Seattle Real Estate Market Update – August 2025
Seattle Real Estate Market Update: August 2025
Hello, Seattle homeowners, buyers, and investors! I’m Zach McDonald with Real Property Associates, here to give you a clear snapshot of the Seattle real estate market for August 2025. Whether you’re thinking of buying, selling, or just keeping an eye on local trends, this update will break down the latest numbers, trends, and insights to help you make informed decisions.
Seattle Housing Market Overview
After a busy spring and a slightly slower summer, the Seattle housing market is stabilizing. Inventory has been gradually increasing, but we’re starting to see signs that it’s leveling off. Seattle continues to outperform neighboring cities like Bellevue and Snohomish County, fueled in part by return-to-office trends that are driving city demand. Overall, the market remains balanced, offering opportunities for both buyers and sellers.
Mortgage Rates and Market Impact
Current mortgage rates are around 6.57% and have been trending slightly downward. While rates are not directly tied to the Federal Reserve, they are closely influenced by inflation and broader economic factors. If rates continue to drop, we could see an uptick in buyer activity. Lower rates improve affordability, making this an important factor for anyone considering buying or selling a home in Seattle.
Median Sales Prices
Seattle: $995,000, up 4.7% year-over-year
Bellevue: $1,874,975, up 6% year-over-year
Prices have been stable and gradually increasing, reflecting a balanced market. Homes in Seattle are generally selling slightly above the asking price, while in Bellevue, some homes are selling slightly below. These trends indicate steady demand across both cities.
Days on Market
Seattle: Average of 9 days, with some homes taking up to 20 days to sell
Bellevue: Average of 7 days, with some listings taking 24 days
While homes aren’t selling instantly, activity remains healthy. Buyers should be prepared to move quickly on desirable properties, especially as inventory continues to shift.
New Listings and Inventory Trends
Seattle: 898 new listings, up 21.7% year-over-year
Bellevue: 172 new listings, up 47% year-over-year
Although new listings are increasing, inventory growth is starting to slow. In Seattle, available homes are beginning to decline slightly, indicating a market moving toward balance. With months of supply around three or more, buyers and sellers are both entering a less extreme market than we’ve seen in the past.
Closed and Pending Sales
Seattle: 588 closed sales, stable year-over-year
Bellevue: 106 closed sales
Pending sales are showing encouraging growth: Seattle is up 27.8% year-over-year, and Bellevue is up 17.6%. This suggests that buyer activity is increasing as interest rates trend downward, signaling a healthy pipeline of future sales.
Market Outlook and Advice for Buyers and Sellers
As mortgage rates fluctuate, we may see a shift toward more buyer activity if rates continue to drop. Sellers can benefit from stabilizing prices and less downward pressure. Buyers should monitor interest rates closely, as timing can significantly impact affordability. While the market is never completely predictable, the current data provides actionable insights for both buyers and sellers in Seattle.
Conclusion
Seattle’s real estate market remains strong and balanced, with steady prices, manageable inventory, and healthy buyer activity. Whether you’re buying, selling, or just staying informed, now is a good time to watch interest rates and inventory trends closely.
