Inventory Surge Brings New Opportunity for Buyers in the NWMLS

According to new data from the Northwest Multiple Listing Service, active listings across the region surpassed 18,000 in May — the highest volume since September 2018. While home sales declined 3.3% from the previous month, this rise in inventory marks a meaningful shift in market conditions.

“Listings increased by nearly six-and-a-half times the growth in the number of sales,” said Stephen Bourassa, director of the Washington Center for Real Estate Research.

Despite high prices (median: $654,995) and stubbornly elevated mortgage rates (hovering around 7%), more inventory is giving buyers something we haven’t seen in years: choice.

📍 King County saw a 57.7% year-over-year increase in listings, bringing the county's inventory to 2.8 months — up from just 1.6 months in May 2024.

📍 Snohomish County wasn't far behind, with a 64.1% jump in active listings.

While the market is still price-sensitive, this trend could provide a window of opportunity for buyers who’ve been waiting on the sidelines — or for sellers who want to get ahead of potential price stabilization.

“Only time will tell if buyers will accept a new normal,” NWMLS said.

Ready to make a move in today’s shifting market? Let’s connect and talk strategy.