Shoreline Real Estate: What 2026 Says About the High End in 98177

📍 Edmonds, Shoreline, Mukilteo & South Snohomish County, WA|Market Update|🏠 October 2026

If you own a home in Richmond Beach or Innis Arden, you’ve probably heard that the housing market has cooled. In part of the market, that’s true. Across Shoreline’s 98177 ZIP code, fewer homes sold in the first nine months of 2026 than a year earlier, and far fewer sold above asking price. But Shoreline real estate at the top of the market tells a different story. Homes priced at $2 million and up sold more often this year, and faster. Here’s what the numbers show, why the high end is behaving differently, and what it means if you’re thinking about selling or buying.

The 98177 Market at a Glance

This comparison covers residential sales in Shoreline’s 98177 ZIP code from January through September of each year.

Days on market and sold-above-list figures are based on listed sales only.

What Changed: Fewer Bidding Wars

The clearest shift is in how homes sell, not whether they sell. In 2025, 58% of listed homes in 98177 sold above their list price. In 2026, that dropped to 35%. On average, homes sold for 100.9% of list price this year, down from 103.5% last year.

That points to buyers who are more selective and less willing to compete. Total sales were down about 14%, and the median sale price eased about 4%, from $1,277,500 to $1,220,500.

Values per square foot tell a steadier story. The median sale price per square foot was about $542 in 2026, nearly unchanged from about $545 in 2025. That suggests the dip in the median price reflects the mix of homes that sold this year as much as any drop in what homes are worth. A home with a strong view, a good lot and updated finishes is holding its value.

Well-presented homes are also still moving quickly. The median listed home sold in 7 days this year, compared with 6 last year. In practical terms, the right home at the right price still sells in about a week.

The High End Is Moving Faster

Above $2 million, the trend runs the other way. Seventeen homes sold at $2 million or more in 98177 through September, up from 13 a year earlier. The median price for those sales rose slightly, from $2,445,000 to $2,500,000.

Why the difference? Buyers at the top of the market often rely less on financing, so mortgage rates affect them less. Homes with views of Puget Sound and the Olympic Mountains, large lots and strong locations are also in limited supply in 98177. When one comes up that checks the boxes, competition is still real.

What High-End Buyers Are Paying For

The 17 sales at $2 million and up in 2026 show a clear pattern. High-end buyers in 98177 are paying for land and setting more than for square footage.

• Larger lots — the median lot for a $2 million-plus sale was about 20,000 square feet, more than double the roughly 7,800 square feet for homes that sold for less. Eleven of the 17 sat on lots of 15,000 square feet or more.
• Setting over size — the median $2 million-plus home had about 3,300 square feet, compared with about 2,200 for the rest of the market. But buyers paid a median of about $862 per square foot at the top, versus about $529 below $2 million.
• Mid-century homes on great sites — 10 of the 17 homes were built before 1970. Several mid-century homes of roughly 2,100 to 2,700 square feet sold for $2 million or more, a sign of how highly buyers value the lot and location.
• Newer construction at a different price point — four of the 17 were built in 2000 or later, including two recently built homes on standard-size lots that sold for about $2.05 million and $2.35 million. Those sold at a lower price per square foot, around $460 to $550.

For sellers, the takeaway is that a home’s lot, setting and views can matter as much as its finishes. For buyers, it explains why two homes of similar size in 98177 can sell nearly a million dollars apart. In 2026, one home of about 2,080 square feet sold for just over $2 million, while another of about 2,030 square feet sold for $1.05 million.

What Sets Richmond Beach and Innis Arden Apart

Much of 98177’s value comes from setting. The area sits along Puget Sound, with views across the water to the Olympic Mountains from many homes. Richmond Beach Saltwater Park anchors the shoreline, and the area is a short drive from both downtown Edmonds and north Seattle.

Innis Arden is known for its view homes and community-owned open spaces. Across 98177, the housing mix ranges from mid-century homes on generous lots to newer and fully rebuilt homes. That range is why prices vary so widely. In 2026, sales ran from about $420,000 to $5.2 million, and view, lot size and condition explain much of the spread.

In the latest NWMLS report, there were 14 active listings in 98177 in Shoreline, five of them priced above $2 million.

Market figures come from NWMLS residential data for ZIP code 98177 within the City of Shoreline.

What This Means for Buyers and Sellers in 98177

If You’re Selling

• Price to today’s buyer — with fewer bidding wars, pricing high and hoping for competition is riskier than it was a year ago.
• Make the first week count — with a median of about seven days on market, most of the interest comes right after a home lists.
• Showcase the setting — views, outdoor space and the lot itself are what set high-end 98177 homes apart. Photography, video and staging should lead with them.

If You’re Buying

• Expect fewer bidding wars below $2 million — there’s more room to negotiate on price, repairs and terms than last year.
• Be ready at the top — above $2 million, the best homes are still selling in about a week, so have financing or proof of funds in place before you tour.
• Know the micro-markets — view, lot and street can mean hundreds of thousands of dollars in value. Local guidance matters.

Frequently Asked Questions

Source: NWMLS, City of Shoreline ZIP 98177 residential sales, January–September 2026 vs. January–September 2025, including unlisted sales. Days on market and sale-to-list figures use listed sales only.