April 8, 2025
As we wrap up the first quarter of 2025, the Seattle and Eastside housing markets are holding firm, but subtle shifts hint at a new season for both buyers and sellers. While median home prices continue to climb, inventory is increasing, giving buyers a bit more breathing room—even as interest rates remain steady around 6.7%.
The Eastside remains one of the most competitive markets in the region, with a median sale price of $1.71M, up 2% year-over-year. Nearly 80% of homes sold within 15 days, and 53% sold over asking price, underscoring continued demand. However, with inventory up 86% compared to last year, we’re starting to see the early signs of a market gradually rebalancing.
Noteworthy Trends:
Months of Supply: 1.1 months (up from 0.6 a year ago)
Pending Sales: 623 (up 4% YoY)
Closed Sales: Down 8% YoY
Seattle’s market also shows resilience, with the median price hitting $1M, an 8% increase from last year. Inventory climbed by 31% YoY, and homes are still moving quickly—71% sold within two weeks. Though affordability remains a challenge, buyer activity is staying strong, especially in the $750K–$1.5M range.
Noteworthy Trends:
Months of Supply: 1.2 months
Pending Sales: 658 (up 12% YoY)
Closed Sales: 497 (up 4% YoY)
Even with minor declines in interest rates (down to 6.7%), monthly mortgage payments have increased. On the Eastside, the average monthly payment now hovers around $10,978, while in Seattle it's closer to $6,420. These numbers reflect a broader affordability squeeze, especially when compared to median household incomes.
Active Listings, Pending Sales, and Months of Supply
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