Current Effect:

Seattle’s housing inventory now sits at 1.8 months, up slightly from February’s 1.7 months — but still deep in seller’s market territory. Translation? If no new listings came online, Seattle would run out of homes to sell in just 54 days. For a major metro, that’s extremely tight.

In March, the market saw:

• 🏡 1,116 new listings

• 📈 805 homes went pending

• 🛒 667 homes sold

This blend of rising listings and strong pending activity signals a market that’s heating up fast. Buyer confidence is clearly on the rise, boosted by slightly lower interest rates and that unmistakable spring energy. The competition is fiercest in the $500K–$1.25M sweet spot — where 54% of homes are going pending within the first 30 days. That’s strong Sales Activity Intensity™, teetering just below Surge territory.

Meanwhile, the luxury market ($2M+) is seeing steady — albeit slower — traction. High-end buyers are laser-focused on quality: top school districts, killer views, ADUs, and energy-efficient upgrades are what’s getting attention.

Why Does Low Inventory Matter?

📉 Inventory under 3–4 months = low
📈 Tight supply + strong demand = upward price pressure

Even with rates around 6.74%, buyer urgency is keeping the pace fast and prices stable — or climbing.

Key Takeaways:

📌 For Buyers:
Speed still wins. While the average days on market is 29–38 days, hot homes in desirable neighborhoods and price bands are getting multiple offers in a flash. Pre-approval, strong terms, and flexibility can help tip the scales in your favor.

📌 For Sellers:
You’ve got the edge. With low competition and solid buyer demand, especially under $1.5M, now is the time to list. Homes priced over $2M will need strategic marketing and presentation — but there’s still a strong buyer pool for well-positioned properties.

Current Effect:

In March 2025, 54% of homes in Seattle went pending within the first 30 days — a sharp leap from February’s 39.3%. That officially pushes us into Surge territory, signaling strong demand, fast-moving buyers, and a market shaking off its winter slowdown.

This acceleration is powered by early spring energy, slightly lower mortgage rates, and a welcome uptick in new listings. Buyers aren’t hesitating — especially in the hot zone of $500K–$1.25M, where competition is fierce and multiple-offer situations are increasingly common.

In the luxury segment ($1.5M–$2M), around 51% of listings also went pending within 30 days — proof that high-end buyers are still active, particularly in sought-after areas offering great schools, views, and lifestyle perks.

The takeaway? Buyers are willing to move fast and bid strong — but only for the right home. Well-priced, move-in ready listings are getting scooped up, while homes that miss the mark on price or presentation are sitting longer and facing markdowns.

Key Takeaways:

📌 For Buyers:
Be ready. Half of the homes hitting the market are gone within a month. If you’re shopping in a competitive price range, get pre-approved, monitor new listings closely, and have your offer game tight. The window to act is short — and shrinking.

📌 For Sellers:
You’ve got the momentum — if your pricing and prep are on point. Homes with strong curb appeal, smart upgrades, and realistic pricing are moving quickly, sometimes above asking. Even in the luxury bracket, lifestyle-driven features like smart tech, EV charging, and killer outdoor spaces are pulling serious buyer interest. Just don’t get greedy — today’s buyers are sharp, and overpricing will stall momentum fast.

Current Effect:

The average sale price for homes in Seattle in March 2025 rose to $1,019,569, up from $965,331 in February — a strong month-over-month gain that reinforces the market’s resilience. Even in a higher interest rate environment, persistently low inventory and strong buyer demand are continuing to apply upward pressure on prices.

By Property Type:

• 🏠 Single-Family Homes: $1,164,575

• 🏢 Condos: $705,492

Five-Year Appreciation:

Looking back to March 2020, when the average Seattle home price was $829,693, overall home values have jumped 22.9% over five years — a testament to the market’s durability through economic shifts.

• 🔹 Single-Family Homes: Up 26.7% (from $919,064 to $1,164,575)

• 🔹 Condos: Up 27.3% (from $554,065 to $705,492)

Whether you're a homeowner or hoping to become one, those numbers speak for themselves: Seattle real estate continues to be one of the strongest long-term investments in the region.

Pricing Dynamics:

• 💰 List-to-Sale Price Ratio: 101.9% — homes are still selling over asking, especially in that hot $500K–$1.25M range.

• 📈 Correctly priced, move-in ready homes are drawing multiple offers, while overpriced or outdated listings are lagging behind.

Key Takeaways:

📌 For Sellers:
Seattle’s housing market continues to reward well-positioned properties. With nearly 23% appreciation in five years, your equity gains are real — and growing. For best results, focus on pricing smart, highlighting modern features, and launching with strong marketing from day one.

📌 For Buyers:
The market isn’t waiting, and history shows that “time in the market” beats “timing the market” every time. Even with today’s rates, locking in a purchase now means building equity for the future. Bonus: You’re buying into a market with a proven appreciation track record, whether you’re going condo or single-family.