June has arrived, and Seattle’s housing market is finally showing signs of balance—or at least a decent attempt at it. After a frenzied spring sprint, buyers are getting a little more breathing room thanks to 2,006 new listings and a bump in inventory to 2.5 months. It’s still a seller-leaning market, but the grip is loosening just enough to let buyers actually think before they write an offer.

Sales Activity Intensity dipped to 44.6%, sliding out of “Very Strong” and settling into a slightly more manageable pace. That means homes are still moving—but not in the blink-and-it’s-gone frenzy we saw just months ago. Meanwhile, mortgage rates hover around 6.95%. Not thrilling, not terrifying—just consistent. And in real estate? Consistency is underrated.

This month’s update picks up where we left off in May, keeping The Madrona Group’s format intact while delivering fresh, no-fluff insight. Whether you’re thinking about jumping into the market or just want to keep tabs on your neighborhood’s value, we’ve got the goods.

Sales Activity Indicator: Still Competitive, But Cooling From Spring's Sprint

Seattle’s market might not be sprinting anymore, but it's still in pretty decent running shape. In June, 44.6% of resale homes went pending within the first 30 days—a step back from May’s 50.1%, but still comfortably in “Very Strong” territory. The market's pulse is still there—it’s just not racing like it was in April.

With 2,006 new listings hitting the Seattle market this month, buyers finally have options—glorious, negotiable, maybe-even-priced-below-peak options. More homes means less pressure to pounce in 24 hours, and it shows: homes are averaging 25 days on market, and it now takes around 12 showings to get to pending, down from 14 last month. So yes, things have chilled… slightly.

But let’s not pretend it’s sleepy out there. Homes are still selling at 100.9% of list price, which means competition is alive and well for properties that show up looking sharp and priced right.

📌 What This Means
For Buyers: The days of instant regret after missing “the one” may be fading, but the best homes still move fast. Line up that pre-approval and act when it feels right.
For Sellers: The game has changed. You can still win big—but only if you prep, price, and present like a pro. This isn’t an “overprice and pray” season anymore.

Monthly Inventory Levels: Buyers Get a Breather, But It’s Still Tight

Seattle’s housing supply made its biggest jump in months—2.5 months of inventory, up from 2.1 last month. That’s the most breathing room buyers have had since pre-pandemic, and it’s making a noticeable impact.

June brought more than just warmer temps—2,917 homes were actively for sale, and that inventory bump is giving buyers just enough slack to think before they leap. Still, with a “balanced” market not kicking in until 4–6 months of inventory, we’re far from flipping the script.

Homes that are dialed in with pricing and presentation? Still flying. Listings that miss the mark? Starting to sit. The market’s no longer rewarding “aspirational” pricing.

📌 What This Means
For Buyers: You’ve got a little more time to breathe, but don’t get too comfortable—especially under $1M. Homes that check the boxes still draw a crowd.
For Sellers: The time to sell is still now, but the bar is higher. Stage it. Price it. Market it. A well-executed listing will still sell fast—and likely with strong terms.

Interest Rates: 6.95% – High, But Holding the Line

If mortgage rates were a song, they’d be “Steady as She Goes.” June’s average came in at 6.95%, which technically counts as stable these days. It’s not dreamy, but after the chaos of 2022–23, buyers are adjusting to this new normal with surprising ease.

There’s no rate shock, no panic—just recalibration. Buyers are getting creative with rate buydowns and flexible financing. And sellers? They’re stepping up with concessions to keep deals alive without cutting price.

📌 What This Means
For Buyers: You may not love the rate, but you can work with it. A good lender and a smart agent can help tailor a monthly payment that fits.
For Sellers: Want attention? Offer a rate buydown. It’s cheaper than a price drop and way more enticing.

Overall Market Trends: More Listings, More Choices, Still a Seller’s Edge

Seattle’s market is doing something it hasn’t done in years—acting kind of normal. Listings are up, price reductions are back, and buyers are finally catching their breath. But don’t get it twisted—well-priced homes are still selling fast, and for sellers who play their cards right, this is still a strong market.

Average resale home: $1,027,969
Average time to sell: 25 days
Sales-to-list price: 100.9%

📌 Key Takeaways
For Sellers:
✔ The window is still wide open—more listings are coming, so beat the late-summer crowd
✔ Prep is everything—don’t skip staging, marketing, or pricing strategy
✔ Offer smart incentives instead of price cuts

For Buyers:
✔ Be ready to act—but know you’ve got options now
✔ Clean, compelling offers still win
✔ Use rate tools to your advantage—ask your agent how

Pricing vs. Historical Pricing: A Market That’s Still Holding Its Ground

While some buyers are hoping for a discount season, the numbers tell a different story—Seattle home prices are holding strong, even after five years of market twists, turns, and rate rollercoasters.

Let’s break it down:

🏡 Residential Resale

• June 2025 Avg. Sale Price: $1,027,969
• June 2020 Avg. Sale Price: $1,059,099
• Net Change: -2.9% over 5 years

Resale prices have dipped slightly from the 2020 peak, but considering the interest rate spikes and pandemic-fueled volatility, this market has shown remarkable resilience. It’s more of a plateau than a plunge.

🧱 New Construction

• June 2025 Avg. Sale Price: $965,522
• June 2020 Avg. Sale Price: $1,033,816
• Net Change: -6.6%

New builds have seen the sharpest pullback in pricing, as builders adjust to buyer sensitivity around monthly payments. But in return? Buyers are scoring better deals and incentives than we've seen in years.

🏢 Condos

• June 2025 Avg. Sale Price: $683,180
• June 2020 Avg. Sale Price: $664,227
• Net Change: +2.8%

Condos have not only held their value—they’ve gained some ground. As more buyers get priced out of detached homes, the urban condo scene is quietly gaining momentum again.

Rent vs. Buy – The Great Debate

Average 3-bed rent in Seattle: $3,825/month
Monthly mortgage on a $700K home (20% down @ 6.95%): Roughly the same.

📌 If you're staying put for 3+ years? Buying is still your better bet. You’re building equity and locking in a fixed payment—not handing your future to your landlord.

What About The Fed?

Still no big drops expected until late 2025. The Fed’s got its eyes on inflation, which means we’re likely floating in the 6.5–7% mortgage range for a while.

📌 Don’t hold your breath for 5% rates. By then, home prices might be up another 10%.

Seasonality Check-In: The Spring Surge Is Fading... Slightly

June is prime time—buyers are active, inventory’s up, and serious deals are getting done. But come July? Expect the heat to turn literal and market momentum to chill a bit as summer distractions set in.

📌 Sellers: List now, not later. You’re in the sweet spot.
📌 Buyers: Don’t snooze on this season. Waiting could mean facing higher prices—or more competition come fall.