Real Estate Market Update for King, Pierce, and Snohomish Counties

As we begin the new year, it’s an excellent time to reflect on the latest real estate market trends in King, Pierce, and Snohomish counties. Despite shifts in the broader economy, the local housing market has shown resilience and opportunities for both buyers and sellers.
King County: Stability in the Heart of the Market
King County continues to be the centerpiece of the Puget Sound region’s real estate activity. In December 2024, the county saw a slight uptick in new listings and closed sales compared to the previous year. Median home prices remain steady, signaling a balanced market with consistent demand. Buyers are still looking for quality properties, and homes that are priced well continue to sell quickly.
Pierce County: Affordability Meets Demand
Pierce County has maintained its appeal as a more affordable alternative to King County. December 2024 brought moderate growth in both new listings and sales activity, with a healthy increase in median home prices. First-time buyers and investors continue to drive demand in this area, attracted by the mix of suburban charm and proximity to major employment hubs.
Snohomish County: A Significant Surge
Snohomish County’s real estate market has seen remarkable growth in December 2024, especially when compared to the same time last year:
  • New Listings: 463 new homes came to market, up from 385 in December 2023.
  • Closed Sales: A total of 723 homes closed, a notable increase from 627 the previous year.
  • Median Sales Price: The median sales price reached $775,000 in December 2024, a dramatic rise from $550,000 in December 2023.
This surge highlights Snohomish County as a dynamic market with growing appeal. The area’s combination of urban amenities, outdoor lifestyle, and relative affordability compared to King County continues to attract buyers.
Market Trends and Observations
Across the Puget Sound region, housing inventory remains tight, but the increase in new listings in Snohomish County provides a silver lining for buyers. Closed sales in all three counties show that demand remains strong, even with evolving interest rates and economic factors. Sellers are benefiting from rising home values, making it an opportune time to list properties.
What This Means for Buyers and Sellers
For buyers, the increase in new listings in Snohomish County offers more opportunities, but the rising prices emphasize the need for swift decision-making. Partnering with a knowledgeable real estate agent, like Kim Pelham and The Pelham Group Northwest, ensures buyers can navigate this competitive market effectively.
For sellers, the upward trend in closed sales and median home prices in Snohomish County presents an excellent opportunity. Properly marketing and pricing homes can lead to quick and profitable transactions.
Looking Ahead
The real estate market in King, Pierce, and Snohomish counties is poised for continued activity in 2025. With changing dynamics and ongoing demand, having the right guidance is essential. At The Pelham Group Northwest, we’re here to provide expert insights and support for all your real estate needs.
Contact us today to discuss your goals and how we can help you succeed in this dynamic Puget Sound housing market!

How Eco-Friendly Features Can Boost Your Home’s Value

Selling your house? Or just looking to increase the value and appeal of your home for when you do? Here’s something you should know – homebuyers are increasingly looking for homes with environmentally friendly features.

What Energy Efficient Features Do Buyers Want?
According to recent data from the National Association of Realtors (NAR), when buyers think about eco-friendly features, they’re looking for (see visual below):

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Heating and cooling costs: 82% of buyers consider heating and cooling costs to be one of the most important factors when looking for a home. And efficient heating and cooling systems with programmable thermostats can significantly lower monthly energy bills.
Windows and doors with proper insulation: These help maintain comfortable indoor temperatures without overworking the HVAC system, which turns into saving on energy bills.
Energy-efficient lighting and appliances: These can save money on utility bills and reduce a home’s overall energy use too.
Commuting costs and environmentally friendly community features: Living in a community designed with energy-saving amenities and shorter commutes can reduce expenses and environmental impact.
Landscaping for energy conservation: Strategically placed trees and shrubs can lower cooling costs in the summer.
Solar panels: Solar panels can also provide long-term savings and are an attractive feature for eco-conscious buyers.
The common theme? Environmentally friendly features are popular with buyers because they help them save money and make homes more comfortable to live in. But making some of these updates before you sell your house doesn’t just benefit buyers – it’s worthwhile for you too.

How Green Features Benefit You
If your appliances or systems are aging, upgrading them now means you can enjoy the savings and comfort while you’re still living in the home.

The U.S. Department of Energy has introduced Home Energy Rebates, which can provide households with up to $14,000 in savings on energy-efficient upgrades. This includes insulation, duct sealing, heat pumps, and more. These rebates make it more affordable than ever to improve your home’s efficiency.

Then, when you decide to sell, you’ll reap the rewards again. Energy-efficient homes stand out in a competitive market and appeal to the growing group of environmentally conscious buyers.

Studies also show that homes with energy-efficient upgrades, like those with high-efficiency HVAC systems or modern insulation, are more desirable for buyers- and they generally net a higher price. Research from Freddie Mac found that homes with high energy-efficiency ratings sold for 2.7% more on average than homes without these upgrades.

Work with a Real Estate Agent to Maximize Value
Not sure which upgrades to prioritize? That’s where a local real estate agent comes in. They can help you identify the eco-friendly features that buyers in your area value most. Whether it’s adding Energy Star appliances or improving insulation, they’ll guide you in making the best choices for your house and your budget.

Bottom Line
Making environmentally friendly upgrades can pay off in more ways than one. You can enjoy saving on energy bills and improved comfort now. Additionally, you’ll have the satisfaction of knowing you’re contributing to a more sustainable future while adding value to your home. Ready to learn more about how you can make your house stand out? Let’s connect.

Winter Buyer and Seller Guides are Hot Off the Press

Are you thinking about buying or selling a home this winter? Kim Pelham and The Pelham Group Northwest have you covered with our brand-new Winter Buyer and Seller Guides!

These guides are packed with the latest insights, market trends, and tips to help you navigate the unique opportunities and challenges of the winter real estate market. Whether you’re ready to make a move or just starting to explore your options, these guides will give you the knowledge you need to succeed.

Click to view our Winter Buyer’s Guide today!

Winter Buyer’s Guide

Click to view our Winter Seller’s Guide today!

Winter Seller Guide