Snohomish County Real Estate Market Update for May 2026
Northwest MLS, the source for the most current, accurate market listing data in Washington State has released its Market Snapshot for May 2026.
Washington State Real Estate Market Recap
In May 2026, there were 6,213 closed sales, representing a 3.9% decrease compared to May 2025 (6,467 sales). When compared to the previous month, closed sales increased 9.5%, up from 5,674 sales in April 2026.
May 2026 Key Takeaways
Active Inventory For Sale
- The total number of properties listed for sale increased 16.8% year over year, with 21,381 active listings on the market at the end of May 2026, compared to 18,310 at the end of May 2025. Month over month, active inventory increased by 15.2%, up from 18,563 in April 2026.
Closed Sales
- Closed sales decreased 3.9% year over year, with 6,213 transactions in May 2026 compared to 6,467 in May 2025. Month over month, sales increased 9.5%, up from 5,674 in April 2026.
Median Sales Price
- The median sales price for residential homes and condominiums sold in May 2026 was $650,000, a decrease of 0.8% compared to May 2025 ($654,995). Month over month, the median price was unchanged from April 2026.
Consumer and Broker Activity
NWMLS also provided insights into consumer activities during May 2026:
- Keyboxes located at listed properties were accessed 182,173 times in May 2026, a 12.16% increase in activity from April 2026 when they were accessed 162,421 times.
Active Listings
The total number of properties listed for sale increased 16.8% year over year, with 21,381 active listings on the market at the end of May 2026, compared to 18,310 at the end of May 2025. Month over month, active inventory increased by 15.2%, up from 18,563 in April 2026.
Buyers had access to nearly 2,800 more homes than the previous month, continuing a trend of rapidly expanding inventory across the Northwest MLS service area. While inventory levels remain below historical norms in many areas, the number of available homes is at its highest level so far in 2026.
Nearly all NWMLS counties experienced year-over-year inventory growth. The five counties with the largest year-over-year inventory increases were Okanogan (+43.7%), Walla Walla (+38%), Thurston (+35.6%), Snohomish (+33.6%), and Chelan (+29%).
Below is a graph of Snohomish County & ALL active listings in all 23 counties:
New Listings
NWMLS brokers added 12,562 new listings to the database in May 2026. While that represented a year-over-year decrease of 4.3% compared to May 2025 (13,129), new listings increased 3.3% from April 2026, when 12,155 listings were added to the NWMLS database.
The modest month-over-month increase suggests sellers remain active as the market moves into the summer season, even as higher inventory levels provide buyers with more options than they had a year ago.
Below is a graph of Snohomish County & ALL new listings in all 23 counties:
Pending Sales
There were 8,168 residential and condominium units under contract in May 2026, a slight decrease of 1.0% compared to May 2025 (8,249). However, pending sales increased 7.7% from April 2026, when 7,584 listings were under contract.
The month-over-month increase in pending sales indicates buyers remained active despite affordability challenges and higher mortgage rates. However, inventory continues to grow faster than buyer demand, contributing to a more balanced market environment.
Below is a graph of Snohomish County & ALL pending sales in all 23 counties:
Closed Sales
Closed sales decreased 3.9% year over year, with 6,213 transactions in May 2026 compared to 6,467 in May 2025. Month over month, sales increased 9.5%, up from 5,674 in April 2026.
Although annual sales activity remains below year-ago levels, the increase from April reflects the typical seasonal spring market acceleration. The total dollar value of closed sales in May 2026 was $4.68 billion for residential homes and $446.5 million for condominiums, for a combined total of $5.13 billion.
Below is a graph of Snohomish County & closed sales in all 23 counties:
Months of Inventory
A balanced market is considered to be four to six months of inventory by most industry experts. At the current rate of sales, it would take approximately 3.44 months to sell every home currently active in the NWMLS inventory, up from 3.27 months in April.
The increase in months of inventory reflects the growing supply of homes available for sale and provides buyers with more negotiating power and choice than they have had in recent years. While inventory remains below balanced market levels in many counties, conditions continue to move toward a more balanced market overall.
Below is a graph of Snohomish County & ALL months of inventory in all 23 counties:
Median Price
The median sales price for residential homes and condominiums sold in May 2026 was $650,000, a decrease of 0.8% compared to May 2025 ($654,995). Month over month, the median price was unchanged from April 2026.
Despite substantial inventory growth throughout the region, home prices have remained remarkably stable. The combination of increased inventory and relatively flat pricing may create opportunities for buyers who have struggled with limited housing supply over the past several years.
The counties with the highest median sales prices were San Juan ($1,125,000), King ($875,000), and Snohomish ($759,875), while the lowest median prices were recorded in Adams ($309,000), Okanogan ($327,000), and Grays Harbor ($369,000).
Below is a graph of Snohomish County & ALL median prices in all 23 counties:
Northwest MLS Market Report
Home values continue to appreciate year-over-year in most areas, making it a great time for potential sellers to consider listing. If you’re thinking about making a move, now is still an excellent window of opportunity. I’ll be closely tracking market trends and will continue to keep you updated each month as we go through spring.
If you have any questions about buying or selling, I’d love to connect, whether over coffee, a quick call, or by email. If you’re curious about your home’s current value, interested in a specific neighborhood, or want to stay informed with a custom home search, just let me know.
My team and I have the tools and experience to help you make smart real estate decisions.
Take a look at the Snohomish County Real Estate Market Update.
May began with:
- 1,393 New Listings
- 2.59 Months’ worth of Inventory
- Median home price of $800,000
Let’s break it down per city:
| CITIES | MEDIAN SALES PRICE | % CHANGE OVER LAST YEAR | MONTHS OF INVENTORY |
| BOTHELL | $1,165,000 | -8.62% | 2.95 |
| LYNNWOOD | $875,000 | -1.69% | 2.20 |
| EVERETT | $767,500 | -7.70% | 2.24 |
| SNOHOMISH | $720,000 | -0.69% | 2.54 |
| LAKE STEVENS | $758,001 | 2.44% | 2.94 |
| MARYSVILLE | $659,000 | -3.09% | 2.98 |
Click here to learn more about mortgage rates.
What Does This Data Mean?
The Northwest MLS housing market continued shifting toward a more balanced environment in May 2026, with active inventory rising 16.8% year over year and reaching its highest level of the year. While new listings remained strong and buyer activity increased from April, inventory growth continued to outpace demand. Home prices remained stable, with the median sales price essentially unchanged month over month and down just 0.8% from a year ago. At 3.44 months of inventory, the market is moving closer to balanced conditions, though it still generally favors sellers in many areas.
What Does This Mean If You Are Buying A Home
Buyers are benefiting from significantly more choices than they had a year ago, with more than 21,000 homes available and inventory continuing to grow. Increased supply, stable prices, and a slower pace of sales are creating better opportunities to compare properties, negotiate terms, and avoid the intense competition that characterized recent years. While affordability and mortgage rates remain challenges, market conditions are becoming more favorable for buyers.
What Does This Mean If You Are Selling A Home
Sellers are still finding active buyers, as evidenced by the month-over-month increase in pending and closed sales, but they are facing more competition from a growing number of listings. With inventory rising faster than demand and prices remaining relatively flat, strategic pricing and strong property presentation are becoming increasingly important. Well-positioned homes continue to sell, but sellers should expect a more competitive environment than in recent years and may need to be more flexible during negotiations.
Double-check to make sure your property is in optimum selling condition.
Check the home valuation calculator to get an estimated value for your home. Contact us for a comprehensive report. We work closely with sellers to create a marketing strategy that gets their listings in front of buyers who want to buy.
Thank you for reading this month’s Snohomish County Real Estate Market Update. I’m committed to keeping you informed about local housing trends and opportunities. Contact me anytime for expert guidance on your real estate goals in Snohomish County.
Amy (Wagner) Bounds, Realtor – Prime Listings Group
amy@primelistingsgroup.com
425.239.2723
