Seattle Real Estate Market Update: Current Trends and What They Mean for Buyers

Welcome to HomePro Associates, your go-to resource Seattle real estate market update. We are here to keep you informed with the latest market trends, key statistics, and insightful analysis of Seattle’s real estate landscape.

I’m Emily Cressey, a Seattle real estate broker with HomePro Associates, and I share these market updates to help buyers, sellers, and investors understand what’s really happening in the Seattle housing market.

Whether you’re buying, selling, or investing, our goal is to provide you with the knowledge and tools you need to make smart, confident decisions in today’s competitive market. From neighborhood insights to pricing trends, we cover all the essentials to help you navigate Seattle’s ever-evolving real estate environment.

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Seattle’s Real Estate Market Update for January 2026

As we move into early 2026, Seattle’s housing market is coming out of its typical year-end slowdown and settling into a more balanced, predictable rhythm. The intense competition of prior years has eased, but the market has not stalled. Instead, we are seeing stability, with buyers and sellers operating on more even footing.

Inventory remains higher than it was a year ago, which continues to give buyers more choice and more leverage than they had during peak market conditions. Homes are generally taking longer to sell, and negotiated concessions like closing cost credits, inspection repairs, and rate buydown assistance have become common parts of successful deals.

Not all segments are behaving the same. Well-priced, move-in-ready homes, especially in the $700,000 to $1.1 million range, are still drawing strong interest in high-demand areas such as Ballard, West Seattle, Bellevue, and North Seattle. These homes can still sell quickly when pricing and presentation are right.

The Eastside condo market, particularly in Redmond, continues to stand out. With single-family home prices remaining high, many buyers, including tech employees along the 520 corridor, are choosing condos as a more attainable entry point. Demand remains steady for newer buildings and well-run communities.

Overall, today’s market rewards strategy. Buyers benefit from improved negotiating power and more time to make decisions, while sellers who price accurately and prepare their homes well are still achieving strong results.

If you are planning a move this winter or spring, a clear plan and current market insight will make all the difference.

🎥 Seattle Real Estate Market Update – December 2025

Sales Activity and Inventory Levels

As we move into early 2026, Seattle’s real estate market is behaving much as expected after the year-end seasonal slowdown. Buyer activity eased in late 2025, influenced in part by interest rate uncertainty, but demand has remained steady for well-priced, well-presented homes in desirable neighborhoods.

Inventory is still elevated compared to last year, giving buyers more options and greater negotiating leverage. While new listings slowed toward the end of the year, overall active inventory remains relatively high. Homes that are overpriced or need work are taking longer to sell and are more likely to require price adjustments.

In contrast, move-in-ready homes priced between $700,000 and $1.1 million continue to attract meaningful buyer interest. In this market, pricing accuracy and presentation are critical to success.

As a Seattle real estate broker with HomePro Associates, I see this shift daily. Buyers are more selective, but they are still active and ready to move forward when the value is right.

Sales Activity Intensity™

Sales activity has shifted into a more balanced market environment. Months of inventory across King County is hovering around three months, which still leans seller-friendly, but looks very different from the ultra-competitive conditions of recent years. Routine bidding wars are no longer the norm, and multiple offers are mostly limited to exceptional homes in highly desirable locations.

Buyers are taking more time to compare options and negotiate, while sellers are adjusting expectations through strategic pricing and, in many cases, offering concessions to move transactions forward. In this market, flexibility and realistic positioning are key to getting deals closed.

New Listings and Active Inventory

Condo markets, particularly in Redmond, Bellevue, and Downtown Seattle, showed renewed activity toward the end of 2025. As affordability continues to challenge many single-family homebuyers, condos remain an attractive entry point for first-time buyers and investors looking for lower price points in well-connected areas.

While new condo listings typically slow during the winter months, motivated buyers remain active and are often more decisive due to reduced competition. For sellers, this creates a strategic opportunity to prepare and list early, before the spring inventory surge increases competition.

Days on Market

Homes are still selling, but buyers are taking more time to decide. In November, the median days on market in Seattle increased to 27 days, up from 24 in October and 21 in September.

As a Seattle real estate broker with HomePro Associates, I’m seeing buyers use this extra time to be more selective, especially when evaluating pricing and condition.

That said, move-in-ready homes in highly desirable areas like North Seattle, Bellevue, and Shoreline are still moving quickly — typically within 7 to 10 days if priced strategically. Listings that are dated or overpriced are seeing longer market times, especially as buyers become more cautious during the holiday season.

Pricing Trends

Seattle-area home prices experienced typical year-end softening toward the end of 2025. Median single-family home prices eased modestly from early fall levels, reflecting normal seasonal patterns rather than a meaningful market downturn.

Buyers remain price-conscious due to higher interest rates, but they are still actively purchasing homes that are well-prepared and realistically priced. Listings that show well and align closely with recent comparable sales are continuing to attract solid interest and can go pending within two weeks.

Homes that are overpriced or need work are seeing longer days on market and are more likely to require price adjustments before attracting serious offers.

Single-Family Residences

• Seattle’s single-family home market remains active but more measured compared to the spring and summer rush. In November, homes priced between $750K and $1.1M continued to draw the most buyer interest — particularly in established neighborhoods like Ballard, Ravenna, West Seattle, Maple Leaf, and Bryant.
• Buyers are entering the market with a more value-focused mindset, carefully weighing location, condition, and price. Move-in-ready homes that show well and require minimal work are still commanding attention and, in some cases, multiple offers — but only when they hit the market priced competitively from day one.
• For sellers, precision pricing and staging are more important than ever. With more inventory and fewer urgent buyers, the difference between pricing right and overshooting the mark can mean the difference between selling in 7–10 days or lingering on the market for 30+ days with potential price reductions. In today’s more balanced market, success hinges on smart strategy, solid prep, and excellent local market knowledge.

Condos

• The condo market in Seattle continues to show steady activity as we close out the fall season. While the broader real estate market has cooled slightly, condos remain a resilient and appealing option, particularly for first-time buyers, downsizers, and investors looking for a more affordable path to homeownership in central locations.
• Inventory has climbed, giving buyers more options and more leverage. According to NWMLS data, active condo listings are up roughly 22% year-over-year in King County. This means fewer bidding wars and better negotiating opportunities for buyers — especially for units that have lingered or need cosmetic updates.
• That said, presentation is everything. Move-in-ready condos with modern finishes, natural light, and good layouts are still selling within 2–3 weeks. In contrast, units that are dated, poorly staged, or priced too ambitiously are sitting longer and may see one or more price reductions.

In November, the latest data for King County shows inventory continuing to rise — with months‑of‑supply climbing to approximately 3.1 months, a level not seen since 2020.

Buyer demand remains steady but cautious, as elevated interest rates and larger inventory give prospective buyers more time to shop, compare, and negotiate. Homes are no longer flying off the market — buyers are taking their time.

Across much of Seattle, the median days on market (DOM) has increased — many homes now take 3–4 weeks on average to sell, compared to a faster pace earlier in the year.

Market Outlook

As of November, Seattle’s real estate market remains cooling but stable. Inventory has climbed to about 3.1 months of supply, the highest since 2020, while buyer demand stays steady yet selective. Homes are taking longer to sell, but well-priced, well-presented listings continue to move within a few weeks.

The average 30-year mortgage rate is now hovering near 6.9%, keeping affordability tight and encouraging buyers to take a more measured approach. Despite these challenges, the market remains balanced and orderly—a clear correction, not a collapse.

Heading into winter, Seattle’s housing landscape rewards strategy over speed. Buyers have more leverage, while sellers who price realistically and prepare their homes well can still achieve solid results. Success now depends on market knowledge, presentation, and precision pricing.

Advice for Buyers and Sellers

Buyers: Seattle buyers are finally in a stronger position. With homes now taking an average of 24 days to sell, there’s less competition and more room to negotiate. Still, desirable listings—especially in Ballard, Green Lake, and West Seattle—can move quickly when priced right.

• Get pre-approved early. Sellers still favor well-qualified buyers. Being fully underwritten gives your offer a clear advantage.
• Move quickly on the right home. The market may be slower overall, but turnkey listings still attract attention quickly.
• Negotiate wisely. Requests for repairs, credits, or seller-paid rate buydowns are becoming more common—use this flexibility to your advantage.
• Track interest rates. With 30-year mortgage rates around 6.9%, even a slight dip can make a real difference in affordability. Stay in touch with your lender and be ready to act if rates ease.

Sellers: November still offers opportunity for motivated sellers, but success now depends on precision and presentation. With inventory at its highest level since 2020, buyers are comparison-shopping carefully, making pricing and marketing more important than ever.

• Prep like a pro. Clean, stage, and refresh your home to create that emotional connection buyers need. Even small updates can make a big impact.
• Invest in marketing. Professional photos, video tours, and standout online listings are essential to draw attention in a slower market.
• Price it right. With more options available, buyers are price-sensitive. Starting at market value helps generate early momentum and avoid later price cuts.
• Be flexible. Offers often include contingencies or concessions, such as rate buydowns or inspection credits. Sellers who negotiate cooperatively tend to close faster and more smoothly.

As we head into the holiday season, the key for both buyers and sellers is strategy over speed. Seattle’s housing market continues to cool gradually, but opportunities remain strong for those who understand today’s dynamics and make data-driven, well-timed moves.

Looking Back at Q3 2025

As we review the third quarter of 2025—covering July through September—Seattle’s housing market clearly transitioned from a high-activity summer into a cooler, more balanced fall. The market’s momentum slowed modestly, shaped by higher interest rates, growing inventory, and increasingly selective buyers. Still, well-priced and well-presented homes continued to attract solid activity, particularly in core neighborhoods like Ballard, Green Lake, and Shoreline.

As a Seattle real estate broker with HomePro Associates, this shift reflected a return to more normalized conditions where pricing, presentation, and location mattered more than urgency alone.

1. Market Activity & Home Sales: Throughout Q3, buyer demand remained steady but more cautious. In King County, inventory averaged 2.7 months, the highest level we’ve seen since 2021—signaling a clear move toward balance. Homes sold in a median of 19 days, up from single digits in the spring, showing that buyers now have more time to compare options and negotiate. Even so, turnkey homes under $1.1M in popular areas continued to sell quickly when priced right.

2. Price Trends: The median sale price for single-family homes in Seattle averaged $870,000 for Q3, representing a 2% decline from Q2 and about 4% lower year-over-year. This softening reflects the normalization of the market, not a crash—pricing is simply adjusting to reflect today’s higher financing costs and broader inventory.

3. Inventory Levels: Inventory continued to build throughout the third quarter, marking one of the most significant shifts of 2025. By the end of September, King County inventory reached 2.9 months, up from 2.1 months in June and representing the highest level in over two years. This increase has given buyers noticeably more breathing room, signaling a transition toward a more balanced market.

While new listings held steady through summer, many sellers found themselves competing for attention as buyer urgency eased. In popular neighborhoods like Ballard, Ravenna, and West Seattle, turnkey homes priced correctly still went pending within two weeks—sometimes with multiple offers—but others lingered longer, often requiring price adjustments.

The uptick in supply is a welcome change for buyers, providing more time and options, but inventory remains below the 4–6 months that defines a true buyer’s market. For now, balance—not a downturn—is the defining theme of Q3.

4. Neighborhood Highlights: During Q3, Seattle-area neighborhoods showed diverging trends depending on price point and location. Ballard, West Seattle, and Green Lake remained active, attracting consistent demand for their walkability, charming homes, and community feel. These areas saw homes sell fastest when listed under $1.1M and move-in ready.

Shoreline and Bothell continued to perform well, thanks to light rail expansion, excellent schools, and more suburban space for families. Shoreline, in particular, saw renewed buyer interest from commuters seeking larger lots within reach of downtown.

Meanwhile, Northgate and Lynnwood gained traction among both investors and first-time buyers due to expanded light rail service and more affordable condo and townhouse options. Overall, neighborhoods offering value, lifestyle convenience, and strong transportation links outperformed higher-priced or less updated areas.

5. Economic & External Factors:Mortgage rates fluctuated between 6.6% and 7.0% throughout Q3, maintaining pressure on affordability but showing relative stability compared to earlier volatility. While higher borrowing costs slowed some discretionary moves, Seattle’s diverse economy—anchored by tech, healthcare, and biotech—remains resilient, keeping local employment strong and supporting steady buyer activity.

Buyers are adapting to the new rate environment by using seller-paid rate buydowns, ARMs (adjustable-rate mortgages), and other creative financing strategies to stay competitive. Inflation has cooled slightly since spring, offering cautious optimism that rates could ease further heading into 2026.

6. Looking Ahead: As we move into Q4 2025, Seattle’s real estate market is expected to maintain a measured, balanced pace. Sellers who list this fall will face more competition, but well-priced, well-presented homes can still stand out and sell efficiently. The key to success is preparation: fresh staging, strong marketing, and pricing aligned with current conditions.

For buyers, the fall market presents opportunity. With more inventory and fewer bidding wars, well-prepared buyers who are pre-approved and decisive can secure excellent homes without the frenzy of years past.

While the market has cooled from its spring highs, Seattle remains fundamentally strong. The region’s economic stability, growing population, and long-term housing demand continue to support values—making Q4 a season for smart, strategic moves, not panic or retreat.

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