Seattle Housing Market Update – October 14, 2025

The Seattle housing market is entering its typical fall slowdown, but buyers still have opportunities as inventory gradually declines. Here’s a snapshot of King and Snohomish County trends over the past two weeks.

Market Inventory

New listings in King and Snohomish Counties have started to trickle off, with 663 homes coming on the market compared to 720 a couple of weeks ago. This seasonal decline is typical for mid to late October, following a strong September push. Despite fewer listings, price reductions remain high at 611 homes, indicating that some properties are taking longer to sell, often around 30 days on the market.

Pending Sales and Competition

Pending sales are starting to slow slightly, with 737 homes under contract compared to 817 at the end of September. Some homes remain unsold due to pricing or unique property factors, while well-priced homes continue to attract buyers.

In King County, 24% of pending offers had multiple offers, with 10% including escalation clauses. Financing addendums were included in 72% of contracts, and 45% had inspection contingencies. These numbers suggest a slight decrease in buyer competition compared to the end of September but overall stability in the market.

Snohomish County shows slightly different trends. Homes sold for an average of 102% of the asking price over the past two weeks, with a median sales price of $749,000. Multiple offers affected 21% of pending sales, and 8% included escalation clauses. Financing addendums increased to 81%, while inspection contingencies slightly decreased to 48%. Overall, Snohomish remains less competitive than King County, but certain properties are driving up prices due to strong buyer interest.

Mortgage Rates and Market Stability

Mortgage rates have slightly decreased to 6.31% from 6.37% a few weeks ago. While lower rates are attracting some buyer interest, the market is more influenced by supply and demand than rates alone. Compared to the spring, when rates were higher, competition was actually more intense due to limited inventory. Today, stable inventory levels are keeping the market steady and housing prices close to or above 2022 levels.

What This Means for Buyers and Sellers

For buyers, the next few weeks are one of the last opportunities to access the current level of inventory before the winter slowdown. Limited listings and ongoing competition for well-priced homes mean strategic buying is crucial.

Sellers should note that pricing remains key. Homes priced appropriately are likely to sell quickly and close to the asking price. Properties requiring multiple price reductions may linger longer on the market.

Looking Ahead

As we move further into fall and approach the winter months, listings will decline sharply. Holidays and seasonal factors will limit new inventory, which could increase competition among buyers despite fewer overall transactions. The market is expected to remain stable, with well-priced homes continuing to attract interest.

Stay informed on Seattle housing trends to make the most of the current market. Whether buying or selling, understanding seasonal shifts, inventory, and competition is key to achieving your real estate goals.