Seattle Housing Market Update: Early December Inventory Drops Create Buyer Opportunities

As we head into December 2025, the Seattle housing market is following its familiar seasonal rhythm. Every year, new listings slow dramatically during the holidays, and this year is no exception. Thanksgiving week brought a steep decline in listing activity across King and Snohomish County, pushing inventory levels even lower and creating unique opportunities for buyers willing to act before the spring rush.

New listings in King and Snohomish County combined dropped to just 144 this past week, down from 315 the week before. With fewer sellers listing and some homeowners even pulling their properties off the market until January, inventory continues to tighten. At the same time, buyers are still writing offers—444 pending sales this week compared to just 144 new listings—which further accelerates the shrinking supply.

For buyers, this seasonal slowdown is creating pockets of negotiability. Price reductions reached 210 this week, and in King County, the average list-to-sale-price ratio dipped to 96%, a meaningful shift from the consistent 98% we saw throughout the fall. Multiple-offer scenarios have also cooled significantly, dropping to just 16% of sales. This means buyers are finding more room to negotiate, request repairs, and secure favorable terms before competition intensifies again in early 2026.

King County’s active inventory now sits at 1,667 homes—far below the 3,868 available at the end of October—while Snohomish County ended November with 734 active listings compared to 1,530 a month prior. Both counties saw steady median home prices week over week, with King County at $855,000 and Snohomish County around $715,000 to $738,000. Interest rates continue to hover at 6.3%, adding stability even as inventory fluctuates.

Snohomish County remains slightly more competitive than King County, with 8% of homes receiving multiple offers and 3% including escalation clauses. Still, both counties show significantly less competition than we typically see outside the holiday season, making this an advantageous moment for buyers to step in before demand surges in February and March.

For sellers, patience may pay off. With inventory projected to tighten even further through December, the market is expected to shift back toward sellers after the new year. Listing in January or February could mean stronger buyer demand and higher sale prices.

Whether you’re buying or selling, understanding these seasonal patterns can help you make a smarter move in today’s shifting Seattle housing market. If you’re preparing for a purchase or planning to list in 2026, now is the perfect time to strategize.