Local Market Update – August 2025 - Windermere Capitol Hill

Local Market Update – August 2025

July Sees Stabilizing Prices, But Sales Still Lag Across Puget Sound

July brought a shift toward balance in the housing market. Prices across the region started to even out compared to last year, but that didn’t spark a wave of sales. Why? Buyers are playing it cool. With more homes to choose from and less urgency, many are happy to wait, watch, and negotiate for the right fit—on their terms.

And let’s be real: the days of 3% mortgage rates are likely in the rearview mirror. Higher borrowing costs are making it harder for some folks to jump in, even with more options available. For sellers hoping to attract serious buyers, flexibility and smart pricing will be key. As for what comes next? That’ll depend a lot on interest rates, confidence in the economy, and whether fall brings a new wave of motivated movers.

Seattle Snapshot: Buyers Are Back—But Still Picky

Seattle’s market found a bit more rhythm in July. Listings were up 19% from last year, and buyers stepped in—pending sales rose 18%, the biggest jump in the region. That boost nudged the median single-family home price up 4% to $1,010,000, with most homes (81%) selling in under a month.

Condos told a slightly different story: more listings (up 29%) and a small price dip (down 2% to $550,000), giving city buyers a little more wiggle room to make a deal.

King County: Prices Hold Steady, Inventory Climbs

In July, King County’s housing market stayed steady. The median single-family home price stuck at $1,000,000—unchanged from last year—while inventory surged 43%, giving buyers more to choose from. Sales activity was mostly flat, but well-priced homes still moved fast: 76% sold within a month.

Condos followed suit. Prices held at $530,000, and listings jumped 41%, opening more doors for first-time buyers and downsizers alike.

Eastside: More Homes, More Wiggle Room for Buyers

The Eastside saw a major inventory boost in July—listings jumped 90%, hitting their highest point since 2011. With so many options, buyers had the upper hand. Home prices dipped 2% to $1,580,000, and more than 60% of sales happened below list price or after a price cut. Pending and closed sales were both down, showing a slower pace overall.

Condos held steady at $629,000, while listings surged 84%, adding even more choices for buyers looking in this area.

Snohomish County: A More Balanced Market Takes Shape

Inventory in Snohomish County shot up 48% in July, giving buyers a lot more breathing room. The median price for single-family homes dipped slightly by 2% to $805,000, while sales activity stayed mostly flat. It’s starting to feel like a more balanced market, where negotiation is back on the table.

The condo scene saw even bigger shifts—listings soared 83%, and prices dropped 5% to $529,975, offering more opportunities for budget-conscious buyers.

Looking Ahead: A Market in Motion

July's numbers show a market that's still finding its footing. Prices are starting to level out, and inventory keeps rising—but many buyers are still in wait-and-see mode. For those thinking about jumping in, there’s more selection and room to negotiate. For sellers, standing out means being flexible and pricing wisely.

Thinking about your next move?
Whether you’re ready to buy, sell, or just have questions, our Windermere team is here to help. With local know-how and a personalized approach, we’ll guide you every step of the way.