Snohomish County Housing Market Update – February 2026: Prices, Inventory, and What It Means for Buyers & Sellers

If you’re wondering what’s happening in the Snohomish County housing market, you’re not alone. Whether you’re considering buying, selling, or simply curious about what your home may be worth today, the latest Snohomish County housing market data for February 2026 offers some helpful insights.

Overall, the Snohomish County real estate market is showing signs of gradual stabilization after the volatility of the past few years. Mortgage rates remain a key factor influencing affordability, but local housing demand continues to hold steady.

Below is a breakdown of the latest Snohomish County home prices and market trends, based on data from NWMLS and ShowingTime, along with what the numbers may signal for the next six months. (to normalize the data, it excludes condos, new construction, waterfront homes, and homes on lots larger than ½ acre)

Snohomish County Home Prices

• Average sales price (Feb 2026): $790,000

  • January 2026: $778,000

  • Month-to-Month Change: +1.5%

  • February 2025: $814,000

  • Year-over-Year Change: –2.9%

Why this may have changed

The modest increase in Snohomish County home prices from January to February likely reflects the early stages of the spring buying season, when activity typically begins to increase.

The slight decline compared with last year is likely tied to the higher mortgage rate environment that cooled demand in parts of 2025.

What this may signal

Over the next six months, Snohomish County home values in 2026 may stabilize or gradually increase as buyers adjust to current mortgage rates and more sellers enter the market.

New Listings

• February 2026: 478

• January 2026: 427

• Month-to-Month Change: +11.9%

• February 2025: 364

• Year-over-Year Change: +31.3%

Why this may have changed

The rise in listings suggests more homeowners are deciding to sell despite higher interest rates. Some sellers who delayed listing their homes due to the “lock-in effect” of low pandemic-era mortgage rates may now be entering the market.

What this may signal

More listings typically mean greater selection for buyers, which can reduce bidding wars and help create a more balanced housing market.

Snohomish County Housing Inventory

• February 2026: 579 homes for sale

• January 2026: 470

• Month-to-Month Change: +23.2%

• February 2025: 321

• Year-over-Year Change: +80.4%

Why this may have changed

Inventory levels have risen significantly compared to last year. This is one of the most important developments in the Snohomish County housing market.

After several years of extremely limited supply, more homes are now coming onto the market.

What this may signal

Even with this increase, inventory remains historically low. Over the next six months, this trend could help move the market toward a more balanced environment, though sellers still maintain an advantage in many neighborhoods.

Days on Market (DOM)

• February 2026: 37 days

• January 2026: 52 days

• Month-to-Month Change: –28.8%

• February 2025: 27 days

• Year-over-Year Change: +37.0%

Why this may have changed

Homes are selling faster compared with January as buyer activity increases heading into spring. Seasonal demand typically rises during this time.

However, homes are still taking longer to sell than last year due to affordability challenges.

What this may signal

Well-priced homes are still moving quickly, but buyers are taking more time to evaluate options in the current market.

Final Sales Price vs Original List Price

• February 2026: 98.5%

• January 2026: 96.2%

• Month-to-Month Change: +2.4%

• February 2025: 100.3%

• Year-over-Year Change: –1.8%

Why this may have changed

The increase from January suggests buyers are again paying closer to the original asking price. However, the slightly lower percentage compared with last year indicates buyers still have some negotiating power.

What this may signal

Multiple-offer situations could return in popular neighborhoods if buyer activity continues increasing.

Showings to Pending

• February 2026: 13 showings per pending sale

• January 2026: 16

• Month-to-Month Change: –18.8%

• February 2025: 18

• Year-over-Year Change: –27.8%

Why this may have changed

This metric measures how many home tours typically occur before a property goes under contract. The decline suggests buyers are acting more decisively once they find the right property.

What this may signal

As more homes become available, buyers may narrow their searches and move quickly on the best opportunities.

Mortgage Rates and the Bigger Economic Picture

Mortgage rates continue to play a major role in the Snohomish County housing market outlook for 2026.

According to Freddie Mac and Mortgage News Daily, the average 30-year fixed mortgage rate has been hovering in the low 6% range in early 2026, and even dipped under 6% for a couple days in late February.

Freddie Mac Mortgage Market Surveyhttps://www.freddiemac.com/pmms

Mortgage News Daily: https://www.mortgagenewsdaily.com/mortgage-rates/30-year-fixed

The National Association of Realtors also expects modest home price growth nationally due to ongoing housing shortages. NAR Housing Forecast: https://www.nar.realtor/research-and-statistics

Meanwhile, research from Fannie Mae indicates the U.S. still faces a structural housing shortage, which could continue supporting long-term home values.

Fannie Mae Housing Market Outlookhttps://www.fanniemae.com/research-and-insights

What This Means for Buyers

Buyers in Snohomish County may benefit from:

• More listings entering the market

• Slightly less competition than previous years

• Greater negotiating opportunities

However, well-priced and positioned homes are still attracting strong interest.

What This Means for Sellers

If you're considering selling, the Snohomish County real estate market still offers:

• Historically strong home values

• Increasing buyer activity heading into spring

• Limited long-term housing supply

Homes that are properly priced and well prepared for sale continue to attract buyers.

Final Thoughts on the Snohomish County Housing Market

The Snohomish County housing market in 2026 appears to be moving toward a more balanced environment, but the fundamentals supporting home values remain strong.

Population growth, strong regional employment, and limited buildable land continue to support long-term housing demand.

Over the next six months, the key factors to watch will be:

• Mortgage rate movements

• Inventory levels

• Buyer confidence

Together, these will shape where Snohomish County home prices move through the rest of 2026.

One Last Thought

Markets change, but good decisions are timeless. The advantage right now isn’t timing the market perfectly - it’s understanding it well enough to move forward with confidence when opportunity arises, and fits your plans and goals.

If you’d like help interpreting what this data means for your situation - whether buying, selling, or just planning - I’m always happy to be a resource.

Thank you for taking the time to read!

Cheers,

-Joe