share our Spring 2025 Buyer and Seller Guides—your go-to resources for navigating today’s real estate market with confidence.

Whether you’re a first-time buyer, a seasoned homeowner, or considering selling your property, these guides provide insights into current market trends, key strategies, and expert advice to help you make informed decisions.

What’s Inside the Guides?

✔ Market Trends: Get the latest on home prices, interest rates, and what to expect this spring.
✔ Buying Strategies: From securing financing to finding the perfect home, our buyer guide walks you through each step.
✔ Selling Tips: Learn how to maximize your home’s value and attract the right buyers.
✔ Expert Insights: We break down the key topics impacting real estate in 2025 so you can stay ahead of the game.

Don’t miss out on this exclusive resource! Click below to access the guide that fits your needs:

Spring Buyer’s Guide for 2025:

Spring Buyer’s Guide | 2025

Spring Seller’s Guide for 2025:

Spring Seller’s Guide | 2025

Still have questions or ready to take the next step? Let’s chat! We’re here to help you navigate the market and make the best move for your future.

Snohomish County Real Estate Market Update – February 2025

As we move into the spring season, it’s the perfect time to take a closer look at what’s happening in our local real estate market. February is typically a quieter month, but this year, the numbers tell an interesting story—one that reflects both new opportunities and ongoing challenges for buyers and sellers alike. Let’s break it down.

Market Trends: More Inventory, But Buyers Remain Cautious

One of the biggest takeaways from February’s Northwest MLS Market Snapshot is the significant increase in inventory. Across the NWMLS service area, the number of homes for sale jumped by 39.4% compared to last year.

  • Snohomish County saw a 62.27% increase in active listings compared to February 2024, reaching 947 homes on the market.
  • King County led the pack with a 52% increase, reaching 3,247 active listings.
  • Pierce County followed with 1,376 active listings, up 27.72% year-over-year.

Despite this increase in inventory, pending home sales in Snohomish County dipped 5.09%, while Pierce County saw a 1.51% decrease in pendings. King County, on the other hand, experienced a modest 1.25% increase in pending sales, signaling that buyers are still in the market but proceeding cautiously.

 

What’s Happening with Prices?

Home prices continue to be a hot topic, especially with mortgage rates hovering around 6.76%. The median sales price for residential homes and condos across the NWMLS service area rose 2.4% from January to February, reaching $630,000. However, county-specific trends vary:

  • Snohomish County’s median home price dipped 9.33% from last year, now sitting at $607,500.
  • King County prices remained steady at $820,000, showing stability despite shifting market conditions.
  • Pierce County saw a slight increase of 0.75%, bringing the median home price to $541,000.

This drop in prices in Snohomish County may present a golden opportunity for buyers who have been waiting for more favorable conditions. If you’ve been holding off due to affordability concerns, now might be the time to revisit your options.

Rising Construction Costs Could Impact Home Prices

Another factor that could influence home prices in the coming months is the rising cost of new construction. With newly announced tariffs on imports from Canada and Mexico, construction costs could rise 4% to 6% nationwide, with home fixtures like cabinets and appliances increasing 10% to 20%. This means new builds could become even more expensive, pushing demand back toward existing homes.

What Does This Mean for Buyers and Sellers?

  • For Buyers: More homes on the market mean more choices. While interest rates are still a factor, the decrease in home prices in Snohomish County offers an opportunity to find a home at a more manageable price point.
  • For Sellers: With more inventory available, pricing your home correctly and presenting it well are key to attracting serious buyers. Homes that are priced competitively and well-maintained will stand out in today’s market.

Final Thoughts

The real estate market is shifting, but opportunities exist for both buyers and sellers. Whether you’re looking to move, invest, or simply understand the market better, I’m here to help you navigate the changes. If you have any questions or want to discuss your real estate goals, don’t hesitate to reach out!

Let’s find the right move for you.

  • Kim Pelham | The Pelham Group Northwest

Named Best Realtor in Snohomish County – Thank You!

I am beyond thrilled and incredibly grateful to share some exciting news—I have been voted Best Realtor in the Best of Snohomish County Contest for 2024

This incredible honor would not have been possible without the unwavering support of my amazing clients, friends, and community members. Your votes, trust, and encouragement mean the world to me and my entire team.

Helping people find not just houses, but homes—places where memories are made, dreams take shape, and futures are built—is my passion. I approach every transaction with integrity, expertise, and a heart for service, ensuring that my clients feel confident and supported every step of the way.

Winning this award is more than just recognition; it’s a testament to the strong relationships we’ve built and the dedication poured into every home sale and purchase.

To everyone who took the time to vote, send kind words, and support me throughout this journey—thank you! I’m so grateful to be part of this incredible community and look forward to continuing to serve you with excellence.

If you’re looking to buy, sell, or just need expert advice on your real estate journey, I’m here for you. Let’s make 2025 another amazing year in real estate!

 

Market Insights: Snohomish, King, and Pierce Counties

November 2024 brought the anticipated seasonal slowdown in the real estate market, but the numbers for Snohomish, King, and Pierce Counties reveal important trends for buyers, sellers, and investors. Here’s what the latest data tells us about these dynamic markets.

Active Listings: A Year-Over-Year Surge

Although active listings decreased in November compared to October, year-over-year trends show a significant improvement. King, Snohomish, and Pierce Counties have experienced healthier inventory levels than this time last year. For buyers, this means more options to consider, even as the seasonal market slowdown takes hold.

Closed Sales: A Strong Recovery

In these three counties, closed sales have shown remarkable growth compared to November 2023. The recovery signals sustained buyer interest despite the cooler months. With King County leading in transaction volume, Snohomish and Pierce Counties also showed robust activity, reflecting their appeal to a wide range of homebuyers.

Prices: Regional Growth and Affordability Challenges

King County recorded a median sales price of $837,350, underscoring its reputation as a hub for tech professionals and urban living. Snohomish County’s median price reached $760,000, making it a prime choice for those seeking a balance of value and proximity to employment centers. Pierce County, with comparatively lower prices, continues to attract first-time buyers and those looking for more affordable options.

While prices have grown in all three counties, ongoing affordability challenges highlight the importance of strategic planning for buyers. Legislative changes aimed at increasing housing density and promoting accessory dwelling units (ADUs) are anticipated to help ease pricing pressures over time.

What Does This Mean for You?

  • For Buyers: More inventory means better opportunities, but rising prices may require careful budgeting and loan pre-approval.
  • For Sellers: The strong buyer demand, coupled with limited supply in certain areas, makes this a favorable time to list.
  • For Investors: The upward trajectory of sales and prices in these counties presents solid opportunities for long-term investments in residential real estate.

Looking Ahead

Legislative efforts to increase housing supply in Washington state promise to shape the future of the real estate market in Snohomish, King, and Pierce Counties. For now, understanding these local market dynamics will be critical to making informed decisions in this competitive environment.

For tailored advice and insights, trust Kim Pelham and The Pelham Group Northwest to guide you through the ever-evolving real estate landscape.

Snohomish County Real Estate Market Recap – October 2024

Published on November 6, 2024, by Kim Pelham, The Pelham Group Northwest at Katrina Eileen Real Estate

October’s Dynamic Real Estate Market in Snohomish County

October brought an energetic pace to the Snohomish County real estate market, showing strong growth despite fluctuating mortgage rates and increasing inventory. Here’s an in-depth look at the numbers and trends that shaped the month.

 

Surge in New Listings and Sales Year-Over-Year

The market saw 1,051 new listings in Snohomish County, a 25.8% increase compared to October 2023, offering buyers more choices. Closed sales also rose significantly, with 927 homes sold—a 20.08% increase from the same period last year. This growth reflects the enduring appeal and resilience of Snohomish County as a sought-after location.

Rising Median Sales Price in Snohomish County

The median sales price in Snohomish County reached $753,000, marking a 7.52% increase over October 2023. This upward trend is promising for sellers, as it reflects balanced demand and supply in a market influenced by economic changes. Maintaining this steady price growth underscores Snohomish County’s established value in the region.

Regional Market Trends

According to the Northwest Multiple Listing Service (NWMLS), October brought significant shifts across Washington state, with inventory, closed sales, and pricing seeing notable changes:

  • Inventory Growth: While active listings declined slightly month-over-month, there was a 29.8% increase in inventory year-over-year statewide. Counties like Grant and Pacific saw high inventory growth, offering new opportunities region-wide.
  • Closed Sales Increases: Closed sales rose by 11% month-over-month and 22.5% year-over-year, signaling a strong period for transactions.
  • Median Sale Price: Statewide, the median sale price for homes rose to $650,000, reflecting an 8% increase year-over-year. Snohomish County maintained one of the highest median sale prices in the state, highlighting its pricing strength.

What’s Ahead for the Market?

Looking forward, both buyers and sellers in Snohomish County should consider a balanced approach. Buyers can benefit by monitoring interest rate changes closely, while sellers may capitalize on the region’s stable and growing median price by working with experienced agents for optimal pricing and timing strategies.

For more insights and expert guidance in this evolving market, reach out to The Pelham Group Northwest at Katrina Eileen Real Estate. Our team is ready to help you navigate Snohomish County’s real estate opportunities and achieve your goals.

Snohomish County Real Estate Market Update – September 2024

 

September saw strong activity in the Snohomish County real estate market, with 1,158 new listings coming onto the market and 1,001 properties going under contract, marking a 12.98% increase in pending sales compared to September 2023. Closed sales also saw an uptick, with 898 properties sold—a 4.3% increase year-over-year. The median sales price for single-family homes and condos in Snohomish County rose to $760,000, reflecting a 6.29% gain compared to the previous year.

This data, provided by the Northwest Multiple Listing Service (NWMLS) in its October 2024 report, showcases a market that remains resilient despite ongoing affordability challenges across Washington state.

Interest Rates and Market Trends

Although mortgage rates experienced a slight decline in September, affordability remains a key issue for buyers. The 30-year fixed mortgage rate averaged 6.08% in September, which is still significantly higher than the 3.01% rates available just three years ago. Higher rates have impacted buyers’ purchasing power, yet some relief may come if the Federal Reserve continues its efforts to stabilize the housing market by reducing interest rates further.

Despite these hurdles, Snohomish County’s market continues to offer opportunities for both buyers and sellers, with increased inventory and steady demand for residential properties.

Snohomish County Compared to Other Regions

Snohomish County remains one of the more expensive housing markets in the region, with a median sale price of $760,000 for residential homes and condominiums. While this is lower than King County’s median price of $859,995, it highlights the ongoing demand for homes in the area. As the market begins to stabilize, price growth has slowed compared to the rapid increases seen in previous years, providing a more balanced environment for both buyers and sellers.

More Inventory and Closed Sales

Across the NWMLS coverage area, inventory levels increased significantly, with a 31.4% rise in active listings compared to September 2023. This increase in homes for sale gives buyers more options, even as they navigate higher interest rates. In Snohomish County, closed sales were also up by 4.3%, demonstrating that buyers are still active in the market despite the affordability challenges.

Looking Ahead

As we move further into fall, Snohomish County’s real estate market continues to offer promising opportunities for both buyers and sellers. If you’re thinking about buying or selling a home in Snohomish County, Kim Pelham and The Pelham Group at Katrina Eileen Real Estate are here to guide you through the process. With expert market insights and personalized support, Kim will help you make informed decisions and succeed in today’s dynamic market.

Contact The Pelham Group today to learn more about the current market and how we can assist you in your real estate journey!