Seattle Housing Market Update – November 18th, 2025

Seattle’s housing market is showing interesting trends as we move deeper into the fall season. Last month, Seattle reached a new median sales price record, surpassing even 2022 levels. While not every nearby city has rebounded to previous highs, Seattle’s combination of affordability and proximity to jobs is keeping it competitive.

Weekly Market Snapshot

From November 5th through 18th, King and Snohomish counties saw:

  • 396 new listings last week (down slightly from earlier in the month)

  • 479 price reductions, reflecting opportunities for buyers

  • 761 pending sales and 66 closings, showing strong buyer activity

  • 267 canceled listings, many of which are strategic relistings rather than permanent withdrawals

The market is in a typical seasonal slowdown, but inventory is gradually shrinking, setting the stage for more competition in winter and spring.

Mortgage Rates

Mortgage rates remain in the 6.25%–6.5% range for 30-year fixed loans, influenced by inflation concerns and 10-year Treasury movements. While rates are higher than early fall, they are still manageable for many buyers and have not dampened demand.

King County Trends

Pending sales over the last two weeks show:

  • Median sales price: $881,000

  • Multiple offers: 28% of listings (up from 21% earlier)

  • Escalation clauses: 7%

  • Financing addendums: 79%

  • Inspection contingencies: 51%

Competition exists, but many buyers are negotiating at or near the asking price rather than paying over it. Price reductions have created opportunities, and buyers are using contingencies strategically.

Snohomish County Trends

Snohomish County shows similar patterns:

  • Median sales price: $769,950 (up from $750,000 earlier)

  • Percentage of list price achieved: 98%

  • Multiple offers: 21%

  • Escalation clauses: 7%

  • Financing addendums: 85%

  • Inspection contingencies: Over 50%

New listings are attracting attention, especially compared to older listings that have been on the market for weeks or months.

What This Means for Buyers and Sellers

For buyers: This is a strategic time to shop. With price reductions and plenty of inventory, buyers can negotiate and prepare before the spring market heats up. Getting pre-approved and ready now can give you a competitive advantage.

For sellers: Listing now can help your property stand out against older listings, but waiting until after the New Year when inventory tightens is also a viable strategy. Either approach can be successful depending on your goals and preparation.

Summary

Seattle’s housing market remains active, with strong buyer demand, strategic price reductions, and manageable competition. King and Snohomish counties are seeing a seasonal slowdown, but opportunities exist for both buyers and sellers who understand current market dynamics.

If you’re looking to buy or sell in Seattle, now is the time to get informed and act strategically.