Source: Brennen Clouse | Seattle Real Estate
The Seattle real estate market in 2025 has been unpredictable, but signs point to overall health as we enter the second half of the year, according to local realtor Brennen Clouse.
Key Highlights:
Mortgage Rates: Rates have fluctuated but are currently at 6.67%—the lowest since early 2025. Lower rates have improved buyer affordability and are encouraging negotiations, especially with sellers offering credits to help buyers buy down rates.
Inventory and Listings: A surge in new listings peaked in May with nearly 1,900 homes added—more than any month in the past three years. This has led to increased competition for sellers, giving buyers more options.
Buyer Demand: While demand has dipped since spring, pending sales remain steady. In June, over 930 homes went under contract, comparable to recent years but below 2022’s peak.
Home Prices: Despite slower appreciation, average home prices have grown, reaching $1.117 million in June. However, some sellers are finding it challenging to sell at or above their original purchase price, especially those who bought during the COVID boom.
Days on Market: Homes are sitting longer than in red-hot years like 2022 but remain within typical seasonal averages—about 22–23 days in recent months.
Sale-to-List Price: Homes are selling at or slightly below list price—down from earlier months when they sold 1% above.
Outlook for Second Half of 2025:
Clouse predicts a continued healthy market. August may be quieter, offering opportunities for buyers to snag deals on longer-sitting listings. A seasonal bump is expected after Labor Day, especially if mortgage rates drop further toward 6.5%. Buyers are still active, and market activity is expected to stay strong through year-end barring major economic disruptions.
