Market Perspective: Inventory on the Rise in King & Snohomish Counties

One of the biggest shifts we’re seeing this spring is the dramatic increase in active listings. There are now 34% more homes for sale in King and Snohomish Counties compared to a year ago. This surge in inventory is gradually reshaping the market for both buyers and sellers, and it’s important to understand what that means for you.

King County Real Estate Trends – May Snapshot:

Declining Prices:

The median sales price was $995,000 in May, down from $1,040,000 in April.

Average price per square foot also dipped to $564, down from $575 in April.

Sales Volume Up:

Pending sales jumped to 1,977 in May, up from 1,702 in April—meaning more homes are going under contract.

Homes Still Selling Close to List Price:

The sold-to-list price ratio stayed strong at 100%.

Average days on market was 18 days.

Inventory & Absorption:

The absorption rate sits at 2.3 months—if no new homes came on the market, it would take about two and a half months to sell everything currently listed.

Snohomish County Real Estate Trends – May 2025:

Median Sales Price:

$835,000 in May, up from $771,000 in April.

Average Price Per Square Foot: Steady at $430.

Pending Sales:

869 in May, up from 723 in April.

Sale Price to List Price Ratio:

99%, so homes are selling very close to asking price.

Average Days on Market: 20 days

Absorption Rate:

1.9 months—reflecting a fairly balanced market, though still leaning slightly toward sellers.

What Does 34% More Inventory Mean for You?

For buyers, this means more options and less competition for each listing than we saw last spring. You may have more time to make decisions and negotiate, especially with prices stabilizing or dipping in some areas.

For sellers, while well-presented homes are still selling quickly and close to list price, it’s more important than ever to stand out. Strategic pricing, staging, and marketing are key as buyers have more properties to choose from. There are plenty of other homes on the market that may be competing with your property.

Bottom Line:

The Pacific Northwest market is evolving. Increased inventory is bringing more balance, but every city and neighborhood has its own dynamics. If you’re thinking about making a move this summer—or just want to know how your neighborhood stacks up—reach out. I’m always happy to help you interpret these trends in the context of your real estate goals!