A Changing Condo Market in Southwest Snohomish

For many longtime homeowners, downsizing isn't a decision that arrives all at once. It's usually a conversation that begins quietly and then resurfaces every few years. The kids have moved out. The extra bedroom rarely gets used. Maintaining the house takes a little more effort than it used to. Yet the timing never feels quite right, so the conversation gets pushed aside and life continues.

What often gets overlooked is how much the market itself changes while homeowners are having that conversation. Someone who casually considered downsizing five years ago would have encountered a completely different condo market than the one that exists today. Looking at Southwest Snohomish County housing data, the change becomes surprisingly clear.

Active Condo Listings

The first thing that stands out is inventory. In September 2021, buyers had approximately 23 active condo listings to choose from. By September 2026, that number had increased to 176 listings.

The significance of that change isn't the number itself. The significance is what the number represents. Five years ago, buyers were searching in a relatively small pool of available properties. Today's buyer is shopping in a market with hundreds of additional options spread across different communities, price ranges, building styles, floor plans, and amenity packages. Whether someone is looking for a top-floor unit, an elevator building, a walkable location, or a water view, the search begins with far more available inventory than it did in 2021.

Inventory tells us how many choices exist. The next question is how quickly those choices disappear.

Condo Cumulative Days on Market

In September 2021, condos averaged approximately 10 cumulative days on market. By September 2026, that figure had increased to 32 days.

Anyone who remembers the housing market of 2021 remembers how quickly decisions had to be made. Listings often came and went before buyers had time to fully evaluate alternatives. The current market is operating at a noticeably different pace. A condo that remains on the market for 32 days simply creates a different shopping environment than one averaging 10 days. The data cannot tell us whether buyers feel more comfortable or more confident. What it does tell us is that the market is moving much slower than it was five years ago.

That same shift shows up when looking at sale-to-list-price ratios.

Condo Sale-to-List Ratio

In September 2021, the average condo sold for approximately 103% of asking price. By September 2026, the average sale was occurring at approximately 99% of asking price.

By itself, that statistic may not seem particularly dramatic. Combined with the inventory and market-time data, however, it becomes easier to see the broader pattern. The intense competition that characterized much of the 2021 market is less evident in today's numbers. Buyers are no longer, on average, paying above asking price to the same extent they were five years ago.

Take Away

Five years ago, downsizers faced a market defined by limited inventory, rapid sales, and frequent over-asking-price transactions. Today's data describes a different environment. Whether that changes anyone's plans is a personal decision, but it does provide a more current picture of the market than many homeowners may be carrying with them.

-Kia Soltani

Data Note: Market statistics referenced in this article are based on Southwest Snohomish County (Area 730) condominium market data from Facts & Trends/TrendGraphix and compare conditions in September 2021 with September 2026. Results may differ for individual properties, buildings, neighborhoods, and price ranges.

kia.soltani@windermere.com

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