March 2025 Snohomish County Housing Market Update

By Matt Stark

Matt Stark is a top 1% REALTOR® in Seattle with over 19 years of experience. A Seattle native, he began his career in 1999 as an investor before transitioning to full-time real estate.

It’s March 2025, and if your home isn’t selling or you’re still planning to list soon, I’m going over everything you need to know. The real estate market in Snohomish County is shifting, and it’s important to understand what’s happening so you can make smart decisions.

Inventory is rising and homes are sitting longer. Right now, we have about 35% more homes on the market compared to this time last year. That’s a big jump, and it means there are more options for buyers. At the same time, homes are sitting on the market longer. The number of listings that have been active for over three weeks is up by about 25%. If your home isn’t getting traction, this could be why. You’re not alone. More inventory means more competition.

Buyer demand is up, but not enough to keep up. There is some good news. Buyer demand has increased slightly. The number of homes that have gone under contract so far in 2025 is up by around 7% compared to last year. However, that’s still not enough to balance out the increase in supply. Simply put, there are more homes than buyers right now, and that’s impacting how quickly homes sell.

More homes are seeing price reductions. In early 2024, about 12% of homes reduced their asking price. This year, that number has jumped to 33%. That tells us that pricing is critical. Even though we’ve seen about 5% appreciation compared to last year, overpriced homes are sitting longer and often need price cuts to attract buyers.

What happens next depends on interest rates. If interest rates come down, we could see more buyers enter the market, which would help absorb the extra inventory and possibly push prices higher. If rates stay where they are, we may see more homes continue to come on the market this spring. That could lead to more competition among sellers and more downward pressure on pricing.

If you’re thinking about selling or if your home has been listed with no offers, this is the time to reassess. The right pricing and timing are key. I can help you look at the numbers, review your local market, and make sure you’re set up for the best possible outcome. Call me at 206-940-4557, or send an email to matt@mattstarkrealestate.com. Let’s make sure your next move is the right one.