July 2025 Market for King & Snohomish Counties

July 2025 Market Deep‑Dive

King  &  Snohomish Counties

Inventory is up, prices are edging higher, and mortgage rates are hovering in the mid‑6 percents—setting the stage for a more balanced late‑summer market.

1. Inventory: the 31 percent surge everyone feels

King and Snohomish now offer roughly a third more active listings than a year ago—the most mid‑summer choice buyers have seen since 2019. In practical terms:

• More side‑by‑side comparisons: Shoppers can weigh three or four similar homes before writing.

• Longer days on market: Both counties supply of homes for sale now exceeds a little over 2 months.

• Fewer “take‑it‑or‑leave‑it” terms: Inspection contingencies and modest seller credits are back on the table.

2. Sales & Prices: modest gains, not a spike

• King County: The median single‑family price has stepped back above $1 million, $1,036,000 to be exact, up roughly 7 percent year‑over‑year. Condo prices are flat, reflecting a steady trickle of downtown listings.

• Snohomish County: Detached‑home values have held near $795k—up just under 2 percent—while town‑home prices continue to outpace detached homes on a percentage basis.

• Closed‑sale counts: Virtually unchanged from last summer; the buying pool is steady but not surging.

3. Mortgage Rates: stuck around 6 ½ %

Thirty‑year fixed quotes have hovered between 6.6 – 6.8 percent for most of July. A quarter‑point wiggle in either direction can nudge monthly payments by $150–$200 on a $700k loan, so rate dips still spark brief flurries—but haven’t unleashed a wave of new demand.

4. What to watch this fall

Supportive Factors	Cooling Factors
Still strong Tech employment. Recent layoffs are not significant in total numbers and companies are in selective growth mode.	Inventory growth outpacing sales growth.
Tight rental market nudging long‑term renters toward ownership.	Rates likely to stay “higher‑for‑longer,” capping affordability gains.
Continued population and wage growth in the Puget Sound core.	Realistic pricing and longer list‑to‑sell timelines temper bidding wars.

5. Advice for Each Side

Sellers (Q3/Q4 2025)

1. Price to today’s comps—not last spring’s headlines. Buyers have choices.

2. Upgrade strategically: New heat‑pump AC, fresh paint, and a pre‑inspection shorten market time.

3. Prepare for negotiation. Credits for rate buydowns or closing costs are common again.

Buyers

1. Shop the inventory wave: Selection is widest July–October before winter pullback.

2. Lock when rates dip: Even a 0.25‑point drop can free up $15k–$20k in purchasing power.

3. Plan to refinance later: Many lenders now offer low‑fee “float‑down” refi programs when rates fall.

6. Bottom Line

2025 is shaping up as a year of normalization, with steadier prices, healthier negotiation windows, and a growing emphasis on move‑in‑ready condition.

Need neighborhood‑level numbers or a tailored game plan? Call/text 206‑601‑8945 and let’s chart your next move together.

— Chris Byler, Windermere Real Estate | Byler Real Estate#SeattleRealEstate #KingCountyHomes #SnohomishCountyHomes #MarketUpdate2025 #PNWHousing