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Tag: Everett Real Estate 2026

  • For South Everett Business Owners and Commercial Tenants: What the Hub @ Everett Self-Storage and Office Pivot Means For Your Block

    For South Everett Business Owners and Commercial Tenants: What the Hub @ Everett Self-Storage and Office Pivot Means For Your Block

    If you own or operate a business near the old Everett Mall — restaurant, retail, service, professional — Brixton Capital’s May 19, 2026 pre-application meeting with the City of Everett is a meaningful change to your demand picture. The Topgolf-anchored entertainment program was going to bring evening and weekend foot traffic. The new pre-application program — self-storage plus a 60,000-square-foot proposed office where Topgolf was going to be built — produces a different customer pattern. This is the business owner’s read.

    What the new program does to your foot traffic forecast

    Three structural shifts to model:

    • Evening and weekend traffic — significantly lower than the Topgolf base case. Self-storage produces customer visits during typical loading hours and on weekends, but volume per visit is low. Office produces almost no evening or weekend activity. Restaurants and entertainment-adjacent retail in the surrounding blocks should rebase forecasts that assumed Topgolf overflow.
    • Weekday daytime traffic — depends on the office tenant. A 60,000 sq ft office can host 200-400 employees depending on density. That’s a meaningful weekday lunch and coffee market, but only if the office actually leases. Office vacancy in suburban Snohomish County has been challenging since the post-2020 hybrid-work pattern stabilized.
    • Aggregate property foot traffic — lower than the original Hub vision. The Topgolf-Chicken N Pickle anchor pair was projected to be a regional destination drawing customers from across the Snohomish County market. The self-storage and office program is a local-services and tenant-services use mix. Regional draw drops materially.

    What that means for specific business categories

    Restaurants and bars within walking distance. Rebase any growth forecast tied to evening Topgolf overflow. The compensating opportunity is weekday lunch from any future office tenant — but that requires the office to actually lease, which is a 12-24 month wait at minimum.

    Retail in the half-open mall corridors. The existing partial-tenant program continues to operate. The pre-application is for the larger program shape, not an immediate displacement. But the Topgolf-anchored regional-draw narrative that some tenants signed against has changed.

    Professional services in surrounding office buildings. A new 60,000 sq ft office at the Hub site is a competitor for the next round of office leasing in the South Everett submarket. Watch the lease activity over the next 18 months.

    Auto services and self-storage operators in the surrounding area. A new self-storage facility at the Hub site is direct competition for existing operators in the corridor. Capacity additions of this size are uncommon in suburban submarkets and tend to compress pricing for existing operators in the 12-24 months after delivery.

    What this signals about Brixton’s read of the South Everett market

    Property owners pivot away from entertainment anchors when the entertainment math stops working. Three readings are consistent with the Brixton pre-application:

    • Topgolf’s portfolio review under new ownership produced a no. Topgolf’s CEO transition in 2025 and the Leonard Green & Partners 60% acquisition closing on January 1, 2026 are the kind of corporate events that trigger location pipeline reviews. The Everett pre-application is consistent with Everett moving out of the near-term build pipeline.
    • The construction cost math on a venue this size has gotten harder. Build costs across the Pacific Northwest remain elevated. Entertainment venues are particularly sensitive to construction cost inflation because the revenue model is based on price points that don’t easily move.
    • The owner sees a more reliable cash-flow program in self-storage and office than in waiting for the entertainment anchor. Self-storage is one of the most reliable suburban-property cash-flow uses. A property owner with capital constraints and a half-open building can rationally choose lower upside and higher reliability.

    Practical next steps for business owners

    • Update your forecast. Any growth assumption tied to Topgolf opening at the Hub @ Everett needs to be rebased.
    • Watch for the formal land use application. Pre-applications typically convert to formal applications within months when the project is moving forward. The formal application is when the timeline gets clearer.
    • Talk to your landlord. If your current lease was priced or structured around an assumed Topgolf opening, that assumption is now in question. Worth a conversation.
    • Watch the office leasing activity. A 60,000 sq ft new office building in South Everett is a meaningful supply addition and a meaningful competitor for the local lunch and coffee market — if it leases.

    Frequently asked questions for business owners

    Is Topgolf coming or not?

    Not officially cancelled, but the May 19, 2026 Brixton pre-application shows a different program in the Topgolf footprint. For business forecasting purposes, treat Topgolf as on hold rather than confirmed.

    How big is the proposed office?

    60,000 square feet, sitting in the site plan where the Topgolf venue was going to be built.

    How big is the proposed self-storage?

    The pre-application describes a conversion of “a portion of the building” into self-storage. The exact square footage will be specified in the formal land use application.

    When could construction actually start?

    The pre-application is the very early stage of the city process. A formal land use application would follow, then SEPA review, then permits, then construction. A realistic earliest construction start is late 2026 to 2027 if the program moves forward without significant changes.

    What’s the impact on existing Hub @ Everett tenants?

    The half-open corridors and existing partial-tenancy continue to operate. The pre-application is for the larger building program shape, not an immediate displacement.

    Related Exploring Everett coverage for business owners

  • The Hub @ Everett Just Got a Course Correction: A Complete 2026 Guide to Brixton Capital’s Self-Storage and Office Pivot Where Topgolf Was Going

    The Hub @ Everett Just Got a Course Correction: A Complete 2026 Guide to Brixton Capital’s Self-Storage and Office Pivot Where Topgolf Was Going

    Quick answer: Brixton Capital — the property owner of the former Everett Mall, now branded as The Hub @ Everett — filed a May 19, 2026 pre-application meeting request with the City of Everett for a project that consists of “the interior demolition of the existing enclosed mall structure and the conversion of a portion of the building into a self-storage facility,” with a 60,000-square-foot proposed office shown in the same site plan sitting where the long-promised Topgolf venue was going to be built. The pre-application is not a permit and not a final design, but it is the clearest signal yet that the original Hub @ Everett vision has shifted materially.

    The headline change, in plain language

    The original redevelopment vision for the old Everett Mall, marketed as The Hub @ Everett, called for an entertainment-led mix anchored by Topgolf and Chicken N Pickle, with the existing enclosed mall corridors being repurposed around those big-format draws. The Brixton pre-application now on file with the City of Everett describes a different mix: a self-storage conversion of part of the existing enclosed structure and a 60,000-square-foot office building sitting in the footprint that was being held for Topgolf.

    The change does not officially cancel Topgolf. Brixton has not issued a public statement walking the program back. The pre-application is a planning conversation with the city, not a final entitlement. But site plans submitted to a pre-application meeting do represent the property owner’s working intent at the time of filing, and the working intent has shifted away from the venue that was treated as the anchor for years.

    How we got here

    The Topgolf-at-Everett-Mall story has run on a long timeline. The mayor publicly confirmed Topgolf and Chicken N Pickle were coming to the redevelopment in 2024. Permit applications for the golf facility followed later that year. Topgolf solidified plans in late 2024. The Hub @ Everett rebranded the property and began phased opening of partial tenant spaces during 2025. Twin Creeks — the surrounding neighborhood that took its name from the buried creeks beneath the site — became part of the city’s broader narrative about reactivating South Everett.

    Two corporate developments quietly changed the calculus. Topgolf’s CEO Artie Starrs left for Harley-Davidson in 2025. On January 1, 2026, private equity firm Leonard Green & Partners closed on a 60% stake in Topgolf, acquired from Topgolf Callaway Brands for approximately $1.1 billion. New ownership and a CEO transition tend to trigger a portfolio review of pipeline locations. The Everett pre-application now on file is consistent with a portfolio decision that the Everett site is no longer in Topgolf’s near-term build pipeline — though neither company has confirmed that publicly.

    What the pre-application actually says

    From the city permitting portal, the Brixton Capital May 19, 2026 pre-application meeting is scheduled for a project described as the interior demolition of the existing enclosed mall structure and the conversion of a portion of the building into a self-storage facility. A 60,000-square-foot proposed office sits in the site plan where the Topgolf venue was being permitted. The pre-application format is a planning conversation between the developer and city staff to identify code, environmental, and infrastructure issues before a formal entitlement application is submitted. It does not approve anything; it scopes the conversation.

    What this means for the Hub @ Everett vision

    The Hub @ Everett was always two narratives stacked on top of each other. One was the entertainment-led reactivation — Topgolf, Chicken N Pickle, plus retail and restaurant follow-on. The other was the practical math of the mall building itself: a very large enclosed structure with declining traditional retail demand, sitting on a parcel with strong vehicle access from I-5 and the Everett Mall Way corridor. Self-storage is one of the most reliable uses for an oversized enclosed building when the entertainment math doesn’t work. Office at 60,000 square feet is meaningfully smaller than a Topgolf facility and works in a different revenue model entirely.

    The half-open Hub @ Everett that has been operating in 2026 — partial tenants, public corridors, the mall structure still standing — has been waiting on the entertainment anchor to define the rest of the program. The pre-application is the first signal that the program may now be defined by a different mix entirely.

    What hasn’t changed

    • Mall Station, the rebuilt and relocated transit station at the property, opened on the original schedule and continues to function regardless of the Hub redevelopment program.
    • The Twin Creeks neighborhood — the surrounding mall-adjacent area that renamed itself in 2026 — is unaffected by the program shift.
    • The half-open portions of The Hub @ Everett that have been operating during 2026 remain operating.
    • The pre-application is not a Topgolf cancellation. Either party could still revive the venue plan in a different form or location.

    What to watch next

    • The May 19 pre-application meeting outcome. Pre-application notes from the city often surface in public records and indicate which design and code issues are most material before a formal application is filed.
    • A formal entitlement application. Pre-applications typically lead to a formal land use application within months when the project is moving forward — or sit dormant when the developer is testing options.
    • Any Topgolf or Brixton public statement. Either party walking through their respective sides of this story would clarify what is now off the table and what is still possible.
    • The half-open mall corridors. Whether tenants continue to come into the existing partially-open Hub @ Everett, or whether the structure shifts toward a self-storage and office program, will be visible to anyone driving past the property over the next year.

    Frequently asked questions

    Is Topgolf no longer coming to Everett?

    Neither Brixton Capital nor Topgolf has issued a public cancellation. The May 19, 2026 pre-application Brixton filed with the City of Everett shows a 60,000-square-foot proposed office sitting where Topgolf was going to be built, alongside a self-storage conversion of part of the existing mall structure. That is a strong signal of a program change but not a formal cancellation.

    What is The Hub @ Everett?

    The Hub @ Everett is the rebranded redevelopment of the old Everett Mall by property owner Brixton Capital. Originally marketed as an entertainment-led mixed-use project anchored by Topgolf and Chicken N Pickle, with phased reuse of the existing enclosed mall structure.

    Who is Brixton Capital?

    Brixton Capital is the property owner and developer driving the Hub @ Everett redevelopment. The company is a private real estate investment firm.

    When is the Brixton pre-application meeting with the city?

    May 19, 2026.

    What is a pre-application meeting?

    A pre-application meeting is a planning conversation between a property owner and city staff to identify code, environmental, and infrastructure issues before a formal entitlement application is submitted. It does not approve anything — it scopes the conversation.

    Will Mall Station be affected?

    No. Mall Station, the rebuilt and relocated transit station at the property, opened on the original schedule and continues to function independently of the Hub redevelopment program.

    What does this mean for South Everett?

    The Hub @ Everett was a meaningful part of the South Everett reactivation narrative. A program shift from entertainment-led to self-storage-and-office is a different kind of reactivation — one that delivers some economic activity without the foot traffic that an entertainment anchor would have generated.

    Related Exploring Everett coverage

  • Snohomish County’s April 2026 Housing Market Has a Number Most Reports Miss: Sales Activity Intensity at 54.9%

    Snohomish County’s April 2026 Housing Market Has a Number Most Reports Miss: Sales Activity Intensity at 54.9%

    What’s the headline number from the Madrona Group’s April 2026 Snohomish County housing report? Sales Activity Intensity came in at 54.9%, down only slightly from 56.0% the month before — meaning more than half of all listings still went pending within the first 30 days. Inventory tightened to 1.6 months. Mortgage rates moved up to 6.45%. Single-family resale prices held near $877,000 with homes selling at 99.8% of list price. The market did not slow down the way the inventory headlines suggested.

    You probably read yesterday’s coverage of Snohomish County’s April housing market — the NWMLS data showing inventory up 51.8% year-over-year, the median sale price at $738,000, the 2.8 months of supply. That is one accurate way to read this market. Here is another, also accurate, with very different implications.

    The Madrona Group dropped its April 2026 Snohomish County report this week, and it does not look like a market that lost its footing. It looks like a market that is moving slower at the top of the funnel — fewer homes coming on, fewer offers per listing, more buyer hesitation — but where the deals that do happen are happening fast and at strong prices.

    The number we want to focus on is Sales Activity Intensity — and we are going to explain it because it is not a number that shows up in every market report and most readers have never seen it framed this way.

    What Sales Activity Intensity actually measures

    Sales Activity Intensity is the share of all active listings that go pending within the first 30 days on the market. Not closed — pending. Pending is the moment a buyer’s offer has been accepted and the deal is moving toward closing. It is the moment when the market said yes.

    A 54.9% Sales Activity Intensity in Snohomish County for April 2026 means that more than one out of every two homes that listed last month had a buyer say yes within 30 days. That is a fast market. It is fast even after a small dip from March, when the same number was 56.0%.

    For comparison, a market that is genuinely cooling — homes sitting, sellers cutting prices, buyers waiting — typically shows Sales Activity Intensity drop into the 30s or below. When intensity drops below 30%, sellers start to see real concessions show up at the closing table. That is not what we have right now.

    What’s behind the number

    Three factors are working at once in the April 2026 Madrona Group data, and none of them point in the same direction:

    Mortgage rates moved up to 6.45%. That is up from earlier in the year and up enough to price some buyers out at the margin. Higher rates almost always slow demand. They have slowed it some — but they have not killed it.

    Inventory tightened to 1.6 months. A balanced market in real estate is usually 4 to 6 months of inventory. At 1.6 months, Snohomish County is still well into seller’s-market territory. Note this is the Madrona Group’s specific measurement — the broader NWMLS data on the same county shows 2.8 months because the two reports use slightly different inventory definitions and time windows. Both are true. The Madrona number is the tighter view.

    Single-family resale prices held near $877,000 with homes selling at 99.8% of list price on average. When buyers are paying within 0.2% of the asking price, they are not negotiating much. They are competing.

    Put the three factors together: rates went up, but the homes that are listed are still moving fast and selling at almost full asking. The buyers who are still in the market have stopped flinching.

    What this looks like on the ground in Everett

    Everett sits inside the Snohomish County data but does not behave exactly like the county average. The city’s median sale price runs lower than the county figure — Redfin had Everett’s most recent typical home value near $620,000, well under the $738,000 county median that NWMLS reported. The reasons are familiar: more starter homes, more condos, more older housing stock, more variation between neighborhoods.

    The Sales Activity Intensity dynamic still applies in Everett. A waterfront condo at Sawyer or Carling priced reasonably is going pending in days, not weeks. A starter home in Delta or Riverside priced at the neighborhood median is doing the same thing. What sits is what is overpriced. What sits is what assumes the market is still set to 2022.

    We have seen this pattern in our own coverage — the April 2026 condo market story we published last week showed Snohomish County condo averages up 4.4% year-over-year and Everett condos selling in a 22-day median at 99% of list. That is the same fast-but-narrow market the Madrona report is describing, just on a different property type.

    What this means for buyers right now

    If you are buying in Snohomish County in May 2026 and you have been waiting for the market to break, the Madrona data is the latest signal that a wholesale break is not coming. Specific properties will be soft. Specific sellers will negotiate. But the broad market is still leaning seller.

    A few practical takes from how this number sits:

    • Stop waiting for the price to come down before you make an offer. At 54.9% Sales Activity Intensity, the home you are watching probably already has another offer. The price you saw on Zillow last Tuesday may not be the price that closes.
    • Get rate-locked before you write an offer. With rates at 6.45% and trending up rather than down, the rate you can get this week is probably better than the rate you can get if you wait three weeks. A 0.25% rate move on a $620,000 Everett home is roughly $90 a month for the life of the loan.
    • The 99.8% of list price number is the real number. If you are writing offers at 95% of list and watching them lose, that is why. The market is not built for 95% offers right now.

    What this means for sellers right now

    If you are selling in Snohomish County, the Madrona data is telling you something sellers sometimes miss: price-to-list discipline matters more than ever.

    • Price it right and it goes pending in 30 days. Price it 5% high and it sits — and the market has been trained to read sitting as a problem. The 30-day window is the window where intensity captures your home as a fast mover. Past 30 days, you are competing with newer listings.
    • The 99.8% of list price number cuts both ways. You probably will not get more than asking. You also will not have to take much less than asking. So price it where you are happy to close.
    • Inventory is tight but moving up. The Madrona number says 1.6 months, the NWMLS number says 2.8 months — both are tighter than 4-6, but both are looser than 12 months ago. If you have been on the fence about listing, the supply side is finally giving you some company on the market. Earlier was easier. Now is still good.

    How this fits with everything else we know about Snohomish County in April 2026

    This week alone we have seen:

    • The NWMLS report showing 51.8% year-over-year inventory growth and 2.8 months of supply
    • The Madrona Group report showing 1.6 months supply and 54.9% Sales Activity Intensity
    • Snohomish County condo data showing 4.4% YoY appreciation and 22-day Everett median time on market
    • Mortgage rates moving up to 6.45%, the highest level since fall 2025
    • The Sage Investment Econo Lodge studio-apartment conversion announcement in South Everett — 124 new units coming online by August 2026

    None of those data points contradict each other. They are all measuring different parts of the same market. The market is more inventory than it had, fewer offers than it had, slower at the top of the funnel — and still selling fast and near asking when the property is priced right. That is a more complicated story than “the market is hot” or “the market is cooling.” It is the market being different things at the same time depending on which lens you bring.

    The Madrona Group report adds a useful lens: the velocity at which deals close, not just the count of homes listed. That velocity number is what tells you whether the market still works. In April 2026, in Snohomish County, it still works.

    Frequently Asked Questions

    What is Sales Activity Intensity in real estate?

    Sales Activity Intensity is the percentage of all active listings that go pending — meaning a buyer’s offer has been accepted — within the first 30 days on the market. It is a velocity measure of how fast the average home is moving. Above 50% indicates a fast seller’s market; below 30% indicates real cooling.

    What was Snohomish County’s Sales Activity Intensity in April 2026?

    54.9%, according to the Madrona Group’s April 2026 Snohomish County housing market report. That is down slightly from 56.0% in March. Both numbers indicate a strong seller’s market.

    What are mortgage rates in Snohomish County right now?

    The 30-year fixed rate referenced in the April 2026 Madrona report is 6.45%. Rates have ticked up from earlier in the year. Individual rate quotes vary by lender, credit score, down payment, and loan size.

    Why does the Madrona Group report say 1.6 months of inventory and the NWMLS report say 2.8 months?

    They use slightly different inventory definitions and time windows. The Madrona Group’s measure tends to capture a tighter view focused on actively moving listings. NWMLS uses a broader inventory definition that includes some listings the Madrona view excludes. Both are accurate; both reflect a Snohomish County market still well below the 4-6 month range that defines balance.

    What is the median home price in Snohomish County in April 2026?

    The April 2026 NWMLS report listed the county median sale price at $738,000. The Madrona Group report references single-family resale prices holding near $877,000, which uses a different scope (single-family resale only, with different geographic weighting). The two numbers describe overlapping but not identical slices of the market.

    Is now a good time to buy a home in Everett?

    “Good” depends on your specific situation — your down payment, your job stability, your timeline, the neighborhood you’re targeting. What the April 2026 data says broadly: prices are not falling, inventory is up but still tight, and rates are higher than they were earlier in the year. Waiting for a wholesale price break is currently not what the data supports. Talk to a local agent and a local lender about your specific math.

    Is now a good time to sell a home in Everett?

    Yes, if it is priced right. The market data says homes priced at the neighborhood median are going pending within 30 days at 99.8% of list. Homes priced 5%+ above the neighborhood median sit. Pricing discipline is the difference between a fast sale and a long sit.

  • For Boeing and Paine Field Workers: What Everett’s 51.8% Housing Inventory Jump Means for Your 2026 Buy-or-Rent Decision

    For Boeing and Paine Field Workers: What Everett’s 51.8% Housing Inventory Jump Means for Your 2026 Buy-or-Rent Decision

    For Boeing and Paine Field workers: Snohomish County’s housing inventory jumped 51.8% year-over-year in March 2026. For workers starting, transferring to, or continuing on the Everett 737 North Line or Paine Field campus, this is the best buying and renting window in three years — more options, less frenzy, and two new studio apartment projects opening in south Everett before year-end. Here is how to read the market from where you sit.

    What the 51.8% Inventory Jump Means for Aerospace Workers

    For workers who arrived in Everett in 2022–2024 and watched every rental unit disappear and every home sale go to a cash buyer with no contingencies, the March 2026 data represents a meaningful shift. Snohomish County now has approximately 2.8 months of housing supply — still a seller’s market, but far more navigable than the sub-1.5-month environment that was the norm during peak frenzy.

    What this means practically: you can take an extra day before making an offer. You can write an inspection contingency without automatically losing. You have more than three listings to choose from in any given price bracket. For new hires relocating from outside the Puget Sound area — workers coming in for the 737 MAX 10 North Line ramp, which opens midsummer 2026 with over 1,200 airline orders — this is the entry window. You are not walking into the 2022 market.

    Where Aerospace Workers Are Actually Buying and Renting

    Paine Field sits in south Everett / north Mukilteo, which means the commute catchment for North Line workers spans Silver Lake, Cascade View, south Everett neighborhoods along Highway 99, Mukilteo proper, and the I-5 corridor communities. In order of proximity to the Paine Field gate area:

    Silver Lake (98204): Closest residential zone to Paine Field with Highway 99 access. The former Econo Lodge at 9602 19th Street SE is being converted to 124 studio apartments by Sage Investment Group, with Phase 1 leasing opening August 2026. Market-rate, no income restrictions — the first new dedicated workforce rental product to hit south Everett’s 98204 zip code in several years.

    Cascade View (98204): Stable mid-century neighborhood directly south of Paine Field. Quieter than Casino Road, lower price points than north Mukilteo. Strong for first-time buyers looking in the $550,000–$700,000 range where the inventory increase has been most pronounced.

    Mukilteo: Premium location with waterfront access and ferry connection. Prices run higher (typically $750,000+), but commute to Paine Field is 5–10 minutes. For workers with dual incomes or buying rather than renting, Mukilteo remains competitive relative to comparable Seattle neighborhoods.

    North Mukilteo / Harbour Pointe: New construction and attached housing available. Longer-term upside tied to the Paine Field passenger terminal and the Everett Link Extension SW Everett Industrial Center station.

    Buying vs. Renting in 2026 for North Line Workers

    At 6.38% mortgage rates and a $738,000 county median, a conventional 20%-down purchase requires a $147,600 down payment and produces a principal-and-interest payment of approximately $3,850/month before taxes and insurance. For a single income in the $85,000–$100,000 range typical of experienced 737 North Line assembly workers, that payment is within range but not comfortable without a second income or a lower price point.

    The 51.8% inventory jump creates opportunity in the $500,000–$650,000 range — attached homes, condos, and smaller single-family properties in south Everett and Mukilteo where the supply increase has been sharpest. Workers willing to buy below the county median can find payments more manageable, and the employment-anchor demand from Boeing, NAVSTA, and healthcare employers provides some floor under Snohomish County prices even in a rising-rate environment.

    For workers newer to the North Line or not yet sure about long-term Everett plans, the rental option is cleaner in 2026 than it has been since 2021. The Sage Silver Lake studio project, existing Community Transit-accessible apartments along Casino Road, and the general inventory increase in the rental market all point to a more renter-friendly environment than workers faced during the post-COVID frenzy years.

    The Light Rail Variable

    The Sound Transit board votes June 30 on the revised ST3 System Plan. The SW Everett Industrial Center station — explicitly designed to serve the Paine Field employment cluster — is in the corridor covered even by a truncated extension scenario. For North Line workers buying near Paine Field with a 10-year hold horizon, the light rail calculus is favorable regardless of how the truncation debate resolves. The SW Everett Industrial Center station is not in dispute the way the downtown Everett Station terminus is.

    Frequently Asked Questions for Boeing and Paine Field Workers

    What neighborhoods are closest to Paine Field for Boeing workers in Everett?

    Silver Lake (98204), Cascade View (98204), Mukilteo, and north Mukilteo / Harbour Pointe are the closest residential zones to the Paine Field gate area. Silver Lake and Cascade View offer the most affordable price points. Mukilteo carries a premium for waterfront access and ferry convenience.

    Is the Everett housing market better for Boeing workers in 2026 than 2024?

    Yes. Active inventory is up 51.8% year-over-year with 2.8 months of supply — more options and less bidding-war pressure than 2022–2024. The median is still $738,000 and rates are 6.38%, but the frenzied market that forced workers to waive all contingencies has eased meaningfully.

    Are there any new rental apartments opening near Paine Field in 2026?

    Yes. Sage Investment Group is converting the former Econo Lodge at 9602 19th Street SE in Silver Lake into 124 studio apartments. Phase 1 leasing opens August 2026. Market-rate, no income restrictions, in the south Everett 98204 zip code approximately 15–20 minutes from the Paine Field gate.

    Will there be light rail to Paine Field?

    The Sound Transit Everett Link Extension includes a SW Everett Industrial Center station serving the Paine Field cluster. The June 30, 2026 ST board vote will confirm the timeline. The SW Everett Industrial Center station is less at risk in truncation scenarios than the downtown Everett Station terminus.

    What is a realistic home price for a Boeing worker buying near Paine Field?

    The county median is $738,000 but south Everett and attached housing in the 98204 zip code offers entry points in the $500,000–$650,000 range where the inventory jump has been most pronounced. At 6.38% rates, a $550,000 purchase with 20% down produces P&I of approximately $2,890/month.

    Related: Complete 2026 Housing Market Guide | Boeing North Line Workers Housing Guide | Sage Silver Lake Apartments

  • Snohomish County Housing Inventory Jumped 51.8% in 2026: The Complete Everett Buyer and Seller Guide

    Snohomish County Housing Inventory Jumped 51.8% in 2026: The Complete Everett Buyer and Seller Guide

    Quick Answer: Snohomish County active home listings surged 51.8% year-over-year in March 2026 — one of the five largest inventory increases in the entire NWMLS territory. Despite the supply jump, the median home price held at $738,000 and homes are still selling at 99.9% of asking in an average of 35 days. Rising mortgage rates (6.38% by late March) are stalling buyer momentum without collapsing prices. For Everett buyers and sellers, the window has shifted — but it has not swung fully to buyers yet.

    The March 2026 Numbers: What Changed

    The Northwest Multiple Listing Service’s March 2026 market snapshot showed 1,900 active residential listings across Snohomish County — a 51.8% year-over-year increase and one of the sharpest single-year inventory jumps in recent county history. That works out to approximately 2.8 months of supply, up sharply from the sub-1.5-month lows that defined the pandemic-era seller’s market.

    For context: real estate economists generally describe 4–6 months of supply as a balanced market. At 2.8 months, Snohomish County is still clearly a seller’s market — but the trajectory is meaningful. Buyers who spent 2022–2024 losing bidding wars on every offer now have more listings to choose from, more time to make decisions, and occasionally — not always — some negotiating room on price.

    The median home price held at $738,000 in March 2026. Homes are still selling at 99.9% of asking price in an average of 35 days. Those metrics do not reflect a market in distress — they reflect a market that has paused rather than reversed. The buyers who have stepped back are rate-sensitive; the sellers who remain active are not discounting.

    Why Inventory Jumped — and Why Prices Haven’t

    The inventory increase is being driven by two converging forces. First, sellers who held off listing during 2023–2024 (reluctant to give up historically low mortgage rates on their existing homes) are gradually re-entering the market as life events — job changes, family transitions, retirement — force the decision. Second, new construction deliveries — particularly multifamily and attached-housing units — are adding to active supply in south Everett and the Everett fringe suburbs.

    Prices are not collapsing because demand has not collapsed. Snohomish County’s employment base — Boeing’s expanding 737 North Line, NAVSTA Everett, Providence Regional Medical Center, and a dense cluster of aerospace and logistics employers — creates persistent housing demand from workers who need to live close to their job sites. That employment anchor is Snohomish County’s buffer against the kind of inventory-driven price correction that markets without a major employment base would experience.

    What This Means for Everett Buyers

    More listings mean more options — and for the first time in several years, buyers can take a breath before making an offer. The days of waiving all contingencies on sight-unseen properties are largely over in the current rate environment. Buyers who can qualify at 6.38% and are not competing for the same handful of best-in-class properties in the most desirable neighborhoods will find the market more navigable than it was in 2022.

    The Everett-specific buyer dynamic in 2026 involves several overlapping pools: Boeing 737 North Line workers relocating from Renton, Navy families PCSing to NAVSTA Everett, and Seattle-area renters making the rent-versus-buy calculation for the first time. All three groups are making decisions based on Snohomish County’s relative affordability versus King County — a spread that has narrowed but not closed.

    The motel-to-apartment conversion pipeline in south Everett — including the Sage Investment Econo Lodge project at 9602 19th Street SE opening August 2026 — adds rental supply that may absorb some demand that would otherwise convert to buyer activity. Workers who can rent a studio near their job site for a year while they watch the market are more likely to do so when inventory is rising and rate direction is uncertain.

    What This Means for Everett Sellers

    The 51.8% inventory jump does not mean sellers are in trouble — it means sellers need to price correctly. Properties at 99.9% of asking in 35 days are properties that were priced to the market. Properties that are not are sitting longer. The days of pricing 10% above comparables and relying on the frenzy to cover it are over. Sellers who price accurately, prepare the property well, and list with strong marketing are still transacting in a historically fast timeframe.

    The June 30 Sound Transit board vote on the Everett Link Extension is a latent catalyst for the seller side. If full delivery is confirmed, demand for properties in station-area neighborhoods — particularly downtown Everett and the Mariner corridor — could accelerate. If the extension is truncated, demand in those specific neighborhoods may soften relative to south Everett, where the SW Everett Industrial Center station coverage is less in dispute.

    Frequently Asked Questions

    What is the Snohomish County housing market doing in 2026?

    Active listings surged 51.8% year-over-year in March 2026 to approximately 1,900 listings (2.8 months of supply). The median home price held at $738,000. Homes sell at 99.9% of asking in an average of 35 days. Mortgage rates are 6.38%. Still a seller’s market, but meaningfully more inventory than 2022–2024.

    Is it a good time to buy a home in Everett in 2026?

    More inventory and slower frenzy pace mean buyers have more options and more time than they did in 2022–2024. Prices remain high ($738K median) and rates at 6.38% are a significant monthly payment factor. For buyers who can qualify and plan to hold for 5+ years, Everett’s employment base provides demand support.

    Why did Snohomish County housing inventory jump 51.8%?

    Sellers who held off during 2023–2024 (to preserve low locked-in mortgage rates) are re-entering the market as life events force decisions. New construction deliveries — particularly attached housing and multifamily in south Everett — are also adding to active supply.

    What is the median home price in Snohomish County in 2026?

    $738,000 as of March 2026, according to NWMLS data. Homes are selling at 99.9% of asking price in an average of 35 days. Current mortgage rates are approximately 6.38%.

    How does Everett’s housing market compare to Seattle?

    Snohomish County’s $738,000 median is significantly below King County’s comparable. The spread between Snohomish and King County has narrowed from its historical range but remains meaningful for buyers who can work remotely or commute to south Snohomish County employment rather than central Seattle.

    Related Exploring Everett coverage: Snohomish County Housing Inventory Jumped 51.8% | Everett Housing Market Three Submarkets Guide | Sage Silver Lake Apartments Complete Guide

  • Moving to South Everett in 2026: What the Sage Silver Lake Studio Apartments Mean for New Residents and Renters

    Moving to South Everett in 2026: What the Sage Silver Lake Studio Apartments Mean for New Residents and Renters

    If you are moving to Everett or looking for a first apartment: 124 new studio apartments are opening in Silver Lake in August 2026 — market-rate, no income restrictions, no waitlist. The former Econo Lodge at 9602 19th Street SE is being converted by Sage Investment Group into the kind of workforce studio housing that has been in short supply across south Everett. Here is what you need to know before you apply.

    What Is Opening and When

    Sage Investment Group purchased the Econo Lodge near Silver Lake in 2025 for $9.5 million and is investing $7 million to convert all 124 motel rooms into fully equipped studio apartments with complete bathrooms and kitchens. Phase 1 leasing opens August 2026. The address is 9602 19th Street SE, Everett, WA 98204 — in the Silver Lake area of south Everett, along the Highway 99 corridor.

    These are market-rate units. No income verification, no application waitlist, no public subsidy program to navigate. Sage’s target market is the “Missing Middle” — people who need decent housing near jobs and transit, earn a moderate income, and don’t qualify for income-restricted housing but also can’t afford new luxury apartment stock. If that describes you, this project was built for your situation.

    Silver Lake as a Place to Live: What You’re Getting Into

    Silver Lake is south Everett’s working-neighborhood corridor. It sits along Highway 99 between downtown Everett to the north and the Everett Mall / Casino Road zone to the south. The neighborhood is defined by its access to employment rather than by a walkable amenity cluster — there is no downtown square, no concentrated restaurant row, no arts district. What Silver Lake has is proximity: 15–20 minutes to Paine Field, 10–15 minutes to downtown Everett, reasonable bus access on Community Transit’s south Everett routes.

    For new residents comparing Everett to Seattle: Silver Lake offers significantly lower housing costs on a per-square-foot basis, shorter commutes to south Snohomish County employment, and none of the density pressure that characterizes Seattle neighborhoods near light rail. It is a practical choice, not a lifestyle choice — which is exactly what a lot of people moving to Everett for a job at Boeing, Providence Regional Medical Center, or an Everett-area logistics employer are looking for.

    The Everett Housing Market Context for 2026

    Snohomish County saw a 51.8% year-over-year surge in active home listings in March 2026 — but that inventory is concentrated in for-sale product above $600,000. The March 2026 median home price held at $738,000, with homes still selling at 99.9% of asking in an average of 35 days. For renters, the supply expansion at the ownership level has not translated into dramatically lower rents on the apartment side.

    The Sage Silver Lake project adds 124 rental units to Everett’s inventory without displacing existing residents — the land was previously a motel with zero long-term residential occupancy. That net-new-unit character matters in a market where most new apartment supply has come from luxury developments with $1,800–$2,400 one-bedroom asking rents. Studio units in a motel conversion should price meaningfully below that range.

    How to Track This Opening

    Sage has not announced a pre-leasing timeline as of May 2026. Based on standard practice for projects of this type, expect listings to appear on Apartments.com, Zillow, and similar platforms 60–90 days ahead of the August 2026 Phase 1 opening — meaning June or July. Check Sage Investment Group’s portfolio page (sageinvestment.com/portfolio) directly for any pre-leasing announcements.

    For people actively apartment hunting in south Everett right now: the Cascade View and Silver Lake neighborhoods have seen new neighborhood guide coverage on this site that maps the full residential and amenity picture. The motel conversion at 19th Street SE is the first major new rental addition to Silver Lake in several years — and it arrives just as the south Everett housing corridor is seeing increased attention from investors tracking the Community Transit expansion and the Everett Link Extension light rail planning.

    Frequently Asked Questions for People Moving to Everett

    How do I apply for the Sage Silver Lake apartments in Everett?

    Pre-leasing has not opened as of May 2026. Phase 1 leasing opens August 2026. Watch sageinvestment.com/portfolio, Apartments.com, and Zillow for listings. Expect availability to appear 60–90 days before the August opening.

    Do I need to meet income requirements for the Silver Lake studios?

    No. These are market-rate units with no income restrictions and no subsidized housing program requirements. Standard rental application criteria (income verification, credit, rental history) will apply, but there are no maximum income limits or program eligibility requirements.

    What is Silver Lake like as a neighborhood in Everett?

    Silver Lake is a south Everett working neighborhood along the Highway 99 corridor. It has strong access to south Snohomish County employment (Paine Field 15–20 min, downtown Everett 10–15 min), Community Transit bus service, and the practical infrastructure of a mid-density residential area. It is a commuter-practical neighborhood rather than an amenity-rich one.

    How does Everett compare to Seattle for renting?

    Everett typically offers lower per-square-foot rents than Seattle, with shorter commutes to Snohomish County employment and less density pressure. The March 2026 median home price in Snohomish County was $738,000 — lower than King County. New luxury apartments in downtown Everett have listed at $1,800–$2,400 for one-bedrooms; workforce studio conversions like the Sage project should price below that range.

    What transit is available near 9602 19th Street SE?

    The Silver Lake area is served by Community Transit bus routes along Highway 99 and Casino Road. The planned Everett Transit consolidation into Community Transit will expand route coverage. Sound Transit’s Everett Link Extension, pending the June 30, 2026 board vote, includes stations that will eventually connect south Everett to the regional light rail spine.

    Related: Complete Guide to the Sage Econo Lodge Conversion | Cascade View Neighborhood Guide | Snohomish County Housing Market 2026

  • Glacier View: The Mid-Century Everett Neighborhood That Rewards the People Who Actually Know It

    Glacier View: The Mid-Century Everett Neighborhood That Rewards the People Who Actually Know It

    Quick take: Glacier View is a mid-century neighborhood anchored by Lowell Elementary, the Everett Golf and Country Club, and easy access to Forest Park — with one of the most active neighborhood associations in the city and housing prices that have climbed significantly in 2025–2026. It’s a neighborhood that rewards locals who already know it and puzzles visitors who drive through without stopping.

    Glacier View: The Mid-Century Everett Neighborhood That Rewards the People Who Actually Know It

    Ask most Everett residents about Glacier View and you’ll get a vague wave southward. Ask someone who actually lives there and you’ll get a 20-minute conversation about block parties, the trail system behind their house, the view of the Cascades from their backyard, and the neighbors who’ve been around since before the kids were born.

    That gap — between how the neighborhood looks from the outside and what it actually is — is Glacier View in a nutshell. It’s one of Everett’s more established residential pockets, filled with mid-century brick ramblers and craftsman bungalows, bounded by Interstate 5 to the east, Evergreen Way to the west, roughly 41st Street to the north, and 62nd Street SE to the south. It sits between the more frequently profiled south Everett neighborhoods and downtown, close enough to both to be convenient, quiet enough to feel like neither.

    The Housing Stock That Defines the Neighborhood

    Glacier View’s character is shaped heavily by its housing stock. Mid-century brick ramblers dominate — one-story homes with clean lines, good bones, and the kind of lot sizes that feel generous compared to newer infill construction. Craftsman cottages fill in the gaps. Most of the neighborhood was built out decades ago, which means the streets have mature trees and the lots have settled into something that feels lived-in rather than speculative.

    The market has moved. The median sale price in Glacier View reached approximately $785,000 in early 2026, up significantly year-over-year — reflecting broader Snohomish County market dynamics as buyers pushed into south Everett in search of space and value relative to Seattle and the Eastside. The neighborhood scores 82 out of 100 on Redfin’s competitive market index, with homes averaging around 15 days on market as of early 2026.

    For context: mid-century ramblers and cottages in Glacier View have ranged from roughly $415,000 to $850,000 depending on condition and lot, while craftsman-style homes have started around $500,000 and run into the $930,000 range at the high end. The 7,454 residents recorded by US Census data represent a homeownership-heavy community — approximately 70% owner-occupied, which contributes to the neighborhood’s stability and the active civic engagement its association is known for.

    The Everett Golf and Country Club — Anchor and Anomaly

    The single most distinctive feature of the Glacier View neighborhood’s geography is the Everett Golf and Country Club, which occupies a substantial portion of the neighborhood’s southwest side. Founded in 1910, the private club features an 18-hole course, a fitness center, a swimming pool, and seasonal dining and social events.

    The club is members-only, which means the majority of the green space it sits on is not publicly accessible. But it shapes the neighborhood in other ways: it keeps a large area in the heart of the neighborhood at low density, it contributes to the neighborhood’s sense of green space and views, and it creates a geographic logic to Glacier View’s street layout that makes it feel more residential and less through-traveled than other Everett neighborhoods on the arterial grid.

    Forest Park and the Trail System

    Glacier View residents enjoy proximity to two significant green space assets. Forest Park — Everett’s largest and oldest park — is accessible from the neighborhood’s western edge. The park offers a splash pad, picnic areas, a large playground, sports courts, tennis courts, meeting halls, and trail access. It’s the kind of anchor amenity that makes a neighborhood feel self-contained.

    The Interurban Trail also runs through the area, providing 12 miles of paved paths for biking, jogging, and walking. For residents who want outdoor recreation without driving, Glacier View is well-positioned relative to most of south Everett.

    Schools

    Glacier View students move through an Everett School District pathway: Lowell Elementary (Pre-K–5, located in the neighborhood at approximately 5010 View Drive), then Evergreen Middle School, and on to Everett High School. Lowell Elementary has a total enrollment of approximately 543 students and a 16:1 student-teacher ratio.

    The Everett School District recorded a 96.3% graduation rate in 2025 — a district record — and Everett High was part of that picture. Parents in Glacier View looking at the school pathway are working with a district that has been putting up real numbers on student outcomes.

    Families in the neighborhood’s southern portion may also fall within proximity of Mukilteo School District boundaries — the district’s service area runs through parts of south Everett, including Cascade View and corridor areas near Casino Road.

    The Neighborhood Association

    By most accounts — including the City of Everett’s own neighborhood documentation — the Glacier View Neighborhood Association is one of the more active in the city. Meetings are held in-person at the Lowell Elementary library at 6:30 PM, on a roughly bi-monthly schedule (typical dates: January, March, May, and November). Co-chairs Katie Shaffer and Crystal Cameron lead the association, which can be reached at GlacierViewNeighbor@hotmail.com.

    In February 2026, Glacier View residents were part of a broad south Everett neighborhood meeting at the Cascade Boys and Girls Club at 7600 Cascade Drive, which brought together multiple neighborhood associations alongside Mayor Franklin and Police Chief Robert Goetz. The multi-neighborhood meeting format is one the city has been piloting for district-wide conversations — Glacier View participated as part of that broader civic engagement effort.

    Getting Around

    Glacier View sits west of Interstate 5, making highway access straightforward for commuters heading north toward Boeing’s Paine Field facilities, south toward Bellevue and Seattle, or east. The neighborhood is roughly 26 miles from downtown Seattle by car — a commute that, depending on the time of day, runs anywhere from 40 minutes to well over an hour.

    Everett Transit runs bus routes along Evergreen Way, Colby Street, and Broadway — the major arterials that border or bisect the neighborhood — providing transit access for residents who prefer not to drive. This connectivity to south Everett’s main transit corridors will take on added relevance as Sound Transit’s light rail extension to Everett moves toward completion in the coming years.

    Why People Stay

    Neighbors who live in Glacier View tend to describe the same constellation of reasons for staying: quiet streets, homes with real yards, walkable access to Forest Park and the trail system, friendly block-level community, and proximity to south Everett amenities without the traffic intensity of Evergreen Way itself. The neighborhood scores high on family-friendliness and dog-friendliness on resident review platforms, and the 70% homeownership rate means most of the people on the block have chosen to be there long-term.

    The housing prices that felt like a deal a few years ago have moved. But the neighborhood’s character — mid-century, stable, community-engaged, green-space-adjacent — is what it is because the people who lived there made it that way over decades. That doesn’t change when the comp prices move up.

    Frequently Asked Questions

    Where exactly is Glacier View in Everett?

    Glacier View is bounded roughly by 41st Street to the north, Interstate 5 to the east, 62nd Street SE to the south, and Evergreen Way to the west. It sits in the southeast portion of central Everett, between downtown and the south Everett corridor.

    What schools serve Glacier View?

    Glacier View is primarily served by Everett School District. The pathway is Lowell Elementary → Evergreen Middle School → Everett High School.

    Is the Everett Golf and Country Club open to the public?

    No. The Everett Golf and Country Club (founded 1910) is a members-only private club featuring an 18-hole course, fitness center, and swimming pool. It is not open to the general public.

    How do I get involved with the Glacier View Neighborhood Association?

    Meetings are held at Lowell Elementary’s library at 6:30 PM on a bi-monthly schedule. Contact the association at GlacierViewNeighbor@hotmail.com. The City of Everett’s Neighborhood Associations page at everettwa.gov/334 has current meeting dates and neighborhood contacts.

    What parks are closest to Glacier View?

    Forest Park — Everett’s largest park — is accessible from the neighborhood’s western edge. The Interurban Trail runs through the area with 12 miles of paved paths. Lowell Park and Emma Yule Park are also within or adjacent to the neighborhood’s boundaries.

  • Snohomish County’s Housing Inventory Just Jumped 51.8% — What That Means for Everett Buyers and Sellers Right Now

    Snohomish County’s Housing Inventory Just Jumped 51.8% — What That Means for Everett Buyers and Sellers Right Now

    What is happening with the Snohomish County housing market in 2026? Snohomish County’s active home listings surged 51.8% year over year in March 2026, according to Northwest Multiple Listing Service data — one of the five largest inventory increases in the entire NWMLS territory. Despite the supply jump, the median home price held at $738,000 and homes are still selling at 99.9% of asking price in an average of 35 days, as rising mortgage rates (back up to 6.38% by late March) stall buyer momentum without collapsing prices.

    For years, the Snohomish County housing market operated in a single gear: not enough homes, too many buyers, prices up. What we’re seeing in the spring of 2026 is a gear shift — and if you’re buying or selling in Everett right now, the numbers look meaningfully different than they did twelve months ago.

    The Northwest Multiple Listing Service’s March 2026 market snapshot showed 1,900 active residential listings across Snohomish County, representing 2.8 months of supply — up sharply from the sub-1.5-month lows that defined the pandemic-era seller’s market. The county posted a 51.8% year-over-year increase in total active listings, putting it among the top five counties in NWMLS’s 27-county territory for inventory gains. And yet: median sold price held at $738,000. Homes are still closing at 99.9% of list price. More than half of all listings — 54.9% — went pending within the first 30 days.

    What’s happening is a collision between supply recovery and rate pressure, and the outcome is a market that is neither the frenzy of 2021 nor the freeze of late 2023. It’s something more complicated — and more nuanced by price band, neighborhood, and property type than any single headline can capture.

    What the Inventory Surge Actually Means

    A 51.8% jump in active listings sounds dramatic, and in some ways it is. At the depth of the supply crisis in 2021 and 2022, buyers in Snohomish County were competing for a fraction of the homes that are now on the market. The correction is real: there are more options, more time to think, and less risk of getting swept into a bidding war on a property you’ll regret.

    But context matters. Nationally, economists generally define a balanced market as 4–6 months of supply. At 2.8 months, Snohomish County is still solidly in seller’s territory by that standard. What’s changed isn’t the fundamental balance of power — it’s the intensity. Sellers are no longer in a position to list at any price and watch offers pile up. Buyers have time to inspect, to negotiate, to walk away if something doesn’t feel right.

    The data shows that distinction clearly. Average showings per listing dropped to 4.8, meaning buyers are doing fewer casual tours and more intentional ones. The average number of showings before a home went pending was 11 — a number that would have seemed impossibly high during the 3–4 showing average of peak seller’s market years, but reflects a market where buyers are being deliberate rather than desperate.

    What Rising Mortgage Rates Are Doing to the Market

    The inventory increase isn’t happening in isolation. Mortgage rates are doing their part to put a lid on activity. Rates briefly dipped below 6% in February 2026, which triggered a small rush of buyers who had been waiting on the sidelines. By late March, rates climbed back to 6.38%, and that pop of demand faded. Closed sales in March across the NWMLS territory came in at 5,417, up just 0.2% year over year — essentially flat despite the inventory recovery that, in theory, should have enabled more transactions.

    For Everett specifically, the rate environment is pushing buyers into decisions that a lower-rate market would make obvious. At 6.38%, a $577,000 Everett home (approximately the city’s early-2026 median) requires a monthly principal and interest payment of roughly $3,100 on a 20%-down conventional loan — before taxes, insurance, and HOA. At the 30% of income affordability threshold, that requires a household income of approximately $124,000 annually. The Everett area median household income in 2026 sits well below that threshold, which is why first-time buyers are stretched, why rental demand at buildings like Waterfront Place’s Sawyer and Carling remains strong despite a soft rental market, and why conversion projects like the Econo Lodge-to-apartments project in Silver Lake are filling a real need.

    By Property Type: Three Very Different Stories

    The Snohomish County housing market in early 2026 is not one market — it’s three, layered by property type, and each is behaving differently.

    Residential Resale: Competitive But Not Frenzied

    For existing single-family homes, the market is still tilted toward sellers, but the tilt is gentler. Inventory sits at approximately 2.0 months for resale properties, and homes are closing at 99.8% of list price on average. Days on market has lengthened modestly. The $738,000 median price is up 1.2% year over year — still appreciating, but at a rate that buyers can factor into a plan rather than a rate that makes them feel like they’re chasing a moving target.

    The practical implication for Everett buyers: you have time to make an offer you feel good about. You’re unlikely to win at list price on a well-priced home in a good neighborhood, but the days of writing five offers before getting accepted at 15% over asking are gone for most price ranges.

    Condos: The Strongest Performer in the County

    Condominiums are the counterintuitive winner in the current market. The average condo price in Snohomish County rose 4.4% year over year to $586,261 — outperforming single-family appreciation by more than three percentage points. Inventory expanded to 2.7 months, giving buyers meaningful choice without triggering price softness. In Everett specifically, condos were moving in a 22-day median with sellers achieving 99% of list price as of early 2026.

    This pattern reflects the affordability ceiling at work. At a $586,000 average, condos give entry-level buyers a path into Snohomish County ownership that single-family homes at $738,000 median no longer provide at 6.38% rates. For investors, the combination of relative affordability, strong occupancy rates at waterfront rental properties, and rising condo values makes the sub-$600K condo segment worth watching closely through the rest of 2026.

    New Construction: The Buyer’s Opportunity

    New construction is where the current market most favors buyers. The average new construction price in Snohomish County came in at $923,988 in early 2026 — down 2.3% year over year — while closed new construction sales dropped 34.3%. Builders are sitting on inventory they need to move, and that creates leverage for buyers who are flexible on timing and location.

    Builders are actively offering incentives: rate buy-downs, closing cost contributions, and in some cases price adjustments on standing inventory. For a buyer who doesn’t need to be in a specific neighborhood and can wait for a completed unit, the new construction segment in Snohomish County in 2026 offers some of the best negotiating conditions in years.

    What This Means for Everett Specifically

    The county-level numbers describe a broad trend, but Everett’s submarket has its own dynamics. Downtown Everett and the waterfront corridor saw stronger appreciation earlier in 2026 — roughly 11.4% year over year — compared to the -7.5% softness in the 98208 zip code (south and east Everett). Northwest Everett, driven by new infrastructure investment including the recently opened Edgewater Bridge and ongoing waterfront development, posted the strongest appreciation in the city at approximately 22.1%.

    The macro picture for Everett: the city’s development fundamentals remain strong. The Port of Everett waterfront is attracting tenants and investment. The downtown stadium received its $10.6M design authorization. The Millwright District Phase 2 is building out. Boeing’s North Line is ramping. Snohomish County’s industrial market is the most affordable in Puget Sound, drawing logistics users. These are demand generators, and demand generators support home values even when rates are working against them.

    Playbook for Buyers and Sellers in This Market

    If You’re Buying

    You have more time and more leverage than you did 18 months ago, but you’re not in a buyer’s market by any traditional definition. Get pre-approved — sellers still want certainty. For resale homes, coming in slightly below list on properties that have been sitting more than 21 days is reasonable. For new construction, ask about rate buy-downs before accepting the sticker price; builders have flexibility they didn’t have in 2023. If condos fit your lifestyle, the 4.4% appreciation and relative affordability make them worth serious consideration as a first purchase.

    If You’re Selling

    Price accurately from day one. The 54.9% of listings going pending in the first 30 days tells you that well-priced homes are still moving fast. The homes that are sitting are overpriced relative to condition and location. Sellers who price to the market will sell. Sellers who price to last year’s comparable sales will find themselves doing a price reduction they could have avoided. With 1,900 active listings, buyers have enough alternatives to walk away from wishful pricing.

    Frequently Asked Questions

    What is the median home price in Snohomish County in 2026?

    The median sold price for homes in Snohomish County was $738,000 in March 2026, up 1.2% year over year, according to NWMLS data.

    How much did Snohomish County housing inventory increase?

    Active listings in Snohomish County increased 51.8% year over year as of March 2026, one of the five largest inventory gains in the 27-county NWMLS territory.

    What are current mortgage rates for Snohomish County buyers?

    Mortgage rates returned to approximately 6.38% by late March 2026 after briefly dipping below 6% in February, which stalled some buyer activity despite improved inventory.

    How long are homes sitting on the market in Snohomish County?

    Homes in Snohomish County are selling in an average of 35 days as of early 2026, with 54.9% of listings going pending within the first 30 days.

    Is the Snohomish County housing market a buyer’s or seller’s market in 2026?

    With 2.8 months of inventory, the market is technically still a seller’s market (balanced typically requires 4–6 months), but conditions are significantly more favorable for buyers than 2021–2022, with more options, more negotiating room, and less bidding war pressure.

    What is happening with condo prices in Snohomish County?

    Condominiums are outperforming single-family homes, with the average condo price rising 4.4% year over year to $586,261. In Everett specifically, condos are selling in a 22-day median at 99% of list price.


  • Everett’s Econo Lodge Is Becoming 124 Studio Apartments — What Sage Investment’s $16.5M Conversion Means for Silver Lake

    Everett’s Econo Lodge Is Becoming 124 Studio Apartments — What Sage Investment’s $16.5M Conversion Means for Silver Lake

    What is the Econo Lodge Everett conversion? Sage Investment Group purchased the former Econo Lodge near Silver Lake at 9602 19th Street SE in Everett, WA for $9.5 million in 2025 and is investing $7 million to convert it from a 124-room motel into 124 studio apartments. Phase 1 leasing is expected to begin in August 2026, targeting “Missing Middle” renters — moderate-income earners who need housing near jobs and transit but don’t qualify for subsidized programs.

    Driving south on Highway 99 through Silver Lake, it blends into the visual noise: a two-story motel sign, a parking lot, the familiar beige of a budget chain that hasn’t quite kept up with the neighborhood. But the Econo Lodge at 9602 19th Street SE is in the middle of a $16.5 million transformation — and by August 2026, the sign will be gone and 124 people will be calling it home.

    Sage Investment Group, a Seattle-area real estate company that has been quietly working the Puget Sound motel-to-apartment conversion market, bought the property for $9.5 million and is putting another $7 million into the build-out. It’s one of the most straightforward housing additions Everett has seen in recent years: the building already exists, the units are already laid out, the plumbing is already in the walls. What Sage is doing is pulling out the hotel fixtures and replacing them with kitchens, modern bathrooms, and the infrastructure people need to actually live somewhere — not just sleep there on the way somewhere else.

    Why Hotel-to-Apartment Conversions Are an Everett Housing Strategy Now

    Everett doesn’t have a housing affordability problem that can be solved with one project. It has a supply problem that’s been building for years — and conventional apartment development, with its permitting timelines, construction costs, and financing gaps, isn’t closing that gap fast enough. The city’s median home price sits above $577,000 as of early 2026, apartment inventory is tightening (vacancy rates at Waterfront Place’s Sawyer and Carling buildings are at 95% occupancy), and new single-family construction in Snohomish County closed down 34.3% year over year in early 2026.

    Hotel-to-apartment conversions sidestep the most expensive parts of that development equation. The bones of the building are already there. The city doesn’t have to wait years for a ground-up permit. The developer isn’t fighting soil conditions, utility connections, or a blank-page design process. They’re retrofitting something that already works as a structure and making it work as a home instead.

    Sage has been running this playbook across the region. In January 2026, the company picked up another closed motel in the Seattle metro for a similar conversion. The Econo Lodge deal is their Everett execution of a strategy they know. The $9.5M purchase price and $7M in renovations — $16.5M total — delivers 124 units at roughly $133,000 per door, a fraction of what ground-up multifamily development typically costs in the region.

    What the 9602 19th Street Location Means for Residents

    The Silver Lake location isn’t downtown Everett, but it’s not a dead zone either. The property sits near the intersection of 19th Street SE and Highway 99, which puts it within range of Everett’s major employment corridors. Boeing’s Paine Field campus is about five miles north. The Silver Lake area has its own grocery infrastructure, access to Community Transit routes, and proximity to the Snohomish River trail system.

    For the renter Sage is targeting — the “Missing Middle” occupant — location like this matters. These aren’t people choosing between the waterfront and a suburb. They’re workers who need a real address, a kitchen to cook in, and a reasonable commute. The Highway 99 corridor has transit access that connects to broader Snohomish County routes. As the Everett Transit consolidation into Community Transit moves forward (a process that could be formally voted on later in 2026), frequency and coverage on routes serving this corridor is expected to improve.

    Construction was set to begin in November 2025, with Phase 1 leasing opening in August 2026. Specific unit pricing wasn’t announced at the time of the project’s public filing, with Sage indicating rates would be available closer to the opening date. Units will include full bathrooms and kitchens — a significant upgrade from the motel-room baseline — and the company has positioned the project as market-rate housing for people earning moderate incomes who aren’t eligible for subsidized programs.

    The “Missing Middle” Problem Sage Is Trying to Solve

    The “Missing Middle” isn’t a buzzword — it’s a real gap in Everett’s housing market that has been widening for years. It describes people who earn too much to qualify for income-restricted affordable housing but too little to comfortably absorb Everett’s going market rents. In early 2026, average apartment rents across Everett sat around $1,849 per month according to market data — down about 2% year over year, but still requiring an annual income of roughly $74,000 to be considered affordable at the standard 30% of income threshold.

    Snohomish County’s office vacancy came in at 10.7% in Q1 2026, meaning there’s commercial demand generating employment — but the workers filling those jobs need somewhere to live. The $23 million in housing and behavioral health funding Snohomish County approved in April 2026 helps on the deeply subsidized end of the spectrum. What the Econo Lodge conversion helps with is the layer above that: people who are employed, stable, and just need a reasonably priced unit near their job.

    Studio apartments specifically serve a population that includes recent graduates, single workers early in their careers, seniors downsizing from larger spaces, and people relocating to take jobs in Everett’s growing industrial and aerospace sectors. With Boeing’s North Line ramping toward Rate 47 production this summer, there’s a real workforce influx expected — and those workers need places to land.

    How This Fits Into Everett’s Broader Housing Production Picture

    The Econo Lodge conversion doesn’t exist in isolation. It’s part of a wider shift in how Everett — and Snohomish County broadly — is adding housing supply. The city’s Critical Areas Ordinance update (passed April 2026) adjusted development rules near wetlands and stream buffers, affecting what’s buildable on undeveloped parcels. The county’s $23M housing award is funding three Everett projects, primarily deeply affordable units with behavioral health components. Eclipse Mill Park’s two-phase riverfront development in Lowell is adding open space that will raise property values — and pressure — in the Riverside corridor.

    The conversion model isn’t a magic solution, but it addresses a real problem with real speed. The motel footprint at 9602 19th Street SE — 39,658 square feet according to public records — produces 124 homes without breaking ground on new earth, without a years-long entitlement process, and without the financing complexity that stops ground-up multifamily deals from penciling in the current rate environment.

    Everett’s Cascade View neighborhood nearby has been quietly stable — owner-occupied, modest, not subject to the volatility of downtown or the waterfront. The addition of 124 rental units on the Highway 99 corridor adds density in a place that can absorb it without displacing an existing residential community.

    What Comes Next for the Project

    With construction underway since late 2025 and Phase 1 leasing targeting August 2026, the Econo Lodge conversion is on a short runway. Sage has not announced specific rent levels, but the “Missing Middle” positioning and market-rate framing suggests units will be priced at or below the prevailing Everett studio average — likely in the $1,200–$1,600 range, though that figure is our inference from regional comparables and not a confirmed Sage quote.

    The project won’t solve Everett’s housing shortage. But it adds 124 units to the supply side of a market that needs every unit it can get, delivers them faster than ground-up construction, and does it in a segment of the market — moderate-income workers, studios — that traditional apartment developers have historically underserved.

    For anyone interested in the project’s progress, the property is publicly visible at 9602 19th Street SE, and Sage’s timeline puts leasing launch at August 2026. We’ll update this when unit pricing and availability are announced.

    Frequently Asked Questions

    Where is the former Econo Lodge being converted into apartments?

    The property is located at 9602 19th Street SE in Everett, WA, near Silver Lake and the Highway 99 corridor in South Everett.

    How many apartments will the converted Econo Lodge have?

    124 studio apartment units, matching the former motel’s room count. Each unit will have a full kitchen and bathroom.

    Who is developing the Everett Econo Lodge apartment conversion?

    Sage Investment Group, a Seattle-area real estate company known for motel-to-apartment conversions across the Puget Sound region. They purchased the property for $9.5 million and are investing $7 million in renovations.

    When will the Everett Econo Lodge apartments open?

    Phase 1 leasing is expected to begin in August 2026. Construction began in late 2025.

    How much will rent be at the converted Everett Econo Lodge?

    Sage has not announced specific rent levels as of April 2026, stating pricing will be available closer to the opening date. The project is positioned as market-rate housing targeting “Missing Middle” renters — moderate-income workers who don’t qualify for subsidized housing programs.

    What is “Missing Middle” housing in Everett?

    “Missing Middle” refers to housing for people who earn too much to qualify for income-restricted affordable units but too little to comfortably afford market-rate rents. In Everett, with average rents around $1,849/month, that typically means workers earning $50,000–$80,000 annually.


  • Cascade View: South Everett’s Quietly Stable Neighborhood Most Outsiders Drive Through Without Noticing

    Cascade View: South Everett’s Quietly Stable Neighborhood Most Outsiders Drive Through Without Noticing

    Last updated: April 30, 2026 | Cascade View is the south Everett neighborhood most outsiders drive through on Everett Mall Way without ever noticing it has a name. The 6,391 people who live there know better.

    Where it sits: Cascade View is a primarily residential south Everett neighborhood bounded on its southern and western edges by Everett Mall Way and Evergreen Way, with Twin Creeks immediately to the east and Mill Creek a short drive to the south. Population is about 6,391; median home sale prices run around $765,000 in the most recent twelve-month window — up roughly 30 percent year over year. The neighborhood association meets quarterly under chair Michael Trujillo, who also chairs the adjoining Twin Creeks association.

    The Neighborhood People Drive Through to Get Somewhere Else

    If you’ve ever pulled off I-5 at Everett Mall Way to grab a coffee or hit the mall, you’ve been in Cascade View. Most people don’t realize it. The neighborhood doesn’t announce itself with the kind of arterial signage Boulevard Bluffs or Northwest Everett gets, and the commercial frontage along Everett Mall Way reads more like “south Everett retail strip” than “residential neighborhood with a name and a chair.”

    But step a couple blocks back from the arterial and Cascade View turns into one of south Everett’s most stable single-family residential pockets. The streets curve. The lots are wider than the apartment-dense corridors closer to Casino Road. The trees are mature. The dogs get walked. It’s the kind of neighborhood that gets quietly recommended to families relocating to the Everett area who want decent schools, a manageable commute, and a price point south of the city’s historic core.

    Where Cascade View Begins and Ends

    Cascade View sits in the southeast corner of the City of Everett, northeast of Mill Creek and northwest of Twin Creeks. The neighborhood’s southern and western borders are formed by Everett Mall Way and Evergreen Way — the two arterials that funnel commuters between south Everett, Mill Creek, and I-5. To the east, the neighborhood butts up against the Twin Creeks corridor; to the north, the neighborhood feeds into the broader south Everett residential grid.

    The whole footprint is about 1,522 occupied housing units, per the most recent demographic estimates available through Point2Homes and Niche. Of those, 60.8 percent are owner-occupied — a higher rate than south Everett’s apartment-dense corridors closer to Casino Road, but lower than the historic-core neighborhoods like Northwest Everett or Port Gardner. The remaining 39.2 percent are renter-occupied, which is consistent with what you’d expect from a neighborhood that’s mostly single-family but has a meaningful supply of duplexes and townhomes mixed in.

    The People Who Live Here

    Cascade View skews younger than Everett as a whole. The median age is 35, and adults between 25 and 44 make up about 32.2 percent of the neighborhood — the family-formation cohort. Another 23.6 percent are between 45 and 64, and roughly 13 percent are 65 and older. Average household income in 2023, the most recent year of full data, came in at $126,102.

    Demographically, Cascade View is among the more diverse residential pockets in south Everett. Roughly 56.1 percent of residents identify as White, 16.5 percent as Asian, and 6 percent as Black. About 70.4 percent of residents are U.S.-born citizens, 15.9 percent are naturalized citizens, and 13.7 percent are non-citizens — a profile that tracks closely with the broader south Everett pattern documented in the desk’s coverage of Stations Unidos and the Casino Road corridor.

    What a Cascade View Home Costs

    The neighborhood’s housing market has moved sharply over the past year. Per Homes.com’s most recent twelve-month rolling data, the median sale price for a Cascade View home was about $765,457 — up roughly 30 percent over the prior twelve-month period. NeighborhoodScout’s broader estimate puts the median real estate price closer to $643,898, reflecting different methodology and a larger sample window. Either figure tells the same basic story: Cascade View is no longer the entry-level south Everett bargain it was a decade ago.

    Rentals are a similar story. Average rent in Cascade View runs around $2,855 — meaningfully above Everett’s citywide average, but a notch below comparable Mill Creek and Lynnwood pricing. The math reflects the neighborhood’s position: residential enough to feel like a real neighborhood, accessible enough to I-5 and Everett Mall Way that it doesn’t carry the “you’ll need a car for everything” tax some of the more remote pockets do.

    The Neighborhood Association — Quarterly, Not Monthly

    The Cascade View Neighborhood Association is one of the more active in south Everett. Chair Michael Trujillo — a longtime fixture on Everett’s Council of Neighborhoods — currently chairs both Cascade View and the adjoining Twin Creeks association, with the explicit hope that a Twin Creeks resident will eventually step up so the two seats can be split again.

    Starting in 2023, the association shifted from monthly meetings to quarterly Community Meetings — a format the chair has said is meant to bring civic leaders directly into the neighborhood: Everett Police, Everett Fire, Everett Parks, and Everett Traffic departments cycle through the agenda alongside neighborhood updates. The quarterly cadence is also more sustainable for a volunteer-run association in a neighborhood where most adults are working full time and raising kids.

    Meeting dates and locations are published on the City of Everett’s neighborhood calendar at everettwa.gov/384/Cascade-View and on the association’s public Facebook page. Anyone who lives within the neighborhood boundaries can attend.

    Schools, Parks, and the Everyday

    Cascade View students are split between two school districts depending on the address — a quirk south Everett families know well. Some streets feed into Everett Public Schools and Cascade High; others fall inside Mukilteo School District boundaries and feed Mariner High School. The Mukilteo SD lookup at mukilteoschools.org/37434_3 is the cleanest way to confirm which district a given Cascade View address belongs to.

    For green space, the neighborhood is well-positioned. Forest Park is a short drive north on Evergreen Way, and the regional draw of Thornton A. Sullivan Park at Silver Lake is a quick hop to the northeast. Day-to-day errands run through Everett Mall and the surrounding retail along Everett Mall Way, which means most Cascade View households can hit groceries, hardware, and a coffee shop without getting on I-5.

    The Quiet Recommendation

    If you talk to long-term Cascade View residents, the recommendation comes out the same way every time: it’s a neighborhood that delivers the practical version of what people say they want when they say they’re looking for a neighborhood. Walkable streets without being downtown. Diverse without being transient. Stable without being stagnant. A volunteer chair who actually shows up. A market that’s appreciating, but not so fast that long-time owners feel taxed out.

    Cascade View is the next neighborhood on the city’s 19-neighborhood list to get a standalone spotlight on this desk — and after years of being the south Everett pocket people drive through to reach Mill Creek, that feels overdue.

    Frequently Asked Questions

    Where is the Cascade View neighborhood in Everett?

    Cascade View is a south Everett neighborhood located northeast of Mill Creek and northwest of Twin Creeks. Its southern and western borders are formed by Everett Mall Way and Evergreen Way. The neighborhood is part of the City of Everett’s 19 official neighborhoods and is administered through the Office of Neighborhoods.

    What is the population of Cascade View?

    Cascade View has a population of about 6,391, with roughly 1,522 occupied housing units. About 60.8 percent of those units are owner-occupied and 39.2 percent are renter-occupied. The median age is 35, and the average household income in 2023 was $126,102.

    How much do homes in Cascade View cost?

    The median sale price for a Cascade View home over the past twelve months was about $765,457, up roughly 30 percent year over year, per Homes.com data. NeighborhoodScout’s broader median real estate estimate is closer to $643,898, reflecting a longer sample window. Average rent in the neighborhood is around $2,855.

    Does the Cascade View Neighborhood Association still meet?

    Yes. The association shifted from monthly meetings to quarterly Community Meetings starting in 2023, with civic leaders from Everett Police, Fire, Parks, and Traffic departments cycling through agenda time. Chair Michael Trujillo also currently chairs the adjoining Twin Creeks association. Meeting dates are published on the City of Everett’s Cascade View page at everettwa.gov/384/Cascade-View.

    Which school district serves Cascade View?

    Cascade View is split between Everett Public Schools and Mukilteo School District depending on the address. Some streets feed into Cascade High School (EPS); others feed into Mariner High School (Mukilteo SD). The Mukilteo SD address lookup at mukilteoschools.org/37434_3 is the cleanest way to confirm which district a specific Cascade View address belongs to.