How’s the Market? Annual Real Estate Review for the Seattle Area
Brooke Davis January 14, 2025
Brooke Davis January 14, 2025
Happy New Year! Whew, we made it! With 2024 now in the books, we’re looking back fondly on a real estate market that showed positive signs of growth in virtually every sector. Median sales prices posted strong double-digit gains on the Eastside along with a healthy 8% rise in Seattle. Listings also rose, easing the strain for buyers grappling with our housing shortage.
If you’ve waited long enough and 2025 is the year for you to make a move, we recommend front loading that decision. Pent up demand (both sellers waiting to sell and buyers waiting to buy) should give us a spring full of blossoming and beautiful inventory. There is less volatility in interest rates than there has been in recent months, you’ll see that the average rate has been rock steady around 6.75% in 2023 and 2024. Overall, this is a great time to buy or sell and I am excited to help you!
Seattle | Eastside | Mercer Island | Condos | Waterfront
From a statistical/real estate perspective, the numbers don’t really reflect the overall vibe of the year. In a good way! It’s all positive news: prices are up, listings are up, and market time is down. The City of Seattle is in full recovery mode. Homeowners are awaiting the new density plan and eager to learn what the city has in store for the core neighborhoods around transit. It’s an exciting time. Median sold price city-wide reached a record $945,000 (modest, as that is $5000 above the previous record set in 2022) and homes sold for an average 104% of list price when they attracted a sale in the first 10 days (58% of the total sales).
Lake Forest Park and Madison Park saw the greatest price gains at 11% and 12% respectively. North Seattle was over all the “strongest” with 66% of homes selling in the first 10 days and 70% of homes selling for at or above list price. There was a modest gain in new listings across the board at 8769, while still lower than typical. The ten-year average is around 10,500 listings per year. No bad news here with average price per square foot gains of 5% to $564!
Click here for the full report and neighborhood-by-neighborhood statistics!
Seattle condo sales are up 8% over Q4 2025, an incredible seasonal boost.
Offer to host an event in the near future so that you have a deadline to work toward.
Selling a home is a numbers game: the more potential buyers, the greater chance of an offer.
Nature-inspired colors continue to dominate the palette but are moving deeper and more saturated.
Here are some of the most impactful ways to invest in your home before putting it on the market.
Across the Greater Eastside, 5,458 homes sold during the year, down 5% compared to 2024.
Mortgage rates should remain below 6.25% for most of 2026 and could briefly dip under 6%.
If you buy a house with rental-capable space (extra bedroom, mother-in-law unit, etc.
Once you’ve checked all the boxes, you’ll be well on your way to maximizing the value of your property.
Her passion is helping clients achieve their homeownership goals, from a home seller looking to upgrade or relocate to a first-time buyer and a seasoned investor looking to build their financial portfolio. Brooke will guide and advocate for you through the entire process from beginning to end. Contact her today!
