Rising Prices and Tight Inventory Illustrated in the Latest Numbers

Seattle Real Estate Update: Rising Prices & Tight Inventory Keep Sellers in Control

Seattle’s real estate market remains strong as we enter March 2025. Despite interest rates holding at 7.05%, buyers continue to move forward, adapting to market conditions as competition begins to pick up ahead of spring.

With inventory at just 1.7 months, sellers still have the upper hand. Home prices have risen to an average of $946,653, reflecting steady demand even as the average time on the market increases to 49 days. However, nearly 40% of homes are selling within the first 30 days, highlighting continued competition, particularly in sought-after price ranges.

While 1,285 new listings entered the market, only 396 homes went under contract, leading to a slight inventory increase. However, this shift isn’t enough to tip the scales in favor of buyers, keeping Seattle’s housing market firmly in seller-friendly territory.