Local Market Update – June 2025 - Windermere Capitol Hill

Local Market Update – June 2025

May brought a wave of new listings to the Puget Sound area, pushing active inventory to its highest point since 2018. With more homes on the market, buyers are seeing more options than they have in years. While some are still taking a wait-and-see approach due to interest rates hovering around 7%, there are signs the market is settling into a more balanced rhythm. Price trends are beginning to level out, and the expanded selection could mean more opportunities for those ready to make a move.

What’s Happening in Seattle?

Seattle’s single-family homes saw a 5% year-over-year price increase, with the median reaching $1,010,650. Listings rose 44%, giving buyers more to choose from. Pending sales picked up by 8%, though closed sales fell 19%—a sign that some buyers are still holding back. For condos, prices dipped 4% to $573,250, and listings climbed 37%.

King County at a Glance

In King County, home prices edged down just 1% from last May, bringing the median to $989,000. Inventory grew significantly again, up 58%, but many buyers remained cautious. Pending sales dipped 1% and closed sales were down 14%. Condo prices also softened slightly (down 4% to $569,900), with a 57% increase in active listings.

Eastside Snapshot

The Eastside saw a noticeable shift, with the median residential home price dropping 4% year over year to $1,633,500. Inventory more than doubled (up 103%), yet buyer activity couldn’t quite keep up. Pending sales dipped 4%, and closed sales were down 18%. Still, homes that did sell moved fast—88% sold within 30 days. Condos followed a similar pattern: prices eased by 3% to $728,400, and active listings jumped a huge 129%.

Snohomish County Shows Steady Growth

Snohomish County stood out from the pack in May, with both pending and closed residential sales ticking up 1% year over year. The median price nudged up to $833,000, and listings rose 54%. With more homes hitting the market and prices holding steady, the area continues to be an attractive option for buyers seeking a bit more value. Condo prices did decline by 12% to $489,975, while inventory in that segment soared 118%.

What to Watch This Summer

Heading into summer, the spotlight is on how buyers respond to this growing inventory. Will more choices and softening prices pull folks off the sidelines? Economic conditions will continue to play a role, but one thing is clear: this is a market full of possibilities.

Thinking about buying or selling? Our team at Windermere is here to help you navigate the changing landscape with expert advice and a smile. Reach out anytime—we’re always happy to chat real estate!