Seattle Property Insights: Latest Market Updates & Future Trends

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.

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 May

Spring is officially here, and Seattle’s housing market is gaining momentum. Inventory is finally increasing—with a 24% jump in new listings and 50% more homes on the market compared to last year. This uptick is creating more breathing room for buyers, especially in the $700K–$1.2M range, while sellers are still seeing strong offers thanks to sustained demand.

Condo prices are also climbing quickly, signaling renewed interest from first-time buyers and investors. Whether you’re buying, selling, or just watching the trends, May brings a more balanced and active market than we’ve seen in recent springs. Let’s dive into the numbers and explore what it means for your next move.

Sales Activity and Inventory Levels

As we move into May, Seattle’s housing market continues to show strength as we progress through the busy spring season. While buyer demand remains high, rising inventory is beginning to reshape the playing field, offering more options for buyers while still favoring well-prepared sellers.

The insights below reflect the most recent available data from April 2025 and earlier, helping you stay ahead of the curve in this fast-moving market.

Sales Activity Intensity™

The Seattle market continues to demonstrate healthy momentum. In April, pending sales remained strong, building on a 29.5% increase from February to March. Inventory levels in King County reached 1.86 months—still well below balanced market conditions, reinforcing the seller-friendly environment. This spring is offering more opportunity for buyers, but competition is still tight in popular price points and neighborhoods.

New Listings and Active Inventory

As of April, we saw a surge in new listings with 9,161 homes added in March—a 14.1% year-over-year increase and a 44.4% jump from February. Total active listings hit 11,640, which is up 43.7% from last year. In King County, active inventory was up nearly 60%. This expanding supply is welcome news for buyers who have been dealing with low selection over the past year.

Days on Market

Homes are still moving quickly. In April, the median number of days a home stayed on the market was just 9 days in Seattle. This reflects strong buyer demand, especially for homes that are priced appropriately and move-in ready.

Pricing Trends

Home prices in Seattle continue to rise steadily. In March 2025, the median sale price for single-family homes reached $857,000, a 1.4% increase compared to the same month last year. While appreciation has moderated from the double-digit growth we saw during the pandemic era, the market remains stable and attractive to long-term buyers.

Single-Family Residences

• Seattle’s single-family home market saw modest but consistent price growth through April, with strong interest from buyers looking to secure property before rates or competition increase further. Homes in the $800K–$1.2M range remain especially competitive, depending on neighborhood and condition.

Condos

• Condos continue to gain traction with both first-time buyers and investors. While April-specific condo pricing data is still being finalized, March trends showed condo prices up nearly 12% year-over-year, with activity centered in transit-accessible neighborhoods. Inventory has also grown, giving buyers a broader range of choices than we’ve seen in previous years.

In April, we’re reviewing the latest available market data from March 2025, when inventory in King County reached 1.86 months—still well within seller’s market territory, though slightly up from February. Buyer demand remained strong, with homes selling in a median of just 9 days. This continued trend of low inventory, steady pricing, and quick sales highlights the competitive landscape of Seattle’s spring housing market.

Market Outlook

As of May, Seattle’s real estate market remains active, competitive, and slightly more balanced than a year ago. Inventory growth is giving buyers more room to negotiate, while well-priced homes continue to sell quickly. Mortgage rates are holding around 6.74%, shaping affordability and buyer strategy. With the spring market in full swing, thoughtful pricing, prep, and negotiation are key for both sides of the transaction.

Advice for Buyers and Sellers

• Buyers: Seattle’s spring market is picking up speed, and well-priced homes are still selling quickly—many within just 9 days. To stay competitive:
  • Get pre-approved before you begin shopping to boost your buying power.
  • Act decisively on homes that meet your criteria, especially in popular neighborhoods.
  • Consider creative strategies like flexibility in closing dates or strong earnest money to stand out in multiple-offer situations.
  • Monitor interest rate trends and speak with your lender regularly to understand your financing options as the market shifts.
• Sellers: Inventory has increased since February, but demand is still strong—making this a prime time to list your home. However, with more choices available, buyers are becoming more selective:
  • Prep your home carefully—deep cleaning, minor repairs, and staging go a long way.
  • Use professional photography and a strong marketing strategy to make your listing shine online.
  • Price strategically to attract interest and encourage competitive offers.
  • Be prepared to move quickly—homes that are ready and priced right are still receiving strong attention, often with multiple bids.

As Seattle heads deeper into the spring market, both buyers and sellers can benefit from being strategic, informed, and well-prepared. Whether you’re hoping to buy your first home, move up, or cash in on equity, I’m here to guide you through every step. Let’s make this spring your season for success! 🌸🏡

Looking Back at Q1 2025

As the first quarter of 2025 wraps up, the Seattle real estate market continues to demonstrate strength and adaptability, with notable trends emerging from January through March. Despite economic headwinds and fluctuating mortgage rates, buyer activity remained strong and seller confidence began to rise with the onset of the spring selling season.

1. Market Activity & Home Sales: Q1 is typically a time when real estate activity begins to pick up after the winter slowdown—and this year was no exception. Seattle saw a 29.5% increase in pending sales from February to March, signaling a clear uptick in buyer demand. Homes sold quickly, with median days on market holding steady at just 9 days, reflecting a highly competitive environment where well-priced and well-presented homes moved fast.

2. Price Trends: Home prices continued their upward trend in Q1, with the median sale price in Seattle reaching $857,000 in March, a 1.4% increase year-over-year. This moderate but consistent growth highlights ongoing demand, especially for single-family homes in desirable neighborhoods. While mortgage rates hovered around 6.74%, buyers remained active—adjusting their expectations and leveraging rate buydowns and flexible financing to stay competitive.

3. Inventory Levels: Inventory began to rise in March, signaling the start of the spring market, but supply remains well below historical norms. King County had 1.86 months of inventory at the end of March—still a clear seller’s market. While new listings are up significantly compared to earlier in the year, the pace of buyer demand continues to outstrip supply in many neighborhoods. As we enter April, this modest increase in inventory gives buyers slightly more choice, though competition remains intense for well-priced homes.

4. Neighborhood Highlights: In Q1 2025, Seattle-area neighborhoods like Bothell, Shoreline, Ballard, West Seattle, and Northgate stood out for strong buyer demand. Bothell saw rising prices and multiple offers, while Shoreline remained attractive for its light rail access and spacious lots despite earlier price dips. Ballard and West Seattle continued to appeal to buyers seeking walkable, charming communities, and Northgate gained traction with its growing transit hub and affordability. These trends highlight a shift toward well-connected, lifestyle-focused neighborhoods offering long-term value.

5. Economic & External Factors: Mortgage rates hovered around 6.74% at the end of March, steady but still higher than pandemic-era lows. Despite this, Seattle’s job market remains strong, particularly in tech, biotech, and healthcare—supporting buyer confidence and driving continued market activity. Economic uncertainty and inflation concerns persist nationally, but local fundamentals in Seattle remain solid, helping to stabilize housing demand. Buyers are adapting with rate buydowns, creative financing, and more strategic home searches.

6. Looking Ahead: As we move into April and deeper into spring, market activity is expected to ramp up. Sellers who list now are entering a favorable window, with strong buyer activity and rising seasonal momentum. Homes that are well-prepared—professionally staged, priced strategically, and marketed effectively—are still receiving strong interest and multiple offers in many areas.

Buyers, on the other hand, should stay focused and get pre-approved to move quickly. With more homes hitting the market, opportunities are expanding—but competition for the best listings remains fierce.

Home For Sale Pending

• $628,000
• 2 bd
• 1 ba
• 930 sqft

2-Bedroom Home with Bonus Space and Future Growth Options in Seattle

Condo For Sale Pending

• $445,000
• 1 bd
• 1 ba
• 709 sqft

Modern Condo in the Heart of Capitol Hill

Home For Sale Pending

• $800,000
• 3 bd
• 2 ba
• 1610 sqft

The Artist’s Loft: 3-Bedroom Home in Kenmore, WA

Market Recap: Highlights from Fall & Winter 2024

October 2024:

• Market Activity: The market experienced a surge in new listings, with 1,566 homes entering the Seattle market—the highest since 2020. Despite this influx, inventory levels decreased from 2.5 to 2.3 months, indicating that buyer demand remained robust, absorbing the new supply.
• Price Trends: The median home price was approximately $850,000, reflecting a stable market with steady demand.
• Inventory Levels: Despite the increase in new listings, the strong buyer activity led to a decrease in overall inventory, highlighting the market’s competitiveness.

November 2024:

• Market Activity: The market experienced a surge in new listings, with 1,566 homes entering the Seattle market—the highest since 2020. Despite this influx, inventory levels decreased from 2.5 to 2.3 months, indicating that buyer demand remained robust, absorbing the new supply.
• Price Trends: The median home price was approximately $850,000, reflecting a stable market with steady demand.
• Inventory Levels: Despite the increase in new listings, the strong buyer activity led to a decrease in overall inventory, highlighting the market’s competitiveness.

December 2024:

• Market Activity: The market maintained its momentum, with continued buyer interest leading to quick sales.
• Price Trends: The average home value in Seattle reached $851,513, marking a 3.7% increase over the past year.
• Inventory Levels: The number of homes for sale increased, reaching the highest inventory levels since 2019, providing buyers with more choices.