By: Brandice Raybourn
The market insights in this report are based on NWMLS data analyzed by Brandice Raybourn. This report breaks down local housing activity by housing type and residential resale price range. While these trends help explain what is happening across the market, individual neighborhoods, properties, and price points can behave very differently. To see how these trends compare to your specific situation, use the market analysis request form included in this report.
The luxury market is quietly having a strong month in Snohomish.
The $1.25M+ price range had 22 homes go under contract and 19 close, with sellers receiving 100% of their original asking price on average. Meanwhile, some of the more affordable price ranges actually required more buyer showings and longer market times before finding a buyer.
That's not something we see every month.
Luxury buyers were clearly still active in May.
Let's look at the numbers.
Snohomish finished May with 246 active listings, 91 pending sales, and 90 closed sales. The median sales price came in at $997,500.
Homes that sold spent a median of just 10 days on the market, and sellers were generally receiving very close to their asking price, accepting about 0.6% less than their original list price on average.
For a market with nearly 250 homes available, that's still a fairly healthy level of buyer activity.

Source: NWMLS | Analysis by Brandice Raybourn | Real Estate Broker
This one caught my attention.
There were only 12 active new construction homes available, yet 18 went under contract during the month.
That suggests builders are still finding buyers despite ongoing conversations about affordability and interest rates.
The median days on market was 14 days, and builders accepted about 5% less than their original asking price on average.
Builder incentives are likely still playing a role here, even if they don't always show up directly in the sales price.

Source: NWMLS | Analysis by Brandice Raybourn | Real Estate Broker
Most builders pay for your buyer’s agent. So bring one with you on your first visit. If you don’t have one yet… call me 😉 425-367-3881
If you would rather just reach out directly, you can email me anytime. brandice@snohomesbybrandice.com
Condos had 18 active listings, 6 pending sales, and 6 closed sales.
The standout statistic here is seller performance.
On average, condo sellers received 100% of their original asking price, and the median market time was only 7 days.
Small sample size? Absolutely.
Still, that's a strong month for Snohomish condo owners.

Source: NWMLS | Analysis by Brandice Raybourn | Real Estate Broker
Townhomes were surprisingly active.
With 20 active listings, 15 pending sales, and only 10 median days on market, buyers were clearly paying attention to this segment.
Sellers accepted about 5.5% less than their original asking price on average, which suggests buyers had some negotiating room even though homes were still moving relatively quickly.

Source: NWMLS | Analysis by Brandice Raybourn | Real Estate Broker
These price ranges are based on residential resale data only, and the showing numbers are based on closed properties. Active listings on the market may be having a different experience.
This price range had only 5 active listings available and 6 homes go under contract.
Inventory remains extremely limited here.
What's interesting is that homes needed a median of 13 showings before going pending and spent about 25 days on the market.
That tells me buyers are looking, but they're being selective.
The homes that sold generally accepted about 2.8% less than their original asking price.

Source: NWMLS | Analysis by Brandice Raybourn | Real Estate Broker
This range feels balanced.
There were 21 active listings, 7 pending sales, and 10 closed sales.
Sellers received 100% of their original asking price on average, homes sold in just 6 days, and it took a median of 7 showings to find a buyer.
Nothing here suggests buyers or sellers have a major advantage.

Source: NWMLS | Analysis by Brandice Raybourn | Real Estate Broker
This was the busiest resale range in Snohomish.
There were 29 active listings and 16 closed sales.
Homes sold in 13 days on average while sellers accepted roughly 1.3% less than their original asking price.
What stands out is the showing count.
It only took about 6 showings before these homes went pending.
That's relatively low considering the amount of inventory available and suggests buyers are making decisions fairly quickly when the right home hits the market.

Source: NWMLS | Analysis by Brandice Raybourn | Real Estate Broker
This range feels a little more competitive than the numbers might initially suggest.
There were 32 active listings, 12 pending sales, and 13 closed sales.
Homes sold in 18 days and sellers accepted about 3.6% less than their original asking price.
Yet it only took a median of 5 showings before going pending.
That combination is interesting.
Buyers appear willing to move quickly when they find the right home, but they're also negotiating more aggressively than we see in some of the lower price ranges.

Source: NWMLS | Analysis by Brandice Raybourn | Real Estate Broker
Luxury was the strongest story in this report.
There were 41 active listings, 22 pending sales, and 19 closed sales.
Homes sold in just 10 days.
Sellers received 100% of their original asking price on average.
And it only took about 6 showings before these homes found a buyer.
For a price range with this much inventory, that's impressive.
Luxury buyers clearly remained engaged throughout April and May.

Source: NWMLS | Analysis by Brandice Raybourn | Real Estate Broker
If I had to pick one theme for Snohomish this month, it would be this:
The higher-end market is doing surprisingly well.
The luxury resale produced strong pending activity, quick market times, and sellers receiving full asking price. Meanwhile, some of the more affordable ranges actually required more showings and longer marketing periods before finding a buyer.
That's a reminder that not every price range experiences the market the same way.
Something interesting happened here, and it's one of the reasons I always break these reports down beyond the citywide averages.
I publish these reports to help buyers and sellers better understand what is actually happening in their local market using real NWMLS data. Every month I manually break the numbers down by housing type and price range because the overall market rarely tells the entire story.
Every neighborhood, home style, and price point behaves a little differently.
If you're wondering how these trends apply to your specific situation, feel free to reach out. I'm always happy to help you understand the data and what it may mean for your goals.
Brandice Raybourn
Coldwell Banker Danforth
Sno-King County Real Estate Broker
brandice@snohomesbybrandice.com

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