This Week’s Stats

New Listings: 255 ↑ (last week: 223) Pending Sales: 227 ↑ (last week: 224) Closed Sales: 112 ↓ (last week: 177) Price Reductions: 159 ↓ (last week: 180)

Weekly Trend Overview

The local market saw a significant injection of new inventory this week with 255 new listings hitting the market. This is one of the highest weekly totals we have seen all year, signaling that many homeowners in Edmonds, Lynnwood, and Shoreline are finally ready to make their move. While the number of homes for sale grew, buyer demand remained extremely steady with 227 homes going under contract, showing that the appetite for housing in our region is not slowing down as we approach the mid point of May.

We saw a dip in closed sales this week to 112, which is often just a reflection of the timing of bank holidays or local recording schedules rather than a shift in overall demand. More importantly, price reductions fell to 159. This suggests that the pricing corrections we saw over the last two weeks are working. Sellers are becoming more attuned to where the market actually sits, leading to more successful initial list prices and fewer adjustments later on.

In areas like Bothell, Mill Creek, and Mukilteo, the market is currently in a state of high activity but with more breathing room for buyers than we saw a month ago. With new listings now outpacing pending sales, inventory is beginning to build slightly. This is a healthy trend that allows for more choices and slightly less frantic bidding wars, provided the property is priced in line with recent comparable sales.

What This Means for You

Buyers

The jump to 255 new listings is great news for your search. For the first time in several weeks, more homes are entering the market than are being sold, which means you have a bit more selection and potentially a little more time to make an informed decision. While the market is still fast, the slight increase in inventory is working in your favor.

Sellers

With 255 new competitors entering the market this week, your home needs to be the best value on the block to capture one of the 227 active buyers. The fact that price reductions are down shows that accurate pricing from day one is the winning strategy right now. Buyers are active and ready to buy, but they are also comparing your home to more available options than they had last month.

If you are curious about how the recent surge in new listings has changed the competition in your specific neighborhood, I am always here to help you analyze the data.

This Week’s Stats

New Listings: 223 ↑ (last week: 216)

Pending Sales: 224 ↑ (last week: 223)

Closed Sales: 177 ↑ (last week: 136)

Price Reductions: 180 ↑ (last week: 142)

Weekly Trend Overview

The local housing market is moving at an incredibly efficient pace as we head into the first full week of May. For the second week in a row, pending sales have matched or slightly exceeded the number of new listings. With 223 new homes entering the market and 224 going under contract, the inventory in South Snohomish and North King County is essentially being absorbed as soon as it arrives. This high level of liquidity is a great sign for the health of our local economy in areas like Edmonds, Shoreline, and Lynnwood.

We also saw a significant spike in closed sales to 177, which is the highest volume we have seen in months. This surge represents the wave of spring buyers who entered the market in late March and early April now successfully reaching the finish line. However, the rise in price reductions to 180 is a critical metric to watch. It highlights that while demand is intense, it is also very specific. Buyers are quickly identifying which homes are priced accurately for today’s interest rates and which ones are missing the mark.

The overall trend suggests a market with a high velocity but very little room for error on pricing. In communities like Bothell, Mill Creek, and Mukilteo, we are seeing a clear divide between homes that spark immediate bidding wars and homes that require a price correction to get noticed. It is a market that rewards sellers who prioritize property condition and professional presentation from the very first day on the market.

What This Means for You

Buyers

The fact that 224 homes went pending this week proves that competition is still the primary factor in your search. Because new listings are being absorbed at a 100 percent rate, you must be prepared to move quickly when the right home appears. However, the 180 price reductions show that there are opportunities to find value if you look at homes that have been on the market for more than two weeks.

Sellers

The massive jump in closed sales and steady pending activity show that the buyers are active and ready to commit. However, the increase in price reductions is a warning that you cannot simply name your price. With 223 new competitors entering the market this week, your home needs to be the most attractive option in its price point to avoid being bypassed for the next new listing.

If you are curious about how this high absorption rate affects your home’s value or if you want to strategize your next move, I am always here to help you navigate these numbers.

This is a great choice for the blog. In a market with so much news about the Fed and interest rates, there is a lot of “chatter” that can cause fear. This post is all about busting myths and providing peace of mind for your clients in South Snohomish and North King Counties.

Here is your blog post with the local touch we have established.

If you spend any time on social media or watching the evening news, you might feel like the housing market is a giant question mark. Between talk of the Federal Reserve leadership changes and fluctuating mortgage rates, it is easy for “worst case scenarios” to start sounding like facts.

However, when we look at the actual data for our local neighborhoods like Edmonds, Lynnwood, and Shoreline, the reality is much more stable than the headlines suggest. To help you move forward with confidence, let’s look at three things that are definitely not going to happen in today’s housing market.

1. We Are Not Heading for a Foreclosure Crisis

One of the most common fears is that we are on the verge of a 2008 style foreclosure wave. The data simply does not support this. Today’s homeowners are in a much stronger financial position than they were two decades ago.

Most homeowners in South Snohomish and North King Counties have a significant amount of equity in their homes. Additionally, lending standards have remained much stricter over the last decade. While we might see a slight return to “normal” foreclosure levels after the historic lows of the past few years, a “crash” caused by foreclosures is not on the horizon.

2. Home Prices Are Not Going to Plummet

Many buyers have been sitting on the sidelines waiting for home prices to “drop” significantly so they can get a bargain. While the rapid, double digit price growth of the early 2020s has slowed down, prices are not crashing.

In our local PNW market, demand remains high because people want to live here. Even with inventory levels up 50% year over year in Snohomish County, we are still seeing a very balanced market. Instead of a price drop, we are seeing a return to a “normalized” market where homes appreciate at a steady, sustainable pace. Waiting for a massive price drop often means missing out on the home you actually want.

3. The Market Is Not Going to “Freeze”

There was a concern that higher rates would completely stop the market as everyone stayed put. While the “lock in effect” is real for some, life does not stop. People still get new jobs, families grow, and others decide it is time to downsize.

We are seeing plenty of activity in neighborhoods like Mountlake Terrace and Mill Creek. Buyers are finding that with the right strategy and the help of a local expert, they can still find a home that fits their needs and their budget. The market is moving, it is just moving with more intention and less chaos than it did a few years ago.

The Local Perspective

Our region remains one of the most desirable places to live in the country. Because we have a strong job market and limited land to build new homes, our local real estate market has a built in layer of protection against the “drastic” scenarios you hear about in national news.

The best move you can make right now is to ignore the noise and focus on the facts. Understanding your own financial situation and the specific trends in your favorite neighborhood is far more valuable than worrying about a national “crash” that isn’t coming.

Moving Forward with Facts

If you have been feeling hesitant because of the headlines, let’s sit down and look at the real numbers. Whether you are thinking of selling your home in Shoreline or buying your first place in Lynnwood, I can provide the local data you need to make a smart decision.

Reach out to me at CENTURY 21 Real Estate Center today. I can also introduce you to my preferred local lenders who live and work right here in our community. They can help you review your options with no obligation, ensuring you have a clear roadmap for your next move.

This Week’s Stats

New Listings: 216 ↓ (last week: 245)

Pending Sales: 223 ↑ (last week: 214)

Closed Sales: 136 ↑ (last week: 108)

Price Reductions: 142 ↓ (last week: 164)

Weekly Trend Overview

The local housing market has settled into an incredibly productive rhythm following the massive inventory surge we saw last week. While the number of new listings dipped slightly to 216, buyer demand actually climbed higher with 223 homes going under contract. This net positive absorption where we are selling more homes than we are listing indicates that the pool of active buyers in South Snohomish and North King County is deep and ready to move.

We also saw a healthy jump in closed sales to 136, showing that the high volume activity from late March is now crossing the finish line. Perhaps the most encouraging sign for the health of the market is the decrease in price reductions to 142. This suggests that after the sudden influx of homes last week, sellers are beginning to align their expectations more accurately with what buyers are willing to pay in areas like Edmonds, Shoreline, and Lynnwood.

Overall, the current environment is one of stable velocity. We are no longer seeing the frantic spikes of early spring, but rather a consistent and high volume exchange. Demand is meeting supply almost perfectly, creating a functional market for those looking to transition from one home to the next. In communities like Bothell and Mill Creek, properties that are move in ready are still the primary drivers of this strong pending activity.

What This Means for You

Buyers

With pending sales outpacing new listings this week, the inventory relief from last week was short lived. Competition remains steady, but the drop in price reductions suggests that homes are being priced more realistically from the start. You should still expect a fast paced environment, especially for well maintained homes, but the market is proving to be very rational right now.

Sellers

The fact that 223 homes went pending this week is a huge green light for anyone thinking of listing. However, with 142 price reductions still occurring, it is clear that buyers are comparing your home against a significant amount of competition. Success this week came to those who priced their homes to reflect the current market value rather than a dream price.

If you would like to know how your specific neighborhood is trending or if you are curious about your home’s current market value, I am always here to help you make sense of the numbers.

If you have been following the financial news lately, you have probably seen two big headlines competing for your attention. First, mortgage rates have finally started to show some downward momentum, with the 30 year fixed rate recently dipping toward the low 6% range. Second, we are on the verge of a major leadership change at the Federal Reserve.

For my neighbors in Edmonds, Shoreline, and Lynnwood, these national stories can feel like they are happening in a different world. However, the connection between the person leading the Fed and the cost of your next home in South Snohomish or North King County is closer than you might think.

Why the Fed Chair Matters to You

Jerome Powell’s term as Chair of the Federal Reserve is officially nearing its end, and the President has nominated Kevin Warsh to take over the role. While the Fed Chair does not have a “dial” on their desk to move mortgage rates up or down, they are the most influential voice in the room when it comes to the country’s monetary policy.

The Fed’s job is a delicate balancing act between controlling inflation and encouraging employment. When the Chair speaks, the markets listen. If a new Chair signals a shift toward more consistent rate cuts, it often creates a “ripple effect” that causes mortgage rates to move lower even before any official policy change happens.

The Trend Toward Lower Rates

The good news for local buyers is that we are already seeing some relief. After a period of significant volatility earlier this year, mortgage rates have recently begun to decline. As of mid April, we are seeing averages that are much more manageable than what we faced throughout 2025.

This downward trend is fueled by a cooling inflation report and the market’s anticipation of how a new leadership style at the Fed might prioritize affordability. For a buyer looking at a home in Mountlake Terrace or Mill Creek, even a half point drop in interest rates can mean saving hundreds of dollars on a monthly mortgage payment.

What This Means for Our Local Market

When interest rates drop, our local market tends to react quickly. In North King and South Snohomish Counties, we have a lot of “latent demand” – buyers who have been waiting on the sidelines for the right moment to jump back in.

As rates become more attractive, we expect to see an uptick in activity. This is why preparation is so important. While lower rates are great for your monthly budget, they also mean more competition for the best homes. If you have been waiting for “the right time,” it is worth noting that many other buyers are watching these same headlines and preparing to make their move.

The Local Perspective

We are currently in a unique window. Inventory in our area has increased significantly over the last year, giving buyers more options than they have had in a long time. When you combine more choices with lower interest rates, it creates one of the most favorable environments for buyers we have seen in several seasons.

However, the transition of power at the Fed can also bring short term uncertainty. Markets generally dislike the unknown, so we may see some minor “wobbles” in rates as the new Chair is confirmed and begins their term. This is why I always recommend focusing on your long term goals rather than trying to time the market to the exact day.

Navigating the Changes Together

Real estate is a long term investment, and the best time to move is when it makes sense for your family and your finances. While the leadership at the Federal Reserve will continue to make headlines, our local communities remain a fantastic place to call home.

If you are curious about how these national trends are specifically affecting home values in your neighborhood or if you want to explore how a lower interest rate changes your purchasing power, I am here to help. Reach out to me at CENTURY 21 Real Estate Center and we can discuss the best strategy for your next move.

This Week’s Stats

New Listings: 245 ↑ (last update: 189) Pending Sales: 214 ↑ (last update: 174) Closed Sales: 108 ↓ (last update: 144) Price Reductions: 164 ↑ (last update: 130)

Weekly Trend Overview

While I was away taking in the sights of Death Valley and connecting with colleagues at our CENTURY 21 ONE21 Conference in Las Vegas, the local housing market was anything but quiet. We saw a massive influx of inventory this past week, with 245 new listings hitting the market in South Snohomish and North King County. This is the highest volume of new weekly inventory we have seen so far this year, suggesting that the “spring surge” has officially arrived in neighborhoods from Edmonds to Bothell.

Buyer demand rose right along with that inventory. Pending sales jumped to 214, a clear indicator that despite the current interest rate environment, local buyers are highly motivated to secure a home before the summer competition intensifies. However, the rise in price reductions to 164 is the most critical number for us to watch. It signals that even with high demand, buyers are not willing to chase unrealistic prices. They are being extremely selective, rewarding homes that are priced correctly and bypassing those that are not.

The dip in closed sales to 108 is a natural reflection of the slightly slower contract activity we saw a few weeks back, but with over 200 homes going pending just this week, we can expect a very busy May for local closings. The overall trend suggests a market that is gaining significant liquidity; there is more to choose from, but the pace is accelerating for well-positioned properties.

What This Means for You

Buyers

The jump to 245 new listings is the best news you have had all spring. You finally have more variety to choose from in areas like Shoreline, Lynnwood, and Mill Creek. With 164 price reductions currently active, you may also have more leverage to negotiate on homes that didn’t fly off the shelf in their first weekend. It is a great time to be an active buyer with a solid pre-approval.

Sellers

The buyers are clearly out in force, but so is your competition. With nearly 250 new listings entering the market, your home needs to stand out immediately. The high number of price reductions shows that “testing the market” is currently a losing strategy. To capture one of those 214 pending sales, your property needs to be priced accurately and presented in top-tier condition from day one.

If you are curious about how this sudden surge in inventory affects the value of your specific home, I am back in the office and ready to help you navigate these shifting numbers.