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Northwest MLS, the source for the most current, accurate market listing data in Washington state has released its Market Snapshot for May 2025.
Market Recap
In May 2025, there were 6,467 closed sales, representing a 3.3% decrease compared to May 2024 (6,689 sales). However, on a month-over-month basis, closed sales increased by 9.9%, rising from 5,887 in April 2025.
For-sale inventories are continuing to rise from historical lows, and that’s helping bring some life to housing market activity in the NWMLS area.
But questions still abound regarding one of the most critical aspects of today’s market – affordability – and the political and economic factors that influence it.
While increased inventory offers more options for buyers, the persistent affordability gap continues to pose challenges. Sellers may need to adjust expectations to align with buyer capabilities, potentially leading to price adjustments that could stimulate demand.
May 2025 Key Takeaways
Active Inventory For Sale
- There was a 42.63% increase in total number of properties listed for sale year-over-year, with 18,310 active listings on the market at the end of May 2025, compared to 12,837 at the end of May 2024. When compared to the previous month, active inventory increased by 3,851 listings (+26.6%), up from 14,459 in April 2025.
- The number of homes for sale year-over-year increased throughout the NWMLS coverage area, with 24 out of 26 counties seeing a double-digit year-over-year increase. The six counties with highest year-over-year increases in active inventory for sale were Clallam (+72.5%), Snohomish (+64.1%), Ferry (+59.1%), King (+57.7%), Grant (+53.3%), and Adams (+52.3%).
Closed Sales
- The number of closed sales decreased by 3.3 % year-over-year (6,467 in May 2025 compared to 6,689 in May 2024). When compared to the previous month, the number of closed sales increased by 9.9%, up from 5,887 sales in April 2025.
- 14 out of 26 counites saw an increase in the number of closed sales year-over-year. The six counties with the largest increases were Jefferson (+48.4%), Cowlitz (+47.8%), San Juan (+27.8%), Adams (+20%), and Skagit (+17.5%). The total dollar value of closed sales in May 2025 for residential homes was $4,732,782,810 and was $546,957,344 for condominiums ($5,279,740,154 in total).
Median Sales Price
- Overall, the median price for residential homes and condominiums sold in May 2025 was $654,995, a slight decrease of 0.8% when compared to May 2024 ($660,000). When compared to last month, the median price slightly increased, up from $650,000 in April 2025.
- The three counties with the highest median sale prices were King ($865,000), San Juan ($831,000), and Snohomish ($785,000).
Consumer and Broker Activity
NWMLS also provided insights into consumer activities during May 2025:
- Keyboxes located at listed properties were accessed 179,613 times in May 2025, a 42.5% increase in activity from April 2025 when they were accessed 153,949 times.
Active Listings
There was a 42.63% increase in total number of properties listed for sale year-over-year, with 18,310 active listings on the market at the end of May 2025, compared to 12,837 at the end of May 2024. When compared to the previous month, active inventory increased by 3,851 listings (+26.6%), up from 14,459 in April 2025.
The number of homes for sale year-over-year increased throughout the NWMLS coverage area, with 24 out of 26 counties seeing a double-digit year-over-year increase. The six counties with the highest year-over-year increases in active inventory for sale were Clallam (+72.5%), Snohomish (+64.1%), Ferry (+59.1%), King (+57.7%), Grant (+53.3%), and Adams (+52.3%).
Below is a graph of Snohomish County & ALL active listings in all 23 counties:
New Listings
NWMLS brokers added 13,129 new listings to the database in May 2025, a year-over-year increase of 13.5% compared to May 2024 (11,572). When compared to the previous month (April 2025), new listings increased by 20.9%, when 10,858 listings were added to the NWMLS database.
The number of new listings increased year-over-year in 21 of 26 counties. The six counties with the largest year-over-year increases were Adams (+150%), Columbia (+90%), Clallam (+41.2%), Grays Harbor (+41.1%), San Juan (+37.8%), and Grant (+31.9%).
Below is a graph of Snohomish County & ALL new listings in all 23 counties:
Pending Sales
There were 8,249 residential units & condo units under contract in May 2025, a slight increase of .4% when compared to May 2024 (8,220). When compared to the previous month, the number of pending listings increased by nearly 11%, up from 7,435 listings under contract in April 2025.
Below is a graph of Snohomish County & ALL pending sales in all 23 counties:
Closed Sales
The number of closed sales decreased by 3.3 % year-over-year (6,467 in May 2025 compared to 6,689 in May 2024). When compared to the previous month, the number of closed sales increased by 9.9%, up from 5,887 sales in April 2025.
14 out of 26 counites saw an increase in the number of closed sales year-over-year. The six counties with the largest increases were Jefferson (+48.4%), Cowlitz (+47.8%), San Juan (+27.8%), Adams (+20%), and Skagit (+17.5%). The total dollar value of closed sales in May 2025 for residential homes was $4,732,782,810 and was $546,957,344 for condominiums ($5,279,740,154 in total).
Below is a graph of Snohomish County & closed sales in all 23 counties:
Months of Inventory
A balanced market is considered to be 4 to 6 months by most industry experts. At the current rate of sales, it would take a little more than two and a half months (2.83) to sell every home that is active in the NWMLS inventory. The six counties with the lowest months of inventory in April 2025 were Snohomish (1.97), Kitsap (2.01), Thurston (2.12), Pierce (2.18), Cowlitz (2.21), and Skagit (2.61).
Below is a graph of Snohomish County & ALL months of invenory in all 23 counties:
Median Price
Overall, the median price for residential homes and condominiums sold in May 2025 was $654,995, a slight decrease of 0.8% when compared to May 2024 ($660,000). When compared to last month, the median price slightly increased, up from $650,000 in April 2025.
The three counties with the highest median sale prices were King ($865,000), San Juan ($831,000), and Snohomish ($785,000), and the three counties with the lowest median sale prices were Ferry ($138,000), Columbia ($256,000), and Pacific ($323,000).
Below is a graph of Snohomish County & ALL median prices in all 23 counties:
Where do we go from here?
Now is still a great time to sell your home as home values are holding strong and we do have pent-up buyer demand, the overpriced have tapered off, so sellers need to be reasonable in this more balanced market. Buyers now have a slight increase in inventory, giving them options. Buyers have more homes to choose from and we are seeing contingencies and finance options return. Although we are seeing some price adjustments I don’t recommend postponing purchasing, home values are expected to continue to rise in our area. If you think you are saving money by waiting, you should run the numbers. Economists and pundits in real estate all say “buy now”. The anticipated increase in equity across the next two-to-four years will be astonishing.
Northwest MLS Market Report
We continue to see price appreciation year-over-year in most areas. Potential sellers should act now, as this is still an excellent time to put their homes on the market due to low inventory. I will continue to follow the market trends and inform you each month as we move through summer.
Let’s get coffee, chat, or email me if you have any questions about selling or buying real estate. If you want to know what your home is worth, have an interest in a particular area, or want to be put on a search to follow the market and home prices, just let me know. My team & I have many tools to help you make sound investment decisions!
Take a look at Snohomish County Housing Statistics.
May began with:
- 1,451 New Listings
- 1.8 Months’ worth of Inventory
- Median home price of $833,000
Let’s break it down per city:
| CITIES | MEDIAN SALES PRICE | % CHANGE OVER LAST YEAR | MONTHS OF INVENTORY |
| BOTHELL | $1,274,950 | 7.82% | 1.96 |
| LYNNWOOD | $890,000 | -3.26% | 1.46 |
| EVERETT | $831,500 | 1.40% | 1.63 |
| SNOHOMISH | $725,000 | -0.68% | 1.92 |
| LAKE STEVENS | $739,950 | -5.13% | 2.15 |
| MARYSVILLE | $680,000 | 3.11% | 2.36 |
What Does This Data Mean?
Inventory levels continue to be an issue in some places. Most places have 1.5 to 2.5 months of supply available; we are still in a seller-based market. However, we are moving to a balanced market. A balanced market is considered when we have approximately 4-6 months’ worth of inventory. Due to the ongoing demand for real estate in the greater Seattle area, I expect a moderate to robust real estate market going through 2025. We have seen prices holding steady to a slight increase, but I believe prices will continue to increase in the North Sound Region as we move through 2025, especially along the I-5 corridor.
What Does This Mean If You Are Buying A Home in Snohomish County
If you are buying a home in Snohomish County, you may see a pinch in inventory in certain locations; you may have to act quickly. Buyers are out there and very serious, often driving up prices. Interest rates continue to be uncertain. Be sure you are working with an experienced and knowledgeable agent when forming an offer and guiding through negotiations.
As of January 1st, 2024, buyers and agents must be in a “signed” Buyers Brokerage Services Agreement before entering homes. This is a NEW Washington state law. This new agreement clarifies agent commissions and makes the buying process more transparent. As a real estate agent of 22+ years, managing broker for thirteen years, and the designated broker of Keller Williams North Sound in Marysville for eleven years, I’m held to a high standard. I am always on top of form revisions, real estate law & compliance!
This is the perfect time to sign up and receive email notifications when a new home is listed in the Snohomish County real estate market. Email and instant alerts give you an advantage over buyers looking for homes. Please fill out our form below so we can keep you ahead of the competition!
Ask Amy for an Email alert when a Snohomish County Home becomes available.
What Does This Mean If You Are Selling A Home In Snohomish County
Buyers are eager and shopping if you are selling a home in Snohomish County. This is still a seller’s market, and most sellers are getting their asking price and commonly getting over their list price.
Competition means your home needs to be priced competitively. Double-check to make sure your property is in optimum selling condition.
Check the home valuation calculator to get an estimated value for your home. Contact us for a comprehensive report. We work closely with sellers to create a marketing strategy that gets their listings in front of buyers who want to buy.
-Amy Wagner
425.239.2723
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About Amy Wagner – Prime Listings Group
“When You Do What You Love…People Love What You Do”
As a real estate agent, investor and managing broker of Keller Williams North Sound, Amy particularly loves helping people sell their homes fast and teaching and helping people build wealth through real estate investments such as multi-family homes, land development and the fix & flip of houses. She founded Prime Listings Group on the principles of doing better and giving more. We have local experience on our side and we promise to give more than expected. You’ve come to the right place. At PLG you can expect better!
“Great service from the start until closing….”
Amy sold my house quick and for more than I expected. Her whole team was excellent. Great service from the start until closing 10 out of 10⭐️’s!!! Thank you 🙏🏽 Amy Wagner
