Is Seattle a buyers or sellers market?
Seattle’s housing market of 2025 is a fast-paced, dynamic environment with open question, Is it a buyers or sellers market? But it’s not a yes or no question, as there are several factors that ultimately determine if it is a buyer’s or seller’s market including inventory, buyer demand, price points, economic conditions. This blog provides an in-depth look at Seattle’s real estate marketplace, detailing who currently has the upper hand and what it means if you’re in the market to buy or sell a home.
The Current Market Snapshot
As of early 2025, Seattle’s housing market has or recently had all the typical hallmarks of a seller’s market. Inventory is very low, sitting at only 1.6 months of supply. For context, a balanced market usually has around 4 to 6 months of inventory. Homes are moving fast, at just 1.6 months lag time, with sold median homes closing in an average of 29 days. Pair that limited supply with robust buyer demand, and it puts upward pressure on prices.
March 2025 average sale price rose to above $1 million ($1,019,569), up from $965,331 the month prior. Single-family home cost was $1,164,575 on average, and condos $705,492. In the past five years, home values have appreciated almost 23%, a testament to Seattle’s continued desirability and economic resilience.
Why Is It a Seller’s Market?
There are several key reasons why Seattle is seller-friendly:
Supply chronic under supply: There are not enough homes for sale. Even though the number of new listings ticked up a little, demand vastly exceeds supply.
High Buyer Demand: More than 57% of homes listed go pending within the first month, indicating motivated buyers who are prepared to move swiftly.
Manageable Mortgage Rates: Rates are holding steady around 6.7%, which, while high compared to historic lows, still incentivizes buyers to stay in the market.
Robust Economic Fundamentals: Seattle’s tech-fueled economy remains attractive to new residents, ensuring that the housing market remains competitive.
What Does That Mean for Buyers?
The environment is difficult for buyers, and success will require speed, preparation, and flexibility. Properties that fall just within the right range, between about $500,000 to $1.25 million, are particularly competitive, where more than half are heading toward pending sales within a month. Multiple-offer situations are common, and buyers often have to offer strong, clean bids, with pre-approval and even sometimes waived contingencies, in order to win.
For luxury buyers — those buying homes priced $1.5 million and higher — activity is a bit less frenetic but demand remains steady. For buyers, patience and strategic planning can help with navigating this high-pressure market.
What Does This Mean for Sellers?
That gives sellers the upper hand. Properties which are priced well and present well are attracting significant interest as homes in our area are selling quickly and for often more than the asking price (list-to-sale price ratio ~101.9%). Sellers benefit from:
Faster sales cycles
Guide Prices Driving Up The Final Sale Price
More appreciated equity, 5-year exit appreciation close to 23%
But sellers must price realistically and get their homes ready. Some listings are overpriced or poorly maintained, and those will languish or require price cuts.
The Role of Market Segments
Although the broader market is biased toward sellers, specifics vary:
Market SegmentCondition of MarketCommentsEntry to Mid-Range ($500K–$1.25M)Strong seller’s marketHigh competition, multiple offers are commonLuxury Market ($1.5M+)Seller’s market, but moving slowBuyers have become more selective, quality and location are important
What You Can Do Now to Take Advantage of This Market
Whether they are buying or selling, they should work with knowledgeable local experts. For sellers, staging, pricing and marketing are critical. And for buyers, getting pre-approved, keeping a close eye on listings and being prepared to pounce quickly can pay off.
It’s important to keep your home appealing in this frenzied market. Services such as Seattle Green Maids provide eco-friendly cleaning solutions to sellers who want to keep their homes in tip-top shape for showings, and can help homeowners stay sane while juggling busy schedules.
What to Watch: Is the Market Turning?
Low supply and demand demand are expected to ensure prices will rise steadily in Seattle housing as we move through 2025, experts predict. Although mortgage rates may vary, the overarching supply-demand imbalance indicates the seller’s market will continue in the short term.
Buyers and sellers should get ready for more competition and more price appreciation. For those who are planning to move, timing and strategy continue to be key.
Additional Resources
If your navigating Seattle’s real estate market, visit our website for market reports, expert advice and tools to make informed decisions.
Seattle in 2025 is, by all accounts, a seller’s market, propelled by low inventory, robust demand, and sound economic fundamentals. The competition buyers face is fierce, and they need to be ready to act decisively and tactically. Sellers are in a strong market, but must know how to price and present their homes in order to reap the most reward. As a buyer or seller, understanding these dynamics — and using trusted services such as Seattle Green Maids to keep your home in tip-top shape — can pay dividends in this fast-paced environment.
