In November, all four of our regions saw year-over-year growth and month-over-month declines in the number of active listings. While a seasonal dip is normal for this time of year, the annual increases in inventory levels are notable. Rising supply is playing a central role in moderating prices and creating a more balanced market environment. Ultimately, the long-term impact of this added housing stock will depend on whether buyers are able to overcome the still-high prices and re-engage the market.

KING COUNTY

Last month, King County’s median price for a single-family home fell 1% year over year, from $925,000 to $915,000. Compared to November 2024, the number of active listings jumped 35%. Closed sales didn’t keep pace with inventory levels, declining 13% from last year and 24% since October. For King County condos, the median sold price dropped 10% to $507,880, and active listings grew 16%.

SEATTLE

Seattle was the only one of our four markets to experience a year-over-year price increase, albeit a modest one. The city’s median residential sold price inched up 1% in November, from $968,000 to $973,500. Active listings advanced 32% year over year but saw a typical seasonal drop of 19% month over month. Closed sales dipped 11% compared to 2024. Seattle’s median condo price remained flat at $573,500, while active listings increased 21%.

EASTSIDE

On the Eastside, the median price for a single-family home decreased 7% year over year, from $1,537,312 to $1,430,000. Active listings were 73% higher than last November. Although more homes were on the market, the increase in supply wasn’t matched by sales activity. Pending sales rose 10% year over year, but closed sales sank 17%. Condos, a more affordable alternative to the Eastside’s seven-figure single-family home prices, saw annual price growth of 9% to $750,000, as buyers continued to look for lower-cost options.

SNOHOMISH COUNTY

In Snohomish County, the median residential sold price edged down 4% to $750,000 in November, dropping from $784,975 a year earlier. Active listings increased 39%. Despite more supply, buyer activity softened: closed sales fell 16% year over year, and pending sales dipped 6%. In the county’s condo market, the median price contracted 9% year over year to $485,000 and active listings climbed 51%.

As the holidays get underway, the real estate market is settling into a state of balance. Year-over-year gains in supply are influencing pricing and giving fresh options for the buyers still out there. The combination of seasonal patterns and shifting conditions ahead of the busy spring market may create opportunities for both buyers and sellers. In a continually evolving real estate landscape, the expert guidance of a Windermere agent remains essential.

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As the year moves further into fall, all four of our local regions remain balanced. Rising inventory and easing interest rates are having a measured impact on affordability, creating a steadier environment across the Puget Sound. With supply elevated and prices holding relatively firm, both buyers and sellers are adjusting to a more even playing field. How the market evolves through winter will depend largely on interest rate trends and broader economic confidence.

KING COUNTY 
King County saw 4% annual price growth in October, with the median sold price for single-family homes rising from $960,000 to $997,000. Inventory remained strong, up 33% year over year, though it dipped 7% month over month as some sellers paused ahead of the seasonal slowdown. Sales activity was mixed: pending transactions fell 11% annually and 10% from September, while closed sales were down 8% year over year but rose 12% month over month, reflecting a slower pipeline of new deals but solid follow-through on earlier summer contracts. In the condo segment, the median price dipped 2% to $550,000, while active listings climbed 13%.

SEATTLE 
Seattle’s market remained active in October. The median residential sold price climbed 8% year over year to $1,049,999, up from $972,500. Active listings grew 21%, offering buyers more selection. Still, pending sales fell 5% from last year and 9% from September, suggesting measured buyer engagement despite growing supply. Meanwhile, closed sales increased 7% annually and 29% month over month, signaling that demand remains solid for well-priced listings. Median condo prices held steady at $577,562, with inventory up 13%.

EASTSIDE 
The Eastside’s median sold price for single-family homes held flat at $1,550,000, unchanged from October 2024. Inventory continued its sharp year-over-year rise, up 76% annually, but down 8% from September, as sellers stepped back for the slower season. Buyer activity softened: pending sales declined 14% year over year and 19% month over month, though closed sales rose 7% from September, hinting that demand remains steady for competitively priced homes. In the condo market, prices edged up 1% to $746,701, while active listings expanded 22%.

SNOHOMISH COUNTY
In October, Snohomish County’s median residential sold price fell 5% year over year to $770,000, as inventory surged 39%. Buyer activity slowed across both timelines: pending sales declined 8% annually and 9% from September, while closed transactions were down 9% from last year. In contrast, the condos market saw modest gains, with prices rising 3% to $525,000 and listings jumping 53%, giving buyers increased choice at more accessible price points.

With mortgage rates at their second lowest level since November 2024 and inventory still well above last year’s levels, both local and national markets continue to stabilize. Sellers are becoming more flexible, buyers are gaining leverage, but affordability remains a challenge for many. As winter sets in, the pace of new listings will naturally slow, but declining rates and broader selection may keep the market moving for those ready to act. As market conditions evolve, a trusted Windermere advisor can provide real-time pricing strategies and personalized guidance.

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