Snohomish County Real Estate Has Changed in 2025

Snohomish County real estate has shifted. The market was running at a great pace for a while, but now it has slowed to a jog. Some people are calling it a disaster, but that is not what is happening. What we are seeing is a transition.

Inventory has risen. Days on market are up. The number of homes available for sale has increased. That combination has created real opportunity for buyers, especially in areas where prices have softened.

This article breaks down which cities are showing actual price drops and what buyers, sellers, and investors should be thinking about as deal season continues through the rest of 2025.

Why This Market Shift Matters

The media tends to report market changes late. By the time headlines announce a shift, most of the opportunities are already gone.

What matters right now is that the numbers are showing a slower market, but not a collapse. This is the type of environment where buyers can negotiate again, investors can make aggressive offers, and sellers need to be strategic about timing.

Snohomish County Market Snapshot: Prices Are Basically Flat

Looking at Snohomish County year to date:

• Median sales price: $785,000
  
  
• Median appreciation: up only 0.9%
  
  
• Average appreciation: up only 2.7%
  
  

That matters because inflation is still around 3%. If Snohomish County is appreciating at 2.7% or less, that means prices are essentially flat in real terms, and in certain areas, they are actually down.

Why Prices Dropped More in September

The slowdown became more pronounced in September, which is common toward the end of the year, but this year has been sharper.

September numbers show:

• Median sales price down 2.6%
  
  
• Average sales price down 1%
  
  

This pause is being driven by several factors that have consumers pulling back and waiting:

• Tariffs still not fully resolved
  
  
• Geopolitical conflicts creating uncertainty
  
  
• Government shutdown issues
  
  
• Signs of a slowing economy
  
  

When uncertainty grows, consumers hesitate. That hesitation is exactly what creates deal season.

The 10 Year Treasury: The Real Key to What Happens Next

One of the biggest indicators shaping real estate is the 10 year treasury, because it influences mortgage interest rates.

A quick rule of thumb is:
Take the 10 year treasury and add about 2.25%.
That is roughly where 30 year fixed mortgage rates land.

Right now, the 10 year treasury has been trending downward, which means debt is getting cheaper, and cheaper debt brings more qualified buyers into the market.

More buyers plus limited supply equals one thing: higher prices.

That is why 2026 is likely going to outperform 2025 in appreciation.

Why Rates Dropped Before the Fed Announcement

A lot of people think mortgage rates drop after the Federal Reserve meeting, but markets price things in early.

Treasury markets are forward looking. Rates often fall before the Fed announcement because the market is anticipating it.

Right before the last Fed meeting, the 10 year treasury was already under 4%, and mortgage rates dipped to around 6.1%.

After the news became official, rates bounced slightly, but they remained lower than before.

That is why it is realistic to expect mortgage rates near 5.9% or lower in spring 2026, especially with buydowns.

The Cities Experiencing Real Price Depreciation

Month to month changes happen all the time. What matters most is when depreciation shows up year to date. That is when you are seeing a real downward trend.

Below are several examples of Snohomish County cities and zip codes currently showing price declines.

1. Lynnwood (98087): The Worst Performer

Lynnwood has been hit hard.

Year to date:

• Median price down 6.5%
  
  
• Average price down 6.5%
  
  

September vs September:

• Median: $715,000, down 7.1%
  
  
• Average: $750,000, down 11.6%
  
  

That is real depreciation.

2. Monroe (98272): Big Monthly Drop

Monroe saw a major shift in monthly pricing.

Month over month:

• Median down nearly 20%
  
  

Year to date:

• Average down 3.6%
  
  
• Median down 0.6%
  
  

Even if the median is only slightly down, that still shows underperformance because it is not keeping up with inflation.

3. Everett (98203): Clear Softening

Everett is showing price reduction signs.

Year to date:

• Average down 1.9%
  
  

September vs September:

• Average down 7.3%
  
  
• Median down 2.7%
  
  

4. Marysville: Flat, But Weak

Marysville is not dramatically down year to date, but the market is soft.

Month over month:

• Median down 7.7%
  
  
• Average down 1.1%
  
  

5. Stanwood: Major Drop

Stanwood is another standout for declines.

Month over month:

• Average sales price down 21%
  
  
• Median down 11.5%
  
  

Year to date:

• Median down 2.9%
  
  
• Average down 2.3%
  
  

Is This Permanent? Probably Not

This downturn is not expected to continue long term.

Signs already show that the market is stabilizing:

• Listing views are rising
  
  
• Showing activity is increasing
  
  
• Buyers are slowly adjusting to current conditions
  
  
• The Fed is pricing in more cuts ahead
  
  

This looks like a seasonal slowdown combined with a hesitation cycle, not a full crash.

What Buyers Should Do Right Now

If you are a buyer, especially a first time home buyer, this is your window.

This is when you can negotiate for:

• Seller paid closing costs
  
  
• Interest rate buydowns
  
  
• Better inspection timelines
  
  
• Stronger contingencies
  
  

Deal season is built for buyers who need leverage, and leverage exists right now.

What Sellers Should Consider

If you are selling, the spring market will likely be stronger.

Sellers should think about:

• Where the home is positioned in the market
  
  
• Whether the property is in a declining zip code
  
  
• Where you are moving next
  
  
• What you plan to do with the proceeds
  
  

In most cases, waiting until spring may produce better conditions, but the decision depends on your exact situation.

Investors: Make Disrespectful Offers This Winter

This is the investor moment.

If you are investing in Snohomish County, this winter is the time to make aggressive offers. Sellers who list during slower seasons are often more motivated.

The strategy is simple:
Make three to ten offers per week.

Even if most do not land, you only need one deal that hits.

Motivated sellers exist right now, and the numbers show where the opportunities are.

Final Takeaway: Deal Season Continues Through 2025

Snohomish County is not collapsing, but it is shifting. Prices are flat overall, but certain zip codes and cities are clearly experiencing depreciation.

For buyers, this is the window to negotiate.

For sellers, spring may bring stronger demand.

For investors, the move is clear: hunt motivated sellers and make bold offers while the market is still paused.