MARKET WATCH
1. Residential Active Listings (YoY)
Inventory continues to build compared to last year, giving buyers more options and creating a more balanced market.
2,310 (July 2026) vs 1,731 (July 2025)
+33.4% YoY change
2. New Listings (YoY)
More sellers are entering the market compared to this time last year, adding to available inventory.
1,303 (July 2026) vs 1,106 (July 2025)
+17.8% YoY change
3. Months of Inventory (YoY)
Months of inventory shows how long it would take to sell all active listings at the current sales pace.
2.9 (July 2026) vs 2.2 (July 2025)
+0.7 YoY change
A balanced market is typically 4–6 months of inventory.
4. Median Sale Price (YoY)
Median sale price has softened slightly compared to last year, reflecting higher rates and increased inventory.
$757,250 (July 2026) vs $805,000 (July 2025)
-5.9% YoY change
5. Mortgage Rates (YoY)
Higher mortgage rates continue to impact affordability and buyer demand.
6.65% (July 2026) vs 6.82% (July 2025)
| Monthly Payment on Median Price Home ($710,000 with 20% down) |
$3,889 July 2026 |
$4,104 July 2025 |
+$215 more per month |
6. Notable Commercial Transactions
Ivar's Mukilteo
- Sale price: $10,000,000
- Price per SF: $1,038
- Address: 710 Front St, Mukilteo, WA 98275
- Purchased by the City of Everett
7. Legal & Government Watch
Everett Stadium Update
- City of Everett continues purchase of property for Aquasox stadium
- 11 of 17 properties purchased
- Total acquisition costs currently at $17.3 million
We monitor the issues that impact property values, development and investment.
8. Opportunity Index
IMPROVING
|
STABLE
|
CHALLENGING
|
9. Scott's Perspective
Market thoughts.
Price compression and inventory increases are driving the market. Inventory is up to 2,310 from 1,731 last year — a notable 33% increase.
Why it matters.
Until further notice, listing inventory will dictate our stance on the residential market. If that number continues to increase, further price compression seems inevitable. If rates go down and/or inventory decreases, the market could shift, but otherwise, we expect more of the same.
What we are watching.
The commercial market typically performs separately from the residential market, but we're seeing more listings in Snohomish Commercial as well. The same principles will apply in Commercial — inventory will steer the ship.
|
Scott Weitz President | Broker Weitz Commercial 425.275.9562 scott@weitzcommercial.com |
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Weitz Commercial is a full-service commercial real estate firm focused on helping clients navigate opportunities and solve problems.
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