Realogics Sotheby’s International Realty has released its Market Trends From Around the Sound report, diving into the most relevant, enlightening market data for 13 of the Puget Sound region’s communities. As always, the quarterly examination presents helpful year-over-year data comparisons for everything from median sales prices, average days on market, supply levels, and more. As we continue through the busy spring selling season, where we historically see an uptick in both buyer and seller activity, it’s important to take a look at the area’s distinct markets and how they’ve performed so far in 2025.
I’ve witnessed these hotter conditions firsthand as three of my sellers’ listings over the past couple of months have received multiple offers upon hitting the market. Inventory is moving fast, so let’s stay ahead of the curve. Now is the time to use the fair weather to your advantage as you make repairs and beautify your landscaping for increased curb appeal, strategically price your home, and get it on the market while buyers are motivated.
However, before we look forward to exciting real estate plans, let’s take a moment to look back for a better understanding of market conditions. In the first quarter of 2025, the Seattle single-family market saw price growth, with a 9.63% year-over-year increase in median sales price to $1.025M. The city’s median sales price has experienced growth for the past three Q1s, and the average sales price has also increased across the past three years. Supply levels continue to prove challenging for buyers searching for their home in Seattle, and although it was still technically considered a seller’s market, it was up from Q1-2024’s 1.6 months of supply to 2.2 months. Homes spent an average of 34 days on the market, which means that although buyers contended with less inventory, they still were not pressured to make fast purchases as they searched for their ideal Seattle residence.
The Seattle condominium market, notable for offering everything from more affordable housing options to lock-and-leave luxury residences, has also witnessed steady price growth across the past Q1s. The median sales price increased 12.07% year-over-year to $613,000 in Q1-2025. Although there are very few new construction condominium opportunities available in Seattle, the resale market managed to offer a healthy amount of inventory with 3.7 months of supply—making it a neutral or balanced market. In fact, the biggest difference between Q1-2024 and Q1-2025’s data points was in the number of listings for sale, which jumped 60.49%. More homes sold in Q1-2025 compared to Q1-2024, increasing 16.76% year-over-year from 370 homes to 432 homes.
Even amidst major market obstacles, like high mortgage rates, and larger factors like a change in administration and economic turbulence, buyers and sellers who navigated the Seattle market still managed to find success. As always, the best way you can prepare for a sale or purchase is to enlist the help of a trusted advisor. I’d be happy to discuss the market data with you and plan how we can best utilize it in your own real estate journey. Reach out to me today to take the first step.