Seattle Real Estate Market Update – September 2025
Seattle Real Estate Market Update – September 2025
As summer winds down in Seattle, the housing market is showing signs of transition. While many believe summer is the peak of real estate activity, historically, spring has been the most competitive season. Spring offers the perfect balance of active buyers and available listings, leading to fierce competition and multiple offers. By summer, more homes hit the market, but buyer activity slows slightly, creating a more balanced environment.
This year, higher interest rates have played a role in slowing the market. For much of 2025, mortgage rates hovered around 7%, and while inflation and Fed rate concerns persisted, recent economic indicators have sparked optimism. Job reports and inflation data suggest potential rate cuts ahead, which could positively influence the housing market as we head into fall and winter.
The past few months saw housing inventory rise, leading to more price reductions and longer selling times. Sellers, naturally, prefer quick sales at top price, while buyers benefit from increased options and negotiation opportunities. One recent client experience illustrates this perfectly: a family who had lived in their Everett home for nearly 30 years successfully sold their updated home after careful pricing adjustments, highlighting the market’s current pace.
Mortgage rates have recently dipped into the 6.25% range, making now an attractive time for buyers to enter the market. Daily updates from sources like Mortgage News Daily provide insight into fluctuating rates, with the 30-year fixed mortgage remaining the most common benchmark.
Seattle Housing Stats – September 2025:
Median Sales Price: $975,000 (up 5.4% YoY)
King County Median: up just over 2% YoY
Bellevue Median Sales Price: $1,770,000 (down YoY)
Average Percent of List Price: Seattle at 100%, Bellevue at 99.1%
Median Percent of Original List Price: Seattle 98.9%, Bellevue 97.2%
Median Days on Market: Seattle 12, Bellevue 10
New listings continue to increase, with 680 in Seattle and 128 in Bellevue, both up year-over-year. Pending sales are now catching up to the influx of listings, suggesting a more stabilized market. Current supply levels are moderate: 2.5 months in Seattle and 2.7 months in Bellevue. This balance favors buyers with more options, while sellers may need to adjust expectations or price strategically to attract offers.
Earlier in the year, competitive conditions pushed homes over asking price, particularly in spring. Now, sales are closer to list price, reflecting a market that is leveling off. With interest rates potentially dropping further and fewer new listings entering the market as we approach winter, we could see increased competition in the coming months, making it an exciting time for buyers and sellers alike.
Whether you’re considering buying, selling, or investing in Seattle real estate, understanding these trends is crucial. The market is showing signs of stabilization and opportunity, making strategic planning more important than ever. If you’re ready to navigate Seattle’s dynamic real estate landscape, reach out for expert guidance tailored to your goals.
