Despite a wet and windy holiday season, buyers remained active in December. According to NWMLS data, showings and keybox usage increased by 3% and 6% year over year, respectively. Active listings saw double-digit percentage increases across all four markets compared to the previous year, providing buyers with more options. As is typical, there was a seasonal decline in active sales from November, likely as sellers delayed listing their homes until spring in anticipation of a busier market. With the new year underway, new listings are expected to ramp up as we approach spring selling season.

King County’s median residential sold price rose 3% year over year to $875,000 in December but dropped 5% from November’s $925,000, reflecting seasonal softening in competition and creating opportunities for buyers. Active residential sales increased 21% year over year, while closed residential sales climbed 13%. Meanwhile, December’s median sold price for King County condos fell 2% from the previous year, declining from $537,000 to $525,000. A 31% surge in closed condo sales compared to a year earlier points to strong buyer activity in this segment, likely driven by affordability concerns amid high interest rates.

In Seattle, single-family homes saw the median sold price rise 6% year over year to $898,900 in December, highlighting continued demand in the region. However, a 7% price drop from November suggests the typical winter slowdown influenced the market. Following the same trend, active and pending residential sales both fell 33% month over month. Still, active residential listings rose 12% compared to the year prior, signaling overall healthier inventories. Seattle’s condo market also saw notable shifts, with active listings jumping 41% year over year, though they decreased 28% between November and December. Median condo prices dropped 6% from the year prior to $550,000, likely due to higher inventory levels and increased buyer choice.

The Eastside continues to see robust real estate prices, with December’s median residential sold price climbing 7% year over year to $1,545,000. Active residential listings rose 22% from the previous year, offering buyers more selection, though closed and pending sales both dropped 7%. This decline in sales activity could reflect affordability challenges and the seasonal slowdown. The Eastside condo market performed particularly well, with the median sold price increasing 10% year over year to $695,000. Closed condo sales surged 54% compared to December 2023, underscoring strong demand in this segment. However, a 69% increase in active condo listings from the prior year suggests that supply is catching up to demand, potentially leading to more balanced market conditions as the year progresses.

Snohomish County’s residential market saw impressive growth in December, with the median sold price rising 15% year over year to $789,950. Active home listings climbed 34% from a year earlier, giving buyers broader options. While pending sales dropped 10% compared to December 2023, closed residential sales increased by 10%, showing that buyers remained engaged despite high interest rates and rising prices. The county’s condo market experienced a dramatic 108% year-over-year increase in active listings. However, closed and pending sales struggled to keep pace, pointing to increased competition among sellers for buyer attention. Even so, the median sold price for condos rose 5% year-over-year to $549,975, indicating continued demand for well-priced properties.

As buyers and sellers adapt to the ongoing impact of higher interest rates, the spring market is likely to bring both opportunities and challenges. Rising inventory levels may influence buyer demand and pricing strategies in the months ahead. To understand the forces at play in today’s real estate landscape, reach out to a Windermere advisor for real-time advice and tailored strategies.

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Introduction: A Movement, Not a Trend

In 2025, over 61 million Americans co-own a home¹ with someone who isn’t their spouse—nearly 20% of the population.

Co-buying and co-ownership aren’t just alternatives; they’re essential paths to modern homeownership. Today, 30% of all US home sales are to co-buyers²—a transformative shift in how Americans approach housing.

Co-ownership offers an accelerated path to wealth creation, but without proper tools, it can become a minefield of financial, relational, and legal challenges. On average, co-owner groups say they need help with six major aspects of managing joint homeownership. Learn more.

More about CoBuy:

• CoBuying a Home: How Does it Work?
• COBUY SUCCESS STORY: Amber & Nate’s West Seattle Beauty
• COBUY SUCCESS STORE: Mom & Daughters Buy Home Together
• COBUY SUCCESS STORY: Sisters Buy & Sell their First Home Together

As the holidays approach, we’re in a season known for a natural slowdown in real estate market activity. While month-to-month declines in active listings and closed sales are expected at this time of year, these fluctuations don’t suggest a downturn. In fact, last month saw an increase in year-over-year closed sales, signaling a healthy market with sustained demand. Looking ahead to the winter months, many homeowners will begin preparing their properties for spring listings, and with interest rates remaining lower than a year ago, demand from buyers should remain strong.

In November, King County’s median residential sold price rose 4% year over year, climbing from $885,500 to $925,000. While the number of active residential listings was 14% higher than at the same time last year, it fell by 25% from October’s level, largely due to seasonal market shifts. Pending residential sales dropped 31% from the previous month but remained 15% higher than a year prior. King County condos saw a year-over-year price increase of 17%, with a median sold of $565,467. The number of active condo listings was also 49% higher than last year, giving first-time homebuyers new opportunities in this segment of the market.

Seattle’s November median residential sold price inched up 3% year over year, reaching $968,000. However, this level remained roughly flat compared to last month. The number of closed residential sales jumped 22% from the same time last year, demonstrating a notable increase in buyer activity. Active residential listings rose 13% from a year prior, but dropped 26% from October, aligning with expected seasonal trends. Meanwhile, Seattle’s condo market experienced a significant boost in inventory this November, with 32% more active listings than at the same time last year. Perhaps due to buyers having more choices this year, the median sold price for condos slipped 1%, down to $574,950.

On the Eastside, the number of active residential listings dropped by 27% month over month but finished November 1% higher than a year ago. Single-family homes sold for a median price of $1,537,312, reflecting a 10% year-over-year increase. The number of closed residential sales jumped 23% compared to the same time last year but decreased 20% from October. Eastside condos also saw a 10% year-over-year price increase, with the median sold price reaching $685,000, though this was down from $740,000 in October. The month-over-month decline may reflect the significant 77% increase in the number of active condo listings compared to last year, giving buyers more options.

Snohomish County experienced an 8% year-over-year increase in the median sold price of a single-family home in November, rising from $725,000 to $784,976. The number of active residential listings declined 22% month over month, likely due to seasonal changes, but still finished the month 12% higher than a year ago. Closed residential sales surged 30% year over year, while pending sales climbed 16%, signaling increased buyer demand and a robust market. Snohomish County condos also posted gains, with the median sold price rising to $535,000, up 3% from last year. At the same time, active condo listings jumped 51% compared to a year prior, providing buyers with more opportunities.

November’s hot/cold market trends mirror patterns we saw a year ago, suggesting that Q1 of 2025 could once again bring rising prices. As we look ahead, it will be interesting to see how higher asking prices and shifting interest rates shape opportunities for buyers and sellers in the coming months. For help navigating these market fluctuations, connect with your Windermere broker for expert insights and up-to-the-minute advice.

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