Seattle, WA
Housing Market
The landscape of Seattle's housing market evolves with shifting home prices and demand. Houzeo's housing market report tracks these changes in supply and demand across Seattle. Our report offers real-time insights to help you make informed decisions.
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Buy or SellSeattle Housing Market Overview
Seattle real estate shows modest but steady growth in early 2025. Home prices increased 0.7% year-over-year to reach a $851,000 median price. In February, 626 homes were sold, up 0.6% from last year. Houses for sale in Seattle now sell in just 9 days, two days faster than in 2024. These metrics confirm that Seattle remains a strong seller's market. Buyers face competition despite the relatively small price increases.
The housing market in Seattle is a mix of luxury high-rise condos, single-family homes, and historic properties, with options across budgets and lifestyles. Over the years, the city has experienced steady property value appreciation, with demand fueled by population growth, a booming tech industry, and strong rental yields. Seattle's real estate market continues to be a key driver of Washington State's economy. Known for its beautiful waterfront views, vibrant cultural scene, and proximity to major tech hubs like Amazon and Microsoft, the city attracts both domestic and international buyers. Sellers can offer concessions to attract serious buyers and speed up the sale.
The housing market in Seattle is a mix of luxury high-rise condos, single-family homes, and historic properties, with options across budgets and lifestyles. Over the years, the city has experienced steady property value appreciation, with demand fueled by population growth, a booming tech industry, and strong rental yields. Seattle's real estate market continues to be a key driver of Washington State's economy. Known for its beautiful waterfront views, vibrant cultural scene, and proximity to major tech hubs like Amazon and Microsoft, the city attracts both domestic and international buyers. Sellers can offer concessions to attract serious buyers and speed up the sale.
Median Sale Price
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Seattle Housing Supply
Homes for sale in Seattle WA increased substantially to 1,180 available properties. This represents a significant 25.7% growth in Seattle housing inventory year-over-year. The real estate market in Seattle Washington added 883 new listings recently. This reflects a modest 2.8% increase in fresh inventory entering the market. The Seattle housing supply currently stands at 1.9 months citywide. This figure increased slightly by 0.4 months but remains well below balanced conditions.
However, Seattle offers an appealing lifestyle with a mix of urban convenience and a mild, yet rainy climate, which drives its cost of living up. Home prices are well above the national median. If you're buying a home in Seattle right now, you will face high competition in all neighborhoods. Popular areas like Capitol Hill and Ballard, with their strong infrastructure, robust public transport, and proximity to downtown tech companies, are among the best places to live. However, you may have to pay HOA fees for common areas in apartments and condos. Residents are willing to pay these prices, despite the high cost of living. As a buyer, you should take time to thoroughly inspect potential properties before committing. Request seller concessions or wait for the market to soften if you can.
However, Seattle offers an appealing lifestyle with a mix of urban convenience and a mild, yet rainy climate, which drives its cost of living up. Home prices are well above the national median. If you're buying a home in Seattle right now, you will face high competition in all neighborhoods. Popular areas like Capitol Hill and Ballard, with their strong infrastructure, robust public transport, and proximity to downtown tech companies, are among the best places to live. However, you may have to pay HOA fees for common areas in apartments and condos. Residents are willing to pay these prices, despite the high cost of living. As a buyer, you should take time to thoroughly inspect potential properties before committing. Request seller concessions or wait for the market to soften if you can.
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Seattle
Seattle Housing Demand
Seattle real estate demand remains robust despite slight market adjustments recently. Homes in Seattle Washington sold above the list price in 34.7% of cases. This represents a minor 0.48 percentage point decrease from last year. Price reductions occurred on 22.30% of Seattle housing listings citywide. This shows a marginal increase from 22.10% of homes last February. The sale-to-list price ratio reached 102% for Seattle houses. This key metric increased by 0.9 points year-over-year, indicating strengthened demand.
As a home seller in Seattle, if you price your house accurately from the start, you can avoid the need for price reductions. Offering concessions to buyers can help you sell quickly, especially if the competition is fierce. You can list your home on the Washington MLS to reach a wider pool of buyers. If the sale-to-list price ratio is around 100% and demand is high, expect to receive multiple offers. If you're buying a house in Seattle, focus on homes that have been on the market for extended periods or have previously undergone price reductions, as these properties may offer more room for negotiation.
As a home seller in Seattle, if you price your house accurately from the start, you can avoid the need for price reductions. Offering concessions to buyers can help you sell quickly, especially if the competition is fierce. You can list your home on the Washington MLS to reach a wider pool of buyers. If the sale-to-list price ratio is around 100% and demand is high, expect to receive multiple offers. If you're buying a house in Seattle, focus on homes that have been on the market for extended periods or have previously undergone price reductions, as these properties may offer more room for negotiation.
Homes Sold Above List Price
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Strong
Buyer
Buyer
Balanced
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Strong
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Seattle Housing Market: When to Buy or Sell?
Seattle's housing market has historically cycled between buyer-friendly and seller-friendly conditions. Like the Washington real estate market, the Seattle housing market can favor both buyers and sellers based on seasonal trends. When competition is low and inventory increases, buyers have more negotiation opportunities. Conversely, sellers can benefit from higher prices and quicker sales when demand outpaces supply.
Moreover, if the months of Seattle's housing supply rise above the balanced conditions of the US real estate market (5 to 6 months), it may give buyers more time to consider their options. Understanding these market forces can help you time your purchase or sale strategically.
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Frequently Asked Questions
How have median home prices in Seattle changed over the past year?
In February 2025, the median price of a home in Seattle increased by 0.7% compared to the previous year, reaching a median price of $851,000. This moderate growth occurred despite challenging market conditions and limited inventory. Seattle continues to maintain its position as one of the 10 most expensive cities in the country. You can check your home's fair market value with our free home value estimator and compare it with the nearby sales.
What are the Seattle housing market predictions for 2025?
The average house price in Seattle will continue to grow and outshine the Washington market. The prices rose by 0.7% YoY in February 2025, and demand has held strong in Seattle. Experts forecast continued growth in Seattle housing demand in 2025, which will keep the prices high and the inventory tight.
What's the average home cost in Seattle?
The average house price in Seattle varies depending on the type, size, and local market conditions. It typically ranges from $530,000 for condos to $1,100,000 for single-family homes. If you dream of buying a home, you can find cheap homes for sale in Seattle, within your budget.
Is the housing market going down in Seattle?
It's implausible that the Seattle housing market will crash. Prices are projected to experience sustained growth through 2025. Seattle's housing demand will witness strong growth given the competitive nature of this market.
Is this a good time to buy a home or sell a home in Seattle?
You must check for real estate trends in Seattle regarding housing prices and inventory. Sellers can benefit from high demand and rising prices. However, if the mortgage rates are stable and there is plenty of housing inventory, that's the best time to buy a house in Seattle.
How is the housing market right now in Seattle?
The housing market in Seattle surpasses national performance through price gains and strong competition. Limited supply and high demand in Seattle drive market prices above national averages.
What are the steps to buying a home in Seattle?
The steps to buying a home in Seattle must start with a clear budget and mortgage pre-approval. Buyers should then search for homes for sale in Seattle WA, submit offers, secure loans, and complete the closing process.
How can I list my house for sale in Seattle WA?
Sellers can list houses for sale in Seattle on Washington-based MLS using flat-fee services. A Flat Fee MLS listing company in Washington can help you save on traditional Realtor fees. Houzeo helps you save at least 3% on listing agent commissions.
What is the average mortgage rate for buyers in Seattle?
The average mortgage rate for buyers in the Seattle housing market fluctuates between 6% to 6.83%. It depends on the market and the borrower's credit score. Always check current rates with lenders.
What is the average cost of living in Seattle?
The average cost of living in Seattle is significantly higher than most other cities at 45% above the national average and 24% above the Washington state average. Housing costs are the biggest factor at 112% higher than the national average. You can check specific neighborhood details using our free cost of living calculator for Washington, WA.
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