Local Market Update – April 2025

Tulips are blooming, the days are growing longer, and the housing market is showing clear signs of seasonal momentum. Inventory continued its steady rise in March, with all four markets posting double-digit year-over-year gains in new listings. Condo inventory saw especially sharp increases — a continuing trend partly driven by the growing appeal of non-traditional “condo” alternatives like townhomes, ADUs, and backyard cottages. Whether these inventory gains will ease affordability remains to be seen as interest rates, trade dynamics, and broader economic forces continue to shape the path ahead. 

In March, King County’s median residential sold price rose 3% year over year, increasing from $945,500 to $977,500. Active residential listings jumped 50%, giving buyers a wider range of options. However, closed residential sales only grew by 3%, potentially reflecting ongoing economic uncertainties in the market. In the condo segment, the median sold price increased 9% from $540,000 to $590,000, while active listings surged 77% — signaling a notable shift in supply and buyer opportunity. 

Seattle’s median residential sold price reached $1 million in March — an 8% increase from $925,000 in March of last year. Despite the rise in prices, market activity accelerated: pending sales were up 12% compared to a year prior, while active listings climbed 31%. Seattle’s condo market also gained momentum, with the median sold price increasing 7% to $627,650, up from $587,500. Active condo listings grew 55%, helping supply the high demand for more affordable options.   

On the Eastside, the median residential sold price in March rose just 2% year over year – from $1,682,500 to $1,710,000 – a modest gain by Eastside standards. After months of steady price appreciation, affordability may be emerging as a limiting factor, with closed sales down 8% compared to March of last year. Inventory, however, continues to rise: active listings were up 86%, giving buyers more choices and potentially more negotiating power. Meanwhile, the Eastside condo market remained a standout — the median sold price rose 16% annually, and active listings were up 119%, perhaps giving buyers some relief in segment that has grown increasingly competitive. 

In Snohomish County, the median residential sold price rose 4% in March compared to last year, from $760,000 to $790,000. Active residential listings surged 79% year over year, offering buyers more selection in a market that is increasingly popular for its relative affordability. Closed and pending residential sales inched upwards, growing 4% and 1%, respectively. In the condo market, the median sold price rose 3%, from $515,000 to $529,994, while active listings more than doubled, jumping 104%. This influx of inventory provides welcome opportunities for first-time buyers and downsizers alike.  

As the region moves deeper into spring, all eyes are on how rising inventory and renewed buyer interest will influence competition and pricing. While more listings bring opportunity, the pace of the market remains brisk — and navigating it with confidence takes up-to-the-minute insights. For expert guidance tailored to your goals, connect with connect with me anytime for personalized guidance and real-time market insights by texting or calling 425-495-0926 or emailing me using ginam@windermere.com.

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