Inventory Is Up. That Does Not Mean You Have More Choices.

Housing inventory has increased across many cities in Snohomish and King counties. That sounds like good news for buyers. More homes for sale should mean more choices.

But that is not always how it works.

Everett’s overall inventory increased by 28.6%. If you are looking for a detached residential resale between $600,000 and $749,999, however, inventory in that particular price range increased by only 17.2%.

The overall number is accurate. It just may not describe your home search.

Where Is the Inventory?

Inventory is not one big group of homes that every buyer can choose from. It is spread across different:

• Cities
• Neighborhoods
• Price ranges
• Housing types
• Lot types
• Zoning classifications
• New construction and residential resale properties

If you are looking for a detached home, an increase in condominiums does not give you more choices.

If you need to stay under $750,000, an increase in million-dollar homes does not help your search.

If you need a certain type of lot, zoning, school boundary, or location, only a small portion of the city’s available inventory may actually work for you.

One City Can Have Several Different Inventory Stories

Bellevue’s overall housing inventory increased by 42.9%, but that inventory was not distributed evenly.

Condo inventory increased by 31.4%. Townhome inventory increased by 59.5%, and new-construction inventory increased by 90.5%.

Residential resale also varied considerably by price. Inventory below $1.2 million increased sharply, while inventory between $1.85 million and $2.149 million actually declined.

That means two Bellevue buyers can hear the same inventory headline and have completely different experiences.

One buyer may have considerably more choices. Another may be searching in a segment where fewer homes are available.

The Same Pattern Appears in Other Cities

Marysville’s overall inventory increased by 40.9%. Most buyers would hear that and assume choices increased substantially throughout the city.

But residential resale inventory between $600,000 and $749,999 increased by only 6.4%. At $950,000 and above, inventory declined by 25%. Meanwhile, new-construction inventory increased by 56%.

The additional inventory was real, but it did not appear equally in every part of the market.

Lynnwood tells a similar story. Overall inventory increased by 40.5%, while residential resale inventory between $700,000 and $849,999 remained exactly the same. Inventory at $1.05 million and above declined slightly.

A Lynnwood buyer searching between $700,000 and $849,999 did not suddenly receive more residential resale choices simply because the citywide number increased.

In Lake Stevens, overall inventory increased by 36%, but new-construction inventory declined by 25%. A resale buyer may see more options, while someone specifically searching for new construction may see fewer.

It Depends on What You Are Searching For

So, does more housing inventory give buyers more choices?

Sometimes.

It depends on:

• Where you are searching
• What type of property you want
• Your price range
• Whether you want new construction or residential resale
• Your lot, zoning, and location requirements

More inventory means more properties are available across the market. It does not automatically mean more useful choices are available within your search.

That is why I break NWMLS housing data down by city, housing type, and residential resale price point. A citywide inventory number can tell us that the market is changing. It cannot tell an individual buyer how many homes actually fit what they need.

You can explore my current local market reports to see what inventory looks like within each city, housing type, and price range.

Brandice Raybourn
Real Estate Broker | Coldwell Banker Danforth
Serving Snohomish County, Seattle, the Eastside, and North King County