Washington State’s real estate market is experiencing moderate price growth, increased inventory, and varying dynamics across regions. Here’s a detailed overview:
🏠 Washington State Housing Market Overview
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Median Sale Price: In April 2025, the median home price in Washington was $663,100, reflecting a 1.4% increase year-over-year.
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Homes Sold: A total of 7,684 homes were sold in April 2025, marking a slight 0.75% decrease compared to the previous year.
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Median Days on Market: Homes spent a median of 15 days on the market, up by 1 day from the previous year.
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Inventory Levels: Active listings increased by 19.1% year-over-year, with 26,945 homes for sale in April 2025.
🌆 Seattle Housing Market Snapshot
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Median Sale Price: In April 2025, Seattle’s median home price was $910,000, a 3.4% increase year-over-year.
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Average Resale Price: By May 2025, the average residential resale price in Seattle rose to $1,053,527, up from $1,019,569 in March.
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Homes Sold: A total of 834 homes were sold in April 2025, a 5.0% increase from the previous year.
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Median Days on Market: Homes in Seattle sold after a median of 7 days, consistent with the previous year.
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New Listings: Seattle saw 915 new listings in April 2025, a 29.2% increase from April 2023.
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Seller Concessions: Approximately 71.3% of sellers in the Seattle metro area offered financial concessions in early 2025, up from 36.4% the previous year.
🔮 Market Outlook
Washington’s housing market is expected to continue its gradual growth through the remainder of 2025. The increase in inventory provides buyers with more options, while the moderation in price growth suggests a cooling from the competitive market of previous years. However, affordability remains a concern, especially with mortgage rates stabilizing in the 6.3%–6.6% range.