Seattle’s housing market remains competitive, with single-family home prices averaging $1.08M in January 2025, up 38.5% from five years ago.
Condos averaged $683K, reflecting similar growth. Homes continue to sell near asking prices, with a 98.9% list-to-sale ratio.
Active listings surged 34.1% year-over-year in August 2024, reaching 15,453, though closed sales remained steady. Mortgage rates fell to 6.35%
in August after peaking at 7.22% in May, easing some affordability concerns.Recent developments include HomeStreet Bank selling $990M in loans to Bank of America and Seabrook partnering with Windermere Real Estate for a $1.5B expansion.
While demand remains strong, rising mortgage rates could slow price growth.
Sources: HomeProAssociates.com, AOL.com, SeattleAgentMagazine.com, Reuters.com, BizJournals.com
