Snohomish County Housing Market Update for November 2026: Prices Fall as Homes Take Longer to Sell

November 2026 edition | Housing data through October 31, 2026

For the latest local housing data from Snohomish, Skagit, and King Counties, as well as other key real estate and economic data, visit JoeFrankRealtor.com/data.

Latest Snohomish County Housing Market Update for November 2026

Snohomish County home buyers had more choices and sellers faced a slower market in October. The average resale home price fell to $780,000, down 5.2% from September and 0.9% from a year ago.

But this price drop only tells part of the story.

There were 44.5% more homes for sale than last October, while closed sales fell 23.4%. Homes also took longer to sell and sold farther below their first asking price.

My read: buyers have gained bargaining power. Sellers can still make a successful move, but waiting for a better market is a bet, not a plan.

Important Note About This Snohomish County Housing Data

The following data is the most recent available as of October 31, 2026. It excludes condos, newly built homes, and waterfront homes, and only examines resale single-family homes on a half-acre or less. These limits help make the comparisons more useful and keep the focus on the typical resale home.

If you would like details about newly built homes, waterfront homes, homes on acreage, condos, or another property type, please contact me. I’d be happy to provide the specific data you’re looking for.

The main figures below come from my NWMLS and ShowingTime data pull. New construction and outside reports are identified separately because they may cover different types of homes.

These are countywide numbers, not a value estimate for your home. Results can vary by city, community, neighborhood, and even street. Request a free, no-obligation home value and market assessment for a closer look at your property.

Snohomish County Housing Market at a Glance

Average Sales Price: $780,000

• September 2026: $823,000 → October: $780,000. Down 5.2%.

• October 2025: $787,000 → October 2026: $780,000. Down 0.9% year over year.

• What it means: The average dropped $43,000 in one month. That does not mean each home lost $43,000. A different mix of homes sold can move the average. Still, lower prices alongside longer selling times suggest sellers should check today’s competition before setting a price.

New Listings: 554

• September 2026: 657 → October 2026: 554. Down 15.7%.

• October 2025: 539 → October 2026: 554. Up 2.8% year over year.

• What it means: Fewer homes came onto the market as we moved deeper into fall. That may ease some competition for sellers. Yet new listings were slightly higher than last October, so the monthly drop alone does not show a tighter market.

Homes For Sale: 1,315

• September 2026: 1,383 → October 2026: 1,315. Down 4.9%.

• October 2025: 910 → October 2026: 1,315. Up 44.5% year over year.

• What it means: Buyers had 405 more resale homes to choose from than a year earlier. Inventory fell during October, but it did not fall nearly as fast as new listings. That fits a market where homes are taking longer to move.

• New construction side note: Separately, newly built homes listed for sale fell from 431 to 414, a 3.9% decrease. These homes are excluded from the resale figures and absorption calculations within this article.

New listings are the homes entering the market during a month. Inventory is the pool still available at month-end. Listings can leave that pool when they go pending, expire, or are withdrawn; some return after a sale falls through. That is why adding new listings and subtracting closed sales will not neatly explain the inventory change.

Average Days on Market: 36 Days

• September 2026: 32 → October 2026: 36. Up 12.5%.

• October 2025: 28 → October 2026: 36. Up 28.6% year over year.

• What it means: The average selling time grew by eight days from last year. Buyers appear to have less reason to rush. Sellers should allow more time and watch early showing activity closely. This is a reported market-time measure, not a promise that a sale will close in 36 days.

Final Sales Price as a Percentage of Original List Price: 96.3%

• September 2026: 96.7% → October 2026: 96.3%. Down 0.4% .

• October 2025: 97.4% → October 2026: 96.3%. Down 1.1%.

• What it means: Homes sold an average of 3.7% below their original asking price. Some of that gap may reflect price cuts before an offer, and some may reflect negotiation. It does not mean every buyer can get 3.7% off a home’s current list price. Seller concessions can also be part of a transaction, but not reflected in the final sales price. Seller concessions are an increasing factor in home transactions as buyers continue to gain the upper hand.

For scale, 96.3% of an $800,000 original asking price is $770,400, which is a $29,600 gap. This is an illustration, not a pricing formula. The ratio also does not tell us the seller’s net proceeds after credits, repairs, and selling costs.

Price per Square Foot: $393

• September 2026: $424 → October 2026: $393. Down 7.3%.

• October 2025: $428 → October 2026: $393. Down 8.2% year over year.

• What it means: This decline adds to the evidence of softer pricing. But it is not a measure of how the same homes changed in value. Home size, condition, location, and the mix of sales affect this figure. Simply multiplying your home’s square footage by $393 could give a very misleading value.

Shows to Pending: 12 Showings

• September 2026: 12 → October 2026: 12. Unchanged, or 0.0%.

• October 2025: 13 → October 2026: 12. Down 7.7% year over year.

• What it means: This measures showings, not days. Homes that went pending needed about the same number of showings as in September. Together with longer market times, that may suggest those showings were spread out more. It does not prove that overall buyer traffic improved or describe homes that never went pending.

Closed Sales: 356

• September 2026: 409 → October 2026: 356. Down 13.0%.

• October 2025: 465 → October 2026: 356. Down 23.4% year over year.

• What it means: There were 109 fewer completed sales than last October. Fall timing may explain part of the monthly decline, but the year-over-year drop deserves attention. Closed sales usually reflect decisions made weeks earlier, so new pending sales will help show where demand goes next.

What Is the Housing Absorption Rate and What Does It Tell Us?

The absorption rate compares how many homes sold during a month with how many were available at month-end.

Monthly absorption rate = closed sales during the month ÷ homes for sale at month-end × 100.

A higher rate means sales are moving faster relative to the available supply. A lower rate means sellers face more supply for each completed sale.

Using the same resale data:

• October 31, 2026: 356 ÷ 1,315 × 100 = 27.1%.

• September 30, 2026: 409 ÷ 1,383 × 100 = 29.6%.

• October 31, 2025: 465 ÷ 910 × 100 = 51.1%.

As of October 31, 2026 the rate fell 2.5 percentage points from September 2026 data and 24.0 percentage points as of October 31, 2025. On a relative basis, that is a decline of 8.5% month over month and 47.0% year over year.

Put simply: this October had about 27 completed sales for every 100 homes in the month-end inventory, compared with about 51 a year ago. This is a comparison of monthly sales and a month-end snapshot - not the share of those exact listed homes that sold.

Another Way to Read It: Months of Supply

Reverse the calculation - inventory divided by monthly closed sales - and you get a simple estimate of months of supply:

• October 2026: 1,315 ÷ 356 = 3.69 months.

• September 2026: 1,383 ÷ 409 = 3.38 months.

• October 2025: 910 ÷ 465 = 1.96 months.

This estimate in "months" indicates how long the available supply would last if sales continued at that month’s pace and no new listings arrived. It is not a forecast or the expected selling time for one house.

Here is the key finding: inventory fell, but the market still slowed. Sales dropped 13.0% from September, while inventory dropped only 4.9%. With fewer sales relative to supply, sellers faced a tougher market even though the number of listings declined.

Is Snohomish County a Buyer’s or Seller’s Market in November 2026?

It's certainly more favorable to buyers than it was a year ago, but the answer still depends on the home and neighborhood.

Investopedia’s absorption-rate guide uses rates above 20% as a general seller-market sign and below 15% as a buyer-market sign. These percentages correspond to months of supply metrics, where below 5 to 6 months of inventory favors sellers, and above 6 to 7 months favors buyers. These are broad rules, not firm local boundaries.

Our 27.1% rate clears that seller-market guideline. Yet longer selling times, lower prices, and a wider gap from original asking prices show that sellers have lost leverage. If you live in Snohomish County, or beyond, it doesn't feel like a sellers market. The data is indeed trending toward a buyers market, by the traditional absorption rate thresholds. When comparing our local housing market over the last few years, it feels very much as if buyers are in control. Some of this is recency bias, but also accurate depending on the area. There are always pockets of housing markets that will be strong when the overall market feels weak (from a sellers perspective), and vice versa.

My local assessment, which hasn't really changed over the last several months is that Snohomish County is a slowing, more negotiable market, with pockets that still favor well-priced sellers.

A home in Mill Creek, Bothell, Everett, Edmonds, Lynnwood, Lake Stevens, Marysville, Mukilteo, Snohomish, or Monroe may face very different competition. Even nearby streets can differ because of traffic, condition, lot size, layout, privacy, and available alternatives.

What Is Driving the Snohomish County Housing Market?

Mortgage Rates Remain a Major Affordability Hurdle

Freddie Mac’s October 29 report put the average 30-year fixed mortgage rate at 7.24%, compared with 6.17% a year earlier.

That helps explain why a slightly lower home price may not feel like much relief.

For a simple example, assume a $780,000 purchase, 20% down, and a $624,000 loan over 30 years:

• At 6.17%: About $3,810 per month in principal and interest.

• At 7.24%: About $4,253 per month in principal and interest.

• Difference: About $443 more per month for the same loan.

These are illustrations, not loan quotes. Taxes, insurance, HOA dues, fees, and any mortgage insurance are excluded. Actual rates depend on the borrower, lender, loan, and points.

Inflation, War, and Trade Policy Still Matter

The Bureau of Labor Statistics reported that consumer prices rose 3.7% over the year through September, with a 0.6% monthly increase after seasonal adjustment.

This matters because inflation can keep pressure on borrowing costs. Mortgage rates respond to longer-term bond markets and inflation expectations; they do not simply follow the Federal Reserve’s policy rate.

Reuters reported in October that the war-related oil shock had helped push Treasury yields higher. For local households, higher energy costs can squeeze both the monthly budget and the amount left for housing.

Trade policy is not moving in just one direction. NAHB reported on October 16 that the U.S. had announced lower duties on Canadian lumber, while a separate tariff remained.

Changes in tariffs, taxes, spending, and building rules can affect housing costs and confidence. But a political announcement does not automatically change your home’s value. The practical questions are whether it changes mortgage payments, wages/jobs, building costs, or the number of buyers.

Local Jobs Give Us a More Useful Picture Than National Headlines Alone

The latest Snohomish, King, and Skagit county job figures available by October 31 were for September 2026, according to Washington’s Employment Security Department:

• Snohomish County: Unemployment was 4.9%, up from 4.7% in August but unchanged from September 2025. County employers reported 800 fewer payroll jobs than in August. Source

• King County: Unemployment was 4.8%, up from 4.7% in August and unchanged from a year earlier. Payroll jobs fell by 4,300 from August. Source

• Skagit County: Unemployment was 3.7%, down from 4.7% in August and 4.0% a year earlier. Payroll jobs fell by 200 from August. Source

These local unemployment rates are not seasonally adjusted. Payroll jobs and unemployment also come from different measures, so they can move in different directions.

For Snohomish County, aerospace employment - including Boeing-related activity - and King County’s tech economy remain important to watch. Skagit’s job market matters to households weighing a move north.

My takeaway: the figures do not establish a broad local jobs collapse. Still, softer hiring can make buyers more cautious. A job-market rebound could help demand, while sustained losses would add pressure.

Jobs Are One Piece Of The Puzzle, But Pay Needs To Be Considered As Well.

Wage trends were mixed in September. Average hourly wages for private-sector jobs reached $44.78 in Snohomish County, up 1.9% from August. In King County, the average was $50.24, down 0.1%, while Skagit County averaged $34.89, down 1.6%.

These BLS figures use the Everett, Seattle–Bellevue–Kent, and Mount Vernon–Anacortes reporting areas, respectively. September was the latest month available as of October 31.

Higher earnings can help buyers save and afford a home, but the uneven results suggest that support varies across our region. These averages are not adjusted for seasonal changes or inflation, and shifts in the types of jobs can move the numbers, so they don't mean every worker received a raise or pay cut. Sources: Snohomish, King, and Skagit.

King and Skagit County Housing Also Affect Local Choices

The broader NWMLS October report showed King County inventory up 32.8% year over year, with its single-family median sale price down 7.2% to $925,000.

To the north, NWMLS’s Skagit report counted 477 active residential listings, versus 382 a year earlier, up 24.9%. But residential pending sales increased from 123 to 131, up 6.5%. That is a useful reminder that neighboring markets do not all move together.

These broader reports do not use this article’s narrow resale filters.

My interpretation: more choice in King County may reduce the need for some buyers to move north. More choice in Skagit may appeal to buyers willing to move farther north.

Neither effect can be measured from these figures alone, but both should be considered this this local Puget Sound housing market and pricing discussion.

New Construction Can Pressure Resale Values Without a Big Price Cut

Nationally, NAHB’s October survey found that 43% of builders cut prices and 65% offered sales incentives. These are national survey results, not Snohomish County builder shares.

For resale sellers, the lesson is simple: buyers compare the payment and overall deal, not just the asking price.

A builder offering closing-cost help or a mortgage-rate buydown may compete strongly with a resale home priced for less. That can put pressure on nearby sellers even if the builder’s advertised price barely changes.

The impact will vary. An established neighborhood, larger yard, better location, or distinctive home can offer benefits a new development does not. Compare actual nearby alternatives and the full terms of any financing offer.

What Could Happen to Snohomish County Home Prices Next?

My current outlook for the next 6 to 12 months is continued uneven pricing (based on the area and month), with continued downward pressure in the near term unless affordability or demand improves. This is a judgment based on the data, not a promise or a precise price forecast.

Three paths are worth watching:

• Most likely planning case: Winter brings fewer new listings, but cautious buyers keep negotiating. Spring may bring more activity along with more competing homes. Prices could remain soft or level out, with the best results going to homes priced well for their condition and location.

• Stronger-market case: Lower inflation, easing energy costs, lower mortgage rates, and steady jobs bring buyers back. If demand improves faster than listings grow, prices could stabilize or rise in some areas.

• Softer-market case: Rates stay elevated, local employment weakens, or listings build faster than sales. Sellers may face longer waits, more credits, and further price cuts.

National forecasts should not be treated as a local promise. Fannie Mae’s October forecast projected national home-price growth of 2.7% in 2026 and 0.6% in 2027, measured fourth quarter to fourth quarter. It also projected a 7.5% average 30-year mortgage rate in 2027. Remember, forecasts can and often do change, especially when so many variables are at play such as with the housing market.

Three Local Signals I Would Watch Closely

• Sales compared with supply: Is absorption improving, or are listings still outpacing buyers?

• New pending sales and showing activity: Are more buyers making decisions before those sales appear in the closing data?

• Price cuts and credits in your price range: Are nearby sellers holding their prices, or changing terms to get an offer?

The most revealing contrast this month is new listings up only 2.8% from last year, inventory up 44.5%, and closings down 23.4%. That points to slower turnover as a major part of the buildup. It is more than a story about a flood of new sellers.

Sellers - What the November 2026 Market Means for Snohomish County

If you expect to sell within the next year, now is a good time to get a home-specific plan, even if you're not ready to list.

• Price for today’s choices. Compare your home with active listings, recent pending sales, and nearby builder offers.

• Review homes that failed to sell. Expired listings and price cuts can show where buyers are saying no.

• Fix the issues buyers notice first. Cleanliness, repairs, photos, and easy showing access matter when buyers can move on to another option.

• Set a review date before listing. Decide how you will respond if showings or offers fall short.

• Compare selling now with waiting. Include holding costs, possible repairs, expected proceeds, and the cost of your next home.

Waiting until spring may bring more buyers. It may also bring more sellers.

If a move already makes sense for your life, October’s numbers give you a reason to start planning now. They do not prove you must rush or that prices will fall everywhere.

Buyers - What the November 2026 Market Means for Snohomish County

Buyers have more room to compare homes, but monthly payments remain a challenge.

• Shop by total payment. Include taxes, insurance, HOA dues, and upkeep.

• Compare a price cut with seller-paid costs. Ask your lender how each option affects your cash needs and payment.

• Read builder incentive terms. Check the rate after any temporary buydown ends, required lender, fees, and qualification rules.

• Use the time to investigate. Review inspections, condition, commute, noise, and nearby development.

• Buy within a budget you can keep. A future refinance is possible, but it is not guaranteed.

A softer market can create a good opening for a prepared buyer. It does not make every listing a bargain.

What Is My Snohomish County Home Worth in Today’s Market?

The county average cannot answer that. Your home may perform better or worse than the headline figures.

A useful assessment looks at:

• Recent sales of truly similar homes.

• Active and pending competition.

• Local selling times, price reductions, and buyer activity.

• Condition, upgrades, layout, lot, privacy, and street location.

• Nearby new construction and current incentives.

• Your likely selling costs and timing.

If you're wondering what you're home may be worth, and/or a selling strategy and market timing, I can pull detailed housing data for your city, community, neighborhood, and home type. This will help you understand what it means for your next move rather than just relying on online housing value estimates (which are not precise as they are backward looking and don't know all the attributes and nuances of your home - inside and out).

Request your free, no-obligation home value and market assessment. Whether you plan to sell soon or are simply curious, I’m happy to help. Never any pressure or obligation.

Listen to the podcast for this article below. It can also be found by searching "Real Estate Unlocked - AI Blog Article Discussion" on Spotify and Apple Podcasts. * Please note that the podcast is AI generated based on this blog article.

Data and outlook note: Main resale statistics were supplied from Joe Frank’s NWMLS and ShowingTime reports for the periods shown. Percentage changes use the earlier period as the base and are rounded; percentage-point changes are identified separately. Absorption calculations treat the supplied sales as monthly totals with the same property filters as inventory. Countywide averages do not track the same homes over time and are not appraisals. Outside reports use their own definitions. October housing reports released in early November are included; mortgage and economic context is anchored to information available by October 31. Forecasts and interpretations may change. This article provides general information, not individualized financial, tax, or legal advice.

References and Additional Reading

• Joe Frank: Local Housing and Economic Data — Local charts and market data.

• NWMLS: October 2026 Market Snapshot — Broader county and regional housing figures.

• NWMLS: October 2026 Skagit County Report — Residential listings and pending sales.

• Freddie Mac: Weekly Mortgage Rate Archive — Includes October 29, 2026.

• BLS: September 2026 Consumer Price Index — Inflation report released October 14.

• Washington ESD: Snohomish County Profile — Local jobs and unemployment.

• Washington ESD: King County Profile — Regional employment.

• Washington ESD: Skagit County Profile — Employment to the north.

• NAHB: Builder Sentiment Falls on Rising Rates — October builder survey and incentives.

• NAHB: U.S. Cuts Duties on Canadian Lumber — October trade-policy update.

• Reuters: U.S. Yield Surge Adds to Bond-Market Pressure — Oil, bond yields, and mortgage-market pressure.

• Fannie Mae: October 2026 Housing Forecast — National forecasts and assumptions.

• Investopedia: Understanding Absorption Rate — Background on the measure and general guidelines.

For the latest local housing data from Snohomish, Skagit, and King Counties, as well as other key real estate and economic data, visit JoeFrankRealtor.com/data, or contact me at JoeFrankRealtor.com/contact.