Snohomish County, WA Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Are home prices dropping in Snohomish County? ›

Median Sold Price

Homes in Snohomish County have sold for 1.4% more than they did a year ago. Summary: The median home sold price in Snohomish County was $709,260 in May 2024, up 1.4% from last year, and the median price per square foot was $394.

Snohomish County, WA housing market

In May 2024, the median listing home price in Snohomish County, WA was $820K, trending up 5.8% year-over-year. The median listing home price per square foot was $421. The median home sold price was $725K.

In 2022, the median household income of the 308k households in Snohomish County, WA grew to $104,083 from the previous year's value of $95,618.

Poverty Rates

Over 161,000 Snohomish County residents (21%) are living below 200% of the federal poverty level, which is an annual income of $24,980 for an individual3.

Despite occasional fluctuations, overall home prices in Washington have shown resilience and have maintained an upward trajectory. While certain areas may experience temporary declines or slower growth rates, a significant and sustained drop in home prices statewide is not currently observed.

Compared to a year earlier, nearly all 50 states plus the District of Columbia reported price increases, with the exception of Mississippi, where prices dropped by 1.02 percent between March 2023 and March 2024. "We're seeing home prices soften in the West and South.

Snohomish is ranked 29 out of 273 cities across the US in terms of cost of living. The cost of living in Snohomish is 120.1% of the national average.

How did housing in Washington become so expensive? Many factors contribute to housing costs, including increasing demand from a growing population, supply that is constrained by local zoning and tight urban growth boundaries, and permitting costs.

As of 2022 (the most recent Census data), the average median household income in the U.S. was $73,914, meaning the national range for the middle class is roughly $49,271 to $147,828. Across the nation's largest cities, the range is between $51,558 and $154,590, according to SmartAsset.

What family income is considered upper middle class? ›

Many have graduate degrees with educational attainment serving as the main distinguishing feature of this class. Household incomes commonly exceed $100,000, with some smaller one-income earners household having incomes in the high 5-figure range. "The upper middle class has grown...and its composition has changed.

You must have an annual household income at or below 80 percent of the area median income (AMI). You receive waiting list preference with income at or below 30 percent of AMI.

The median single-family home value for properties over the last 12 months is $606,025. Currently, the State of Washington has 271 properties in foreclosure and 7 REOs (real estate bank owned).

Median property prices over the last year range from $955,000 for houses to $460,000 for units.

Seattle, WA housing market

The median listing home price in Seattle, WA was $800K in May 2024, trending down -5.9% year-over-year. The median listing home price per square foot was $588. The median home sold price was $695K.

Results. The median new home sales price is $635,131 and the average new home built is 2,450 square feet. This translates into a rate of $259 per square foot.