Inventory Surges Across Western Washington as Mortgage Rates Dip Below 6%

The February 2026 housing market data from the Northwest Multiple Listing Service (NWMLS) shows an important shift as we move toward the spring market. Across Washington, housing inventory is rising, giving buyers more choices while mortgage rates have recently dipped below 6% for the first time since 2022.

For buyers and sellers in Snohomish County, King County, and Pierce County, these changes are creating new opportunities and a slightly more balanced market heading into spring.

As a Real Estate Broker specializing in Snohomish County, King County, and Pierce County, I’m keeping a close eye on these trends so my clients can make informed decisions.

Regional Market Snapshot – February 2026

Across the NWMLS coverage area, active inventory increased nearly 28% year over year, bringing total listings to 13,341 homes. More sellers are entering the market as interest rates begin easing and life transitions drive housing decisions.

At the same time:

  • Closed sales: 4,139 homes sold across the region

  • Median sales price: $620,000

  • Month-over-month price change: +4.2%

  • Year-over-year price change: -1.6%

While sales are slightly lower than last year, buyer activity remains strong with increased property showings and broker activity heading into the spring market.

County Housing Market Breakdown

Below is a snapshot of the combined Residential + Condo market totals for the counties most relevant to Pelham Group clients.

Snohomish County Housing Market

Snohomish County continues to see significant inventory growth, giving buyers more options than they’ve had in recent years.

February 2026 – Snohomish County

  • New Listings: 1,034

  • Active Listings: 1,422

  • Pending Sales: 833

  • Closed Sales: 603

  • Median Sales Price: $720,000

  • Year-over-Year Median Price Change: -2.04%

Inventory in Snohomish County increased 50.16% year over year, reflecting a major expansion in available homes compared to early 2025.

 For buyers, that means more negotiating power and more homes to choose from. For sellers, it means pricing and presentation are becoming increasingly important.

King County Housing Market

King County remains the highest-priced housing market in the region, with steady demand across Seattle, the Eastside, and surrounding communities.

February 2026 – King County

  • New Listings: 2,968

  • Active Listings: 4,399

  • Pending Sales: 1,945

  • Closed Sales: 1,364

  • Median Sales Price: $840,000

  • Year-over-Year Median Price Change: +2.44%

Inventory in King County rose 35.48% year over year, indicating a shift toward a more balanced market after several years of tight supply.

Despite the increase in listings, home prices continue to show resilience.

Pierce County Housing Market

Pierce County continues to attract buyers seeking more affordability compared to King and Snohomish counties.

February 2026 – Pierce County

  • New Listings: 1,005

  • Active Listings: 1,720

  • Pending Sales: 1,017

  • Closed Sales: 662

  • Median Sales Price: $568,500

  • Year-over-Year Median Price Change: +5.08%

Inventory increased 25.0% year over year, helping ease the intense competition buyers experienced in recent years.

Pierce County remains one of the fastest-moving housing markets in the region thanks to its relative affordability.

What This Means for Buyers

Several factors are improving the outlook for buyers entering the market this spring:

  • Mortgage rates dipping below 6%

  • More homes available

  • 76% of listings eligible for down-payment assistance programs

With more inventory and improved financing conditions, buyers who were previously sidelined may find new opportunities in the coming months.

What This Means for Sellers

Even with rising inventory, well-prepared homes continue to sell.

Sellers who want to succeed in the current market should focus on:

  • Accurate pricing based on current market conditions

  • Strategic marketing and professional presentation

  • Timing their listing ahead of peak spring demand

Homes that are properly positioned are still attracting strong interest.

Looking Ahead to the Spring Market

The February data suggests we are entering a more balanced housing market across Western Washington.

Key trends to watch:

  • Increasing inventory

  • Slight price adjustments in some areas

  • Strong buyer activity as interest rates stabilize

For both buyers and sellers, preparation and strategy will be critical as we move deeper into the spring real estate season.

Thinking About Buying or Selling?

If you are considering buying or selling in Snohomish County, King County, or Pierce County, I would love to help you navigate the current market and develop the right strategy.

Working with a local expert can help you take advantage of opportunities in a changing market.

Kim Pelham
The Pelham Group
Katrina Eileen Real Estate

Are Home Prices Dropping? Here’s the real story…

You’ve probably seen posts on social media talking about how “home prices are falling.” And when you see something like that, it’s normal to wonder:

Is this the start of a crash?

What does this mean for my house?

Let’s clear this up right away. This is not a crash. And your home is not suddenly losing a lot of value.

The National Story – Prices Are Still Going Up

Here’s what often gets left out of what you’re seeing online. While some markets are experiencing slight declines, they’re the minority. Most places are still seeing prices rise or at the very least, hold steady.

That’s why, at the national level, home prices are still rising, just at a slower pace. According to the National Association of Realtors (NAR):

“Home prices continued to rise in the fourth quarter of 2025. National median prices rose 1.2% year over year to $414,900.”

That’s not the rapid growth of a few years ago, but it’s not a downturn either. And just to really drive this home, here’s a look at the data from NAR at a regional level, so you can see that the negative narrative spun up online isn’t the whole truth (see graph below):

a graph of a number of housesHome prices are up (or at least holding steady) in the Northeast, Midwest, and South. The West has seen some small declines in certain markets, but “small” is the key word.

There is no wave of falling prices across the country. Instead, there are just a few pockets adjusting after several years of what’s typically considered unsustainable or exponential growth.

Yes, Some Markets Have Come Down, But Look at the Bigger Picture.

Okay, but what about the places where prices have declined? According to ResiClub and Zillow, that’s not a cause for major concern. When you zoom out and look at those same markets over the past five years, the story changes (see graph below):

a graph of a number of percentIn the areas with recent declines, home values are still significantly higher than they were just five years ago. That’s a direct reflection of how much home values have gone up.

Online chatter tends to shine a spotlight on the few areas that are down. But the bigger picture shows most homeowners are still in a very strong position.

Of course, every market, and every home, is different. But broadly speaking, home values are holding steady. And this isn’t a sign of widespread trouble in the market.

Bottom Line

Despite what you may be seeing online, home prices are rising or holding steady in most parts of the country.

If you’re curious what your home is worth today, let’s take a look at the numbers together. Because context, and local expertise, matter more than what you’re seeing online.

Inventory Is Growing and Buyers Have More Choices

Inventory Is Growing and Buyers Have More Choices

By Kim Pelham, Broker | The Pelham Group Northwest at Katrina Eileen Real Estate

As we kick off 2026, the Washington housing market is showing a clear shift — and it’s one I’ve been watching closely across Snohomish, King, and Pierce Counties.

Inventory is rising, buyer activity is more measured, and pricing has softened slightly in many areas. This isn’t a market in distress — it’s a market rebalancing.

More homeowners are choosing to list, while buyers are taking a more thoughtful, value-driven approach. That combination is creating opportunity — but only if you understand what the numbers are actually telling us.

Below is a snapshot of where things stand as of January 2026, using the most recent data from the Northwest Multiple Listing Service.

Big Picture Across Washington

Statewide, active listings rose nearly 21% year over year, while closed sales declined about 7%, and median prices dipped just over 3%. That tells us supply is increasing faster than demand, giving buyers more options and sellers more competition.

At the same time, mortgage rates continued a slow downward trend, ending January around 6.10%, which has helped bring buyers back into the conversation — even if they’re moving carefully.

This is very typical of an early-year market reset before spring momentum begins.

Snohomish County Snapshot (Residential + Condos)

Snohomish County continues to be a focal point for many of my clients, and January data shows a noticeable inventory shift.

  • Active Listings: 1,246
    Up 33.0% year over year

  • New Listings: 922
    Down slightly year over year

  • Pending Sales: 733
    Down 11.8% year over year

  • Closed Sales: 438
    Down 21.2% year over year

  • Median Sales Price: $678,500
    Down 9.4% year over year

  • Months of Inventory: 2.84

What this means: Buyers have more choices than they’ve had in quite some time, and sellers need to be thoughtful about pricing and presentation. Homes that are well-prepared and priced correctly are still selling — just not instantly.

King County Snapshot (Residential + Condos)

King County inventory growth continues to ease pressure on buyers, particularly in Seattle and Eastside markets.

  • Active Listings: 3,761
    Up 25.6% year over year

  • New Listings: 2,694
    Up modestly year over year

  • Pending Sales: 1,735
    Down 4.1% year over year

  • Closed Sales: 1,099
    Down 6.9% year over year

  • Median Sales Price: $770,000
    Down 3.6% year over year

  • Months of Inventory: 3.42

King County is clearly moving toward a more balanced market. Buyers are negotiating more confidently, and sellers no longer have the luxury of “testing” high prices without consequence. Strategy matters here.

Pierce County Snapshot (Residential + Condos)

Pierce County is also seeing rising inventory, though pricing has remained comparatively steady.

  • Active Listings: 1,713
    Up 21.9% year over year

  • New Listings: 998
    Up slightly year over year

  • Pending Sales: 912
    Down 5.0% year over year

  • Closed Sales: 608
    Down 3.2% year over year

  • Median Sales Price: $550,000
    Down 1.3% year over year

  • Months of Inventory: 2.82

Pierce County remains attractive for buyers looking for value, but the days of multiple offers on every home are largely behind us — at least for now

What This Means for Buyers and Sellers

For buyers:
This is one of the most negotiable markets we’ve seen in years. More inventory means more leverage — but preparation still matters. Strong financing and good guidance make all the difference.

For sellers:
Homes are still selling, but the market is less forgiving. Pricing, condition, and marketing strategy must be aligned from day one. The best-performing listings are the ones that feel realistic, not reactive.

Looking Ahead

As we move closer to spring, activity typically picks up — but this won’t look like the frenzied markets of the past few years. Instead, expect a more balanced, intentional season where informed decisions win.

If you’re thinking about buying or selling in Snohomish, King, or Pierce County, I’d love to help you understand how these trends apply to your specific situation.

Local data matters — and so does local guidance.

Kim Pelham
Broker | The Pelham Group Northwest
Katrina Eileen Real Estate

Why So Many Homeowners Are Downsizing Right Now

For a growing number of homeowners, retirement isn’t some distant idea anymore. It’s starting to feel very real.

According to Realtor.com and the Census, nearly 12,000 people will turn 65 every day for the next two years. And the latest data shows as many as 15% of those older Americans are planning to retire in 2026. And another 23% will do the same in 2027.

If you’re considering retiring soon too, here’s what you should be thinking about.

Why Downsize?

Now’s the perfect time to reflect on what you want your life to look like in retirement. Because even though your finances will be going through a big change, you don’t necessarily want to feel like you’re living with less.

But odds are, what you do want is for life to feel easier.

Easier to enjoy.

Easier to manage.

Easier to maintain day-to-day.

The Top Reasons People Over 60 Move

You can see these benefits show up in the data when you look at why people over 60 are moving. The National Association of Realtors (NAR) finds the top 4 reasons aren’t about timing the market or chasing top dollar. They’re about lifestyle:

  • Being closer to children, grandchildren, or long-time friends so it’s easier to spend more time with the people who matter most
  • Wanting a smaller, more functional home with fewer stairs and easier upkeep
  • Retiring and no longer needing to live near the office, so it’s easier to move wherever you want
  • Opting for something smaller to reduce monthly expenses tied to utilities, insurance, and maintenance

a graph of age groups

No matter the reason, the theme is the same: downsizing isn’t about giving something up. It’s about gaining control and choosing simplicity. And it brings peace of mind to know your home fits the years ahead, not the years behind.

And the best part? It’s more financially feasible now than many homeowners would expect.

The #1 Thing Helping So Many Homeowners Downsize

Here’s the part that makes it possible. Thanks to how much home values have grown over the years, many longtime homeowners are realizing they’re in a stronger position than they thought to make that move.

According to Cotality, the average homeowner today has about $299,000 in home equity. And for older Americans, that number is often even higher – simply because they’ve lived in their homes longer.

When you stay in one place for years (or even decades), two things happen at the same time:

  • Your home value has time to grow.
  • Your mortgage balance shrinks or disappears altogether.

That combination creates more options than you’d expect, even in today’s market.

So, whether you just retired, or you’re about to, it’s not too soon to start thinking about what comes next. Sure, it can be hard to leave the house you made so many years of memories in, but maybe it’s time to close one chapter to open a new one that’s just as exciting.

Bottom Line

Downsizing is about setting yourself up for what comes next – on your terms.

If retirement is on the horizon and you’ve started wondering what your current house (and your equity) could make possible, the first step isn’t selling. It’s understanding your options.

Let’s talk. A simple, no-pressure conversation can help you see what downsizing might look like – and whether it makes sense for you.

Real Estate Market Update | Snohomish, King and Pierce Counties

As we wrapped up 2025, the real estate market across King, Snohomish, and Pierce Counties continued a trend we have been watching through much of the fall: more homes coming on the market and a bit of softening around pricing in several areas.

Even though mortgage rates ended the year at their lowest point of 2025 at 6.15 percent, many buyers were still navigating affordability challenges. Region-wide, inventory rose compared to last year, while prices edged down slightly in some markets and held steady or strengthened in others.

Closed sales were up modestly year over year, which tells us something important:

Buyers are still active — they are just more selective and value-focused than they were during the peak frenzy years.

Below is a closer look at how December finished out in the three counties I serve most: King, Snohomish, and Pierce.

📊 County-by-County Snapshot

(Residential + Condo Combined)

Snohomish County

Snohomish County saw one of the largest increases in available inventory this winter, which created more breathing room for buyers and a bit more balance in negotiations.

December 2025 vs December 2024

Metric Dec 2025 Dec 2024 YoY Change
New Listings 427 463 ↓ ~7.8%
Total Active Listings 1,135 824 ↑ 37.7%
Pending Sales 567 645 ↓ 12.1%
Closed Sales 706 753 ↓ 6.2%
Median Sales Price $730,000 $744,995 ↓ 2.0%

My perspective

This is a market where preparation and pricing strategy matter. Well-maintained homes are still selling, but buyers have options and they are taking their time to choose the right one.

Pierce County

Pierce County finished the year on a steadier note, with more closed and pending sales than last year and prices holding level.

December 2025 vs December 2024

Metric Dec 2025 Dec 2024 YoY Change
New Listings 493 538 ↓ ~8.4%
Total Active Listings 1,666 1,347 ↑ 23.7%
Pending Sales 771 735 ↑ 4.9%
Closed Sales 799 768 ↑ 4.0%
Median Sales Price $550,000 $550,000 Flat (0%)

My perspective

Pierce has remained relatively price-stable, which often appeals to first-time buyers, military households, and move-up families who want more space at a more attainable price point.

King County

King County continues to be one of the most resilient markets in the region. Inventory increased year over year, yet values generally stayed steady or rose slightly in many sub-markets.

December 2025 vs December 2024

Metric Dec 2025 Dec 2024 YoY Change
New Listings 987 950 ↑ ~3.9%
Total Active Listings 3,159 2,506 ↑ 26.1%
Pending Sales 1,310 1,324 ↓ 1.1%
Closed Sales 1,582 1,542 ↑ 2.6%
Median Sales Price $808,500 $800,000 ↑ 1.1%

My perspective

This remains a market driven by lifestyle, proximity, and neighborhood appeal. Homes that are thoughtfully presented and priced appropriately continue to perform very well.

What I Am Noticing Working With Clients

Across all three counties, a few themes are emerging:

• Buyers are intentional. They are comparing neighborhoods, commute times, and long-term value.
• Sellers who invest in preparation and pricing strategy are seeing stronger results.
• Move-up buyers are quietly returning as opportunities open up.

This is not the hyper-competitive market of a few years ago.
But it is also not a slowdown story.

It is simply a more thoughtful one.

Thinking About a Move in 2026?

Whether you are planning to sell, buy your first home, or make a strategic move-up, I am here to help you understand how these trends apply to your specific situation and neighborhood.

Every market tells a slightly different story, and the right timing and approach can make all the difference.

Let’s talk through your plans, your goals, and your next best step.

Kim Pelham
The Pelham Group Northwest
Katrina Eileen Real Estate

Call: 425.250.9422

More Buyers Are Planning To Move in 2026. Here’s How To Get Ready.

Momentum is quietly building in the housing market. New data from NerdWallet shows more Americans are starting to think about buying a home again. Last year, 15% of respondents said they planned to buy a home in the next 12 months. This year, that number rose to 17%.

That 2% increase might not sound like a big jump, but in a market where buyer demand has been cooling for the past few years, it’s a sign things are starting to shift. More people are feeling ready (or at least closer to ready) to take the leap and buy a home in 2026.

And if you’re in that camp and buying a home is on your goal sheet this year, this is your nudge to connect with a local agent and a trusted lender to start laying the groundwork now.

Planning To Move in Early 2026? Start with These 4 Steps

If you’re eager to get the ball rolling right away, here’s what to tackle first:

  1. Get pre-approved. A pre-approval gives you a real understanding of your buying power and what your payment could be at today’s rates. But keep in mind, Experian says most pre-approvals are only good for 30-90 days, so this step makes the most sense as you’re ready to get serious.
  2. Run the numbers. Look closely at all your expenses to come up with your budget. Consider what you’re spending on other bills and what your monthly mortgage payment would be once you buy. That way you go in with open eyes and you don’t stretch too far.
  3. Define your non-negotiables. Once you know the numbers work, figure out your must-haves. This includes your desired location, commute, layout, school district, lifestyle needs, etc. Getting clear on these now makes decisions easier once you start looking at homes.
  4. Choose your agent early. Look at reviews online and talk to multiple agents to find one you trust that you also click with. The right agent does more than show homes. They help you understand pricing, competition, timing, and strategy before you ever write an offer.

Thinking about Buying Later in the Year? This Is Still Your Window To Prepare

Even if buying feels like a late-2026 goal, this moment still matters. The buyers who feel the most confident later are usually the ones who quietly prepared earlier.

That doesn’t mean big financial commitments or major lifestyle changes. It just means setting yourself up so you’re ready when the timing is right. Here are a few low-stress ways to do that:

  1. Work on your credit. While you don’t need to have perfect credit to buy a home, your score can have an impact on your loan terms and even your mortgage rate. So, working to bring up your score has its perks. Paying down debt now and making payments on time can help bring your score up.
  2. Automate your savings. If you have to remember to transfer money into your homebuying savings manually, you may forget to do it. So, you may want to set up automatic transfers to drive consistency and remove the temptation to spend the money elsewhere.
  3. Lean into your side hustles: Do you have a gig you do (or have done before) to net some extra cash? Taking on part-time work, freelance jobs, or picking up a side hustle can help give your savings a boost.
  4. Put any unexpected cash to good use: If you get any sudden windfalls, like a tax refund, bonus, inheritance, or cash gift from family, put it toward your house fund. You’ll thank yourself later.

The common thread here? The right prep work makes a difference.

Bottom Line

If buying a home in 2026 is on your radar, let’s start the conversation today. Not to rush a decision, but to make sure you know how to get ready for your moment.

Because every move (whether it’s next year or later) is smoother when it starts with a plan. And if you need help coming up with one that works, let’s connect.

Turning a House Into a Home: The Benefits You Can Actually Feel

There’s a lot of conversation about home prices, mortgage rates, and affordability right now – and those things are important. But if you’re thinking about buying a home, it’s worth remembering something the headlines rarely talk about: people don’t buy homes just for financial reasons. They buy them for their lives.

Because while homeownership can absolutely be a smart long-term financial move, it also comes with some emotional benefits spreadsheets just can’t capture. Maybe that’s why a 2025 survey from Fannie Mae notes:

“Consumers were twice as likely to mention lifestyle benefits (67%)—like security, customization, and outdoor space—than financial benefits (34%) when explaining why their homes have become more important in recent years.”

Here are a few reminders of what owning a home gives you that renting never will.

1. A Milestone You Get To Be Proud Of

Buying a home is a big deal. First home, fifth home – it doesn’t matter. It’s a moment you’ll remember. And when you finally get those keys and walk through the door, that feeling of “I did this” hits different. It’s not just a purchase. It’s an accomplishment.

2. A Place That Feels Like Your Reset Button

Life is busy. Having a place that’s truly yours where you can shut the door, take a breath, and settle into your own routine is something renters rarely talk about until they finally experience it. Home becomes the place you go to recharge, not just the place your mail is delivered.

3. Space That Fits the Way You Actually Live

Need a quiet corner for work calls? A backyard big enough for the dog that thinks it’s a person? A shorter drive to see the people who are most important to you? When you own, you get to choose a space that fits your life now and where it’s heading – and it just feels right.

4. Freedom To Make It 100% Yours

Want to paint the kitchen navy? Go for it. Thinking about a wall of floating shelves or a bold wallpaper moment? Do it. Need space for a home gym or a reading nook? Make it happen. Homeownership gives you the freedom to shape your space instead of asking for permission to change it.

Bottom Line

Buying a home isn’t only about dollars and data points – it’s about building a life you love.

So, if you’re thinking about a move in 2026, keep the emotional side in the conversation too. And when you’re ready to explore your options, let’s connect so you have a pro on your side to guide you through the process with clarity and confidence.

National Headlines Have You Worried about Your Home’s Value? Read This.

Hearing talk about home prices falling? That may leave you worried about whether your house is losing value. But here’s what you need to know. While some local markets have seen small price dips this year, home prices are not falling nationally. So, don’t let the headlines scare you.

The vast majority of the country is actually seeing prices rise and remember we track the LOCAL numbers monthly for Snohomish, King and Pierce County and are always happy to do a report on your neighborhood. 

While that may feel surprising after the headlines you’ve seen, the map below uses year-over-year data from the Federal Housing Finance Agency (FHFA) to make that clear:

a map of the united statesLet’s break down what this really shows.

Most states are seeing prices rise (the blue in that map). Not fall. Now, the gains aren’t as big as they’ve been in recent years, but that’s okay. The story is still, prices are growing. And that positive majority is exactly why data from the National Association of Realtors (NAR) shows, nationally, home prices are up 2.1% compared to last year.

But the headlines don’t draw attention to this. They feed on the negative. But even that isn’t as bad as it sounds.

Yes, there are some states where homes have lost value over the past 12 months (the orange in the map above). That’s what all the chatter is drawing attention too. But here’s what the data really says.

The dips aren’t happening everywhere. And in the select states where prices are inching down, it’s slight. The range here is -0.1 to roughly -2%. It’s important to remember that dips aren’t always bad either, if you are a buyer this is a prime time for opportunity. 

And those states are the ones where prices spiked too high, too fast during the pandemic housing boom. There was always going to be a come down period after that. Now, we’re in it. In those places, prices are leveling off. And that’s a sign of normalization, not collapse.

In plain terms: Home prices aren’t crashing. And this isn’t doom and gloom or the sign of broader trouble.

Most Homeowners Still Have Plenty of Value

Just to drive that point home, here’s one more thing to reassure you. Even in the few places where prices dipped slightly, most homeowners are still way ahead. Additional context from Zillow helps prove that point:

  • Only about 4% of homes are worth less than what the owner originally paid.
  • And 96% of homes are still worth more than their homeowners paid for them.

But don’t just take their word for it, see for yourself. When you zoom out and look at how much home prices have grown over the past five years, it’s a lot easier to understand why so many homeowners are still in such great shape.

Nationally, prices are up almost 49% in the last 5 years alone, and just about everywhere saw double-digit price growth in that time frame. That’s why there’s no orange in this map (see below):

a map of the united statesThe truth is, across the board, homeowners are still sitting on substantial gains. So, the -0.1 to -2% declines some states are seeing now? That’s easily absorbed.

So, don’t let the headlines scare you. What’s happening with home prices this year varies a lot from one area to the next. But the takeaway is clear: a small dip in some areas doesn’t mean your home’s value is collapsing.

It means select local markets are correcting – and most of the time these are the ones that saw prices rise the most during the pandemic. You’re probably still in great shape.

Bottom Line

If you’re hearing talk about price drops or crashes, a closer look at the data can help put things in perspective. That’s only happening in some markets. Most of the nation is still seeing prices rise.

And for the vast majority of homeowners, the long-term gains far outweigh any recent softening.

If you want help understanding what’s happening in our local market, let’s connect.

Real Estate Trends to Watch in the New Year

A new year always brings fresh opportunities and in real estate, it also brings new trends, shifting market dynamics, and evolving buyer and seller priorities. Whether you are a homeowner planning to list, a buyer preparing for your next move, or a real estate professional staying ahead of the curve, understanding the trends shaping the housing market can help you move forward with confidence.

As the real estate landscape continues to evolve, several key patterns are already gaining momentum. Below is a breakdown of the major real estate trends to watch in the new year, along with practical insights to help you navigate them.

Why Real Estate Trends Matter

Real estate is not just about properties. It is about people, economics, technology, and lifestyle choices. Trends offer a snapshot of where the market may be heading and what factors can influence home values, inventory, and buyer behavior.

Understanding upcoming trends can help you:

• Plan your next move strategically
• Time your purchase or sale with more confidence
• Understand what buyers and sellers are prioritizing
• Stay prepared for shifts in inventory or pricing

The insights below are educational and based on current market observations. They are not financial or legal advice, but they can help guide expectations for the year ahead.

1. Evolving Mortgage Rate Environment

Mortgage rates continue to fluctuate based on inflation, economic policy, and broader financial conditions. Even small changes can significantly affect affordability and buyer demand.

What to Expect

• Gradual rate adjustments depending on economic conditions
• More flexible mortgage products as lenders adapt
• Buyer activity that speeds up or slows down in response to rate changes

Tips for the New Year

• Buyers: Compare loan options early to find the best fit for your goals
• Sellers: Expect buyer demand to fluctuate with rate changes
• Everyone: Stay informed, as timing can influence overall strategy

2. Inventory Levels Slowly Rebalancing

Low housing inventory has shaped recent markets. While supply may remain tight in many areas, gradual improvement is expected.

What to Expect

• New construction increasing inventory in select markets
• More homeowners listing as confidence improves
• Some markets moving closer to balance while others remain competitive

Tips for the New Year

• Buyers: Be prepared to act quickly when the right home appears
• Sellers: Highlight standout features to remain competitive

3. Continued Growth in Suburban and Secondary Markets

Buyers continue to prioritize space, affordability, and flexibility, fueling demand beyond core urban areas.

What to Expect

• Strong interest in suburban and secondary markets
• Increased competition from out-of-area buyers in affordable regions
• Urban centers remaining desirable but with more selective demand

Tips for the New Year

• Buyers: Explore emerging neighborhoods for long-term value
• Sellers: Emphasize community amenities like parks, schools, and local businesses

4. Rising Popularity of Eco-Friendly Homes

Sustainability has become a major consideration for today’s buyers.

What to Expect

• Increased demand for energy-efficient features such as solar, insulation, and smart thermostats
• Eco-friendly features becoming standard in new construction
• Resale homes with documented upgrades standing out

Tips for the New Year

• Buyers: Ask about utility costs and efficiency features
• Sellers: Clearly highlight energy-efficient improvements in listings

5. Tech-Driven Buying and Selling Experiences

Technology continues to streamline the real estate process from search to closing.

What to Expect

• Greater reliance on virtual tours and digital previews
• More electronic documents and remote closings
• Increased use of AI to match buyers with suitable homes

Tips for the New Year

• Buyers: Use digital tools to narrow your search efficiently
• Sellers: Invest in professional photography, 3D tours, and organized digital documents

6. Affordability Remains a Key Consideration

Affordability continues to shape buyer decisions as prices and economic pressures evolve.

What to Expect

• Increased use of alternative financing options
• Growing demand for smaller homes or more affordable regions
• Longer preparation timelines for first-time buyers

Tips for the New Year

• Buyers: Set a clear budget and explore loan options early
• Sellers: Flexibility such as concessions may attract more buyers

7. Multi-Generational Living Continues to Grow

More households are choosing shared living arrangements for financial, caregiving, and lifestyle reasons.

What to Expect

• Higher demand for homes with in-law suites or flexible layouts
• Builders designing homes with privacy and adaptability in mind
• Increased value placed on separate living areas

Tips for the New Year

• Buyers: Think about future household needs when evaluating layouts
• Sellers: Highlight flexible spaces that support multi-generational living

8. Home Improvements Focused on Function and Comfort

Homeowners continue to invest in upgrades that enhance daily living.

What to Expect

• Interior improvements focused on wellness, light, and layout
• Continued demand for outdoor living spaces
• Smart-home features influencing buyer interest

Tips for the New Year

• Buyers: Look for homes that can adapt to your lifestyle
• Sellers: Focus on updates that improve comfort and usability

Conclusion: Prepare for a Dynamic Year in Real Estate

The real estate market is always evolving, and the year ahead will bring both opportunity and transition. By staying informed about key trends like mortgage rate shifts, inventory changes, sustainability, and evolving buyer priorities, you can approach the year with clarity and confidence.

Whether you are planning to buy, sell, or simply stay informed, understanding real estate trends can help you make more thoughtful decisions. If you would like help navigating market insights or exploring your options, I am always here as a resource and guide.

If you have questions about the market, your home’s value, or your plans for the year ahead, we’re here to help. Reach out anytime for a conversation that’s informative, pressure-free, and tailored to your goals.

Call us: 425.250.9422
Email: hello@thepelhamgroupnw.com

What Buyers and Sellers Need to Know in Snohomish, King, and Pierce Counties

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