Buying a Home in Edmonds This Winter: What More Inventory Means for You

📍 Edmonds, Shoreline, Mukilteo & South Snohomish County, WA|Buyer’s Guide|🏠 November 2026

If you’ve been thinking about buying a home in Edmonds but held off while the market sorted itself out, this winter looks different from the last several. At the end of October 2026, buyers in Edmonds and Woodway had 163 homes to choose from, up 57% from 104 a year earlier, according to NWMLS. Prices have eased, homes are taking longer to sell, and mortgage rates have pulled back slightly from their October peak. The honest picture is more favorable for buyers than it has been in years, with one caution: buyer activity is starting to pick back up. Here’s what the latest numbers show, where you have room to negotiate, and how to make the most of this window.

More Homes to Choose From Than in Years

The shift started at the regional level. NWMLS reported that September 2026 had more homes on the market than any September since 2014, and Snohomish County’s active listings were up 44.2% from a year earlier, one of the largest increases among the 27 counties it covers.

Locally, the change is even sharper. In the two ZIP codes that cover Edmonds and Woodway, 98020 and 98026 (NWMLS figures for these ZIP codes include Woodway), active listings climbed to 163 at the end of October, compared with 104 in October 2025. New listings rose to 73 from 61.

Months of supply tells the same story. That figure estimates how long the current inventory would last at the current pace of sales, and it has roughly doubled in a year: from 1.5 to 2.7 months in 98020, and from 2.2 to 3.9 months in 98026. Many economists consider four to six months a balanced market, so Edmonds isn’t a buyer’s market across the board yet. But it’s much closer to balanced than it has been, and that changes how a purchase plays out. You can tour several homes, compare them side by side, and take the time to do a thorough inspection without feeling that the home will be gone by the weekend.

What the October Numbers Show

Here’s how residential sales (houses and townhomes) in each ZIP code compared with a year earlier:

Source: NWMLS InfoSparks, residential, 98020 and 98026, October 2026 vs. October 2025.

Two things stand out. Inventory is up sharply in both ZIP codes, and the two areas are behaving differently. Homes in 98020, which includes the Bowl, the downtown waterfront and much of Woodway, are still selling quickly and at their asking price. In 98026, homes are taking longer and selling for less than their original list price more often.

Prices Have Softened, Not Collapsed

The median sale price in 98020 was $1,170,000 in October, down 6.3% from a year earlier. In 98026 it was $860,000, down 3.4%. Price per square foot fell more: 7.2% in 98020 and 10.6% in 98026.

A note of caution on those numbers: monthly medians in individual ZIP codes can swing based on which homes happened to close that month. With 13 closed sales in 98020 in October, one or two large waterfront sales could move the median noticeably. Read them as a direction rather than a precise discount. The direction is clear, though. After several years in which buyers routinely paid at or above list price, prices have leveled off and eased in places.

The more useful number for a buyer may be the sale price compared with the original list price. In 98026, homes sold for an average of 96.6% of their original asking price in October. On a $1,000,000 home, that’s roughly $34,000 below the first asking price, often after a reduction. In 98020, well-priced homes are still selling at 100% of list. Your leverage depends a great deal on the specific home, the neighborhood and how long it has been on the market.

Mortgage Rates Have Eased Slightly

Rates remain the biggest factor in affordability. According to Freddie Mac, the average 30-year fixed rate was 7.24% as of October 29, 2026, down from 7.32% the week before and the lowest reading of the month. That followed a climb to 7.40% in mid-October, the highest level since November 2023. A year ago, the same rate averaged 6.17%.

Waiting for a large drop is a gamble forecasters aren’t currently making. In its October housing forecast, Fannie Mae projected that 30-year rates will average 7.5% in every quarter of 2027, up from the 6.7% it forecast just a month earlier. Forecasts change, and rates could come down sooner than expected. But building a plan around today’s rates, and refinancing later if rates fall, is more realistic than waiting for a number that may not arrive.

Many buyers in Edmonds and Woodway borrow above the conforming loan limit, and jumbo loan pricing can differ from the national averages. It’s worth comparing quotes from more than one lender, and asking whether a seller-paid buydown on the home you’re considering would lower your payment more than a price reduction would.

The $2 Million-Plus Market Moves on Its Own Terms

The high end of the market has fewer sales, so one month on its own can be misleading. Looking at August through October 2026, there were nine closed sales of $2 million or more in 98020, compared with eight in the same period last year. The median price for those sales was $2,600,000, up 14.7%, and the median time on market dropped to 14 days from 26. Those homes sold for 96.8% of list price on average.

In 98026, there were only four sales over $2 million in that period, too few to draw meaningful conclusions. Inventory at that price point has grown in both ZIP codes, though, averaging 11 active listings in 98020 and 16 in 98026 over those three months, both well above a year ago.

What this means: buyers at the top of the market have more homes to look at than they did a year ago, and there’s often a few percentage points of room on price. But the best view and waterfront homes, which are limited in supply in any market, are still selling quickly. If you’re shopping at this level, being prepared matters as much as negotiating.

Why This Window May Not Stay This Wide

One number in the October report deserves attention. Closed sales in 98020 and 98026 combined fell 34% from a year earlier, to 40 from 61. But pending sales, which count homes that went under contract in October, rose 17%, to 54 from 46. Pending sales in 98026 alone were up 31%.

Closed sales mostly reflect contracts written in August and September, when rates were climbing. Pending sales show what buyers did in October, as rates began to ease. The increase suggests more buyers are returning to the market. Combine that with the usual seasonal pattern, in which fewer new listings come on during the holidays and both buyers and sellers return in force in spring, and today’s combination of high inventory and less competition may not last into 2027.

What This Means for Buyers in Edmonds and Woodway

If you’re planning to buy in the next several months, these steps will help you take advantage of current conditions:

• Get fully pre-approved — including jumbo financing if you need it. A complete pre-approval puts you in a stronger position on homes that are still drawing quick offers.
• Look closely at days on market and price history — a home that has been listed for a month or more, or has already been reduced, usually has the most room to negotiate.
• Negotiate on more than price — closing cost credits, a rate buydown, repairs or a flexible closing date can be worth as much as a lower price, and sellers are more open to them than they were a year ago.
• Keep your inspection contingency — with more homes available, there’s rarely a reason to waive it. Use the inspection to understand the home fully before you commit.
• Be ready to act on the right home — the best-priced homes in 98020 are still selling in about a week. Know your numbers before you tour.
• Compare across the area — if Edmonds inventory doesn’t have what you want, Shoreline’s Richmond Beach and Innis Arden neighborhoods and Mukilteo offer view and waterfront homes too.

Frequently Asked Questions

Source: NWMLS, Edmonds & Woodway (98020/98026), October 2026 vs. October 2025