Snohomish County Real Estate Market Update — May 2023
If you're in the market for a new home, or just curious about what's going on in the Snohomish County real estate market, you'll want to read this post. We'll break down all the latest stats and give you an overview of what's happening, both average and sale prices, inventory levels, and more. Plus, we've got some advice for how to stay ahead of the competition when house hunting in today's market. So whether you're a first-time buyer or a seasoned pro, read on for the scoop on Snohomish County real estate!
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
Snohomish County New Listings
With 791 new listings, a decrease from the previous month's 846, the market remained competitive, leading to bidding wars and shorter time on the market.
Snohomish County Active Listings
In April 2023, Snohomish County's real estate market saw a slight decrease in active listings compared to the previous month. With 653 active listings, down from 660 in March, the county continued to experience a tight inventory situation. This limited supply of available homes contributed to the competitive nature of the market, with buyers vying for a smaller pool of options.
Snohomish County Pending Listings
In April 2023, Snohomish County's real estate market witnessed a notable increase in pending listings compared to the previous month. With 804 pending listings in April, up from 784 in March, the county experienced a surge in buyer activity and demand for properties.
Snohomish County Closed Sales
In April 2023, the real estate market in Snohomish County experienced a drop in closed sales compared to the previous month. The number of completed transactions decreased from 703 in March to 628 in April. This decline can be attributed to factors such as limited inventory and intense competition among buyers.
Average Selling Price - Residential Only
In April 2023, the average sales price for residential properties in Snohomish County experienced a decrease compared to the previous month. The average sales price in March stood at $755,819, while in April, it dropped to $782,843. This decline in average sales price could be attributed to various factors, including fluctuations in the types of properties sold and market dynamics during the period.
Snohomish County Average Selling Price - Condominiums
In April 2023, the average sales price for condominiums in Snohomish County showed a slight decrease compared to the previous month. In March, the average sales price for condominiums was $755,819, while in April, it dropped to $732,627. This decline in average sales price may be influenced by several factors, such as changes in the mix of condominiums sold or variations in market demand.
Let RexMont Real Estate Help You Buy Your Next Snohomish County Home
The Snohomish County housing market is always changing, so it’s important to stay up-to-date on the latest data. Rexmont Real Estate is here to help you do just that. We provide monthly updates on the number of homes listed, pending, and sold in Snohomish County, as well as the average selling price per month. If you’re thinking about buying a home in Snohomish County, be sure to check out our website for the latest information. And if you have any questions, don’t hesitate to contact us—we would be happy to help!
Previous Market Updates
March 2023 Snohomish County Real Estate Market Update
This is our previous Snohomish County market update from March 2023.
Snohomish County New Listings
The number of homes listed in Snohomish County this year started at a historic low in January and steadily increased until June before gradually falling throughout the rest of the year. December 2022 was lower than any of the previous years featured, with 512 new listings.
Snohomish County Active Listings
Like new listings, January 2022 active listings started at a historic low of 604, but it was quick to start rising. Active listings peaked in July before gradually falling downward. Snohomish County ended the year with 1,598 active listings, which was a historic high between the previous three years.
Snohomish County Pending Listings
Snohomish County saw a lot of ups and downs throughout 2022 when it came to pending listings. The year started out with a historic low and only saw significant multi-month trends at the beginning and end of the year. December finished with 603 pending listings, another historic low when compared to the previous years.
Snohomish County Closed Sales
Sales started out low in January and rose gradually throughout late winter and spring. Summer saw a slight lull as rising interest rates affected a lot of buyers. However, while sales did slow, they never stopped. After a spike in September, sales fell throughout the remainder of the year, reaching a total of 743 homes sold in December.
Average Selling Price - Residential Only
Snohomish County saw a gradual rise and fall in single-family home prices throughout most of 2022. This changed first in September, which shot up unexpectedly. After futher gradual changes, single-family home prices saw a dramatic fall in December, decreasing by more than $110,000. While this change is significant, December prices are still higher than any month in previous years, with the only exception being December 2021.
Snohomish County Average Selling Price - Condominiums
Multi-family homes in Snohomish County started off 2022 with a historic high, and prices stayed high throughout the year. While there were ups and downs, average sales prices were always higher than in previous years. This also goes for December 2022: while prices were the lowest of the year, December was still higher than any month in 2021 or earlier.
February 2023 Snohomish County Real Estate Market Update
This is our previous Snohomish County market update from February 2023.
Snohomish County New Listings
The number of homes listed in Snohomish County this year started at a historic low in January and steadily increased until June before gradually falling throughout the rest of the year. December 2022 was lower than any of the previous years featured, with 512 new listings.
Snohomish County Active Listings
Like new listings, January 2022 active listings started at a historic low of 604, but it was quick to start rising. Active listings peaked in July before gradually falling downward. Snohomish County ended the year with 1,598 active listings, which was a historic high between the previous three years.
Snohomish County Pending Listings
Snohomish County saw a lot of ups and downs throughout 2022 when it came to pending listings. The year started out with a historic low and only saw significant multi-month trends at the beginning and end of the year. December finished with 603 pending listings, another historic low when compared to the previous years.
Snohomish County Closed Sales
Sales started out low in January and rose gradually throughout late winter and spring. Summer saw a slight lull as rising interest rates affected a lot of buyers. However, while sales did slow, they never stopped. After a spike in September, sales fell throughout the remainder of the year, reaching a total of 743 homes sold in December.
Snohomish County Average Selling Price - Residential Only
Snohomish County saw a gradual rise and fall in single-family home prices throughout most of 2022. This changed first in September, which shot up unexpectedly. After futher gradual changes, single-family home prices saw a dramatic fall in December, decreasing by more than $110,000. While this change is significant, December prices are still higher than any month in previous years, with the only exception being December 2021.
Snohomish County Average Selling Price - Condominiums
Multi-family homes in Snohomish County started off 2022 with a historic high, and prices stayed high throughout the year. While there were ups and downs, average sales prices were always higher than in previous years. This also goes for December 2022: while prices were the lowest of the year, December was still higher than any month in 2021 or earlier.
January 2023 Snohomish County Real Estate Market Update
This is our previous Snohomish County market update from January 2023.
Snohomish County Homes Listed Monthly
The number of homes listed in Snohomish County this year started at a historic low in January and steadily increased until June before gradually falling throughout the rest of the year. December 2022 was lower than any of the previous years featured, with 512 new listings.
Snohomish County Active Listings
Like new listings, January 2022 active listings started at a historic low of 604, but it was quick to start rising. Active listings peaked in July before gradually falling downward. Snohomish County ended the year with 1,598 active listings, which was a historic high between the previous three years.
Snohomish County Homes Pending Monthly
Snohomish County saw a lot of ups and downs throughout 2022 when it came to pending listings. The year started out with a historic low and only saw significant multi-month trends at the beginning and end of the year. December finished with 603 pending listings, another historic low when compared to the previous years.
Snohomish County Homes Sold Monthly
Sales started out low in January and rose gradually throughout late winter and spring. Summer saw a slight lull as rising interest rates affected a lot of buyers. However, while sales did slow, they never stopped. After a spike in September, sales fell throughout the remainder of the year, reaching a total of 743 homes sold in December.
Average Selling Price Per Month - Single-Family Homes
Snohomish County saw a gradual rise and fall in single-family home prices throughout most of 2022. This changed first in September, which shot up unexpectedly. After futher gradual changes, single-family home prices saw a dramatic fall in December, decreasing by more than $110,000. While this change is significant, December prices are still higher than any month in previous years, with the only exception being December 2021.
Snohomish County Average Selling Price Per Month - Condos & Townhomes
Multi-family homes in Snohomish County started off 2022 with a historic high, and prices stayed high throughout the year. While there were ups and downs, average sales prices were always higher than in previous years. This also goes for December 2022: while prices were the lowest of the year, December was still higher than any month in 2021 or earlier.
December 2022 Snohomish County Real Estate Market Update
This is our previous Snohomish County market update from December 2022.
New Listings Monthly in Snohomish County
With 2022 mostly complete, we can see that the year overall has been very average in terms of new listings in Snohomish County. After reaching a peak back in June, the remainder of the year has been spent gradually coming down. While overall, 2022 has had fewer listings than in years past, that could still change in December.
Active Listings Monthly in Snohomish County
Active listings in Snohomish County have been gently declining since July, which is natural for the latter end of the year. Despite this, 2022 has had more active listings in this part of the year than both 2021 and 2020.
Pending Listings Monthly in Snohomish County
Snohomish County has seen a decline in pending listings since hitting a peak in August. However, the difference in pending listings between October and November was much smaller than the stark difference between September and October.
Sales Monthly in Snohomish County
2022 saw another fall in the number of monthly sales with the passing of November. Since September, sales numbers have been falling, but the difference between October and November is much lower than the difference between September and October.
Average Sales Price in Snohomish County (Single-Family Homes)
November has continued to be a very successful month for single-family homes in Snohomish County. While October saw a small dip in average prices, November was back up. Overall, 2022 has been higher overall than any of the previous few years.
Average Sales Price in Snohomish County (Condo & Multi)
After a massive peak back in August, September and October saw decreases, but November was back up. Any increase, even slight, is a good sign and we’re curious what the final weeks of 2022 will look like for multi-family housing.
November 2022 Snohomish County Real Estate Market Update
This is our previous Snohomish County market update from November 2022.
Snohomish County Homes Listed Monthly
The number of residences listed in Snohomish County this year started lower in January and steadily increased until June. It came to a peak in June, before falling throughout the following months. October was no exception, and this October 2022 aligns with previous years.
Snohomish County Active Listings
While 2022 started with historically low inventory, it surpassed both 2020 and 2021 at its peak in July. Since then, active listings have been on a decline. This is expected to continue through November and December, as winter isn’t a popular time for selling homes.
Snohomish County Homes Pending Monthly
For the first three months of 2022, there was consistent growth in residences in Snohomish County. After that, the total number of pending listings rose and fell, hitting its high point in August. October saw a significant decrease due to the month not being popular for buying homes.
Snohomish County Homes Sold Monthly
Like in the previous chart, Snohomish County saw a significant decrease in total sales due to October being an inopportune time for many buyers and sellers. While previous years also saw a decrease in October, 2022 has the largest decrease in recent years, which is likely in part due to rising interest rates.
Average Selling Price Per Month - Single-Family Home
2022 started with the highest average single-family sales price in recent years and rose until April, when it reached its highest point. Between May and August, prices fell slightly until rising again in September. October saw a continuation of the declining pattern, though it wasn’t as significant as it had been over the summer months.
Snohomish County Average Selling Price Per Month - Condos & Multi
After coming down from a massive peak in August, October’s condo and multi-family market has become stable again, decreasing only slightly since September. Previous years have had condo and multi-family home prices both increasing and decreasing at the end of the year, so only time will tell if this pattern will continue.
October 2022 Snohomish County Real Estate Market Update
Here is our analysis of the Snohomish County real estate market as of October 2022.
Snohomish County Homes Listed Monthly
The number of homes listed in Snohomish County began lower in January and consistently went up until peaking in June. Since then, the number of listed homes has decreased each month. However, homes that do get listed haven’t remained on the market for long as buyers jump on listings as soon as the listings are published. As mortgage rates impact buyer affordability, we may see listings linger a little longer on the market as the year progresses.
Snohomish County Active Listings
Snohomish County has seen historically low inventory levels at the beginning of 2022, but numbers climbed through the year until peaking in July. Since then, numbers have decreased slightly since then and are expected to continue through the end of the year.
Snohomish County Homes Pending Monthly
There was a consistent increase in pending homes in Snohomish County for the first three months of 2022. Snohomish County had a significant decrease in June but increased in July and August. September saw another decrease, though this is in line with previous years.
Snohomish County Homes Sold Monthly
At the beginning of the year, sales numbers in Snohomish County were trending upwards from January through May. However, they started trending downwards in June and continued decreasing through August. September saw a large jump upward, but this could change due to increasing mortgage rates affecting buyer affordability.
Average Selling Price Per Month - Single-Family Homes
Snohomish County started the year with four months of rising prices that peaked in April. However, prices decreased from May through August. Despite this, September saw a sizable increase.
Snohomish County Average Selling Price Per Month - Condos & Multi-family Homes
Snohomish County started 2022 with increasing prices that peaked in March. Since then, there has been a pattern of increasing and decreasing. Multi-family home prices saw an overall decrease in September.
September 2022 Snohomish County Real Estate Market Update
Looking to find the latest market update for Snohomish County? Take a look at our overview of what's happening in the Snohomish County real estate market as well as what to expect in the future. If you want to buy or sell a home soon, it's essential to learn the current real estate market trends in your area. Our market stats will help you become an informed home buyer or seller.
Snohomish County Homes Listed Monthly
As illustrated, the number of homes listed in Snohomish County this year began lower at January and constantly went up until June.
It reached its highest as of now on June, but we can see that it went down on July - August. Homes that do get listed haven’t remained on the market for long with anxious buyers jumping on listings as soon as they hit the market. As buyer affordability is impacted by mortgage rates, we may see listings linger a little longer on the market as the year progresses.
Snohomish County Active Listings
The graph illustrates monthly active inventory in Snohomish County in 2022. It has shown historically low inventory but has started going up until July 2022 and is expected to continue in this direction as the year progresses. But it went a bit down this month of August.
Snohomish County Homes Pending Monthly
So far in 2022, we can see that there's a constant increase in homes in pending in Snohimish County for the first three months. Snohomish County had significant decrease on June, but increased this July-August.
Snohomish County Homes Sold Monthly
The graph illustrates the number of homes sold per month. At the beginning of the year, sales numbers in Snohomish County were trending upwards from January up to
May. However, they have started to trend downwards on June up to the recent month which is August, and are expected to continue in that direction as increased mortgage rates will continue to impact buyer affordabilty.
Average Selling Price Per Month - Single Family Home
The graph shows that Snohomish County is trending upwards and reached the highest sales price on April 2022. However, sales price started going down on May and continued until August.
This chart depicts prices from January 2022 to August 2022
Snohomish County Average Selling Price Per Month - Condos & Multi
Looking at the graphs, we can see that Snohomish County is going up until the third month, but went down on April. It went up again on May, and went down on June. However, it started gradually increase again on the recent months which is July-August.
This chart depicts prices from January 2022 to August 2022
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
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