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Washington Housing Market: Sales Rise While Prices Slip

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  Published in House and Home on Monday, December 8th 2025 at 11:01 GMT by KIRO-TV

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Washington Housing Market: Sales Rise While Prices Slip

A recent report from the Washington State Association of Realtors (WSAR) has revealed a mixed picture for the state’s real‑estate scene. While the number of homes sold has climbed in the past month, the median sale price has dipped, signaling a shift in the market’s equilibrium. The WSAR’s data, combined with insights from industry experts and regional trends, suggest that Washington buyers are finding more inventory at slightly lower price points, a development that could benefit buyers but puts sellers in a position of negotiating more carefully.

1. Rising Sales Volume Amidst a Cooling Price Trend

According to the WSAR’s latest snapshot, Washington saw a 12‑percent increase in home sales compared with the same period last year. The figure includes all property types, from single‑family homes and condos to townhouses and larger family residences. The uptick in sales volume coincides with a slight drop in the median sale price—the benchmark price for a typical property—which fell from $460,000 to $447,000 over the past month.

The WSAR notes that the drop, while modest, is enough to indicate a shift in buyer sentiment. “A price dip often signals that buyers are taking advantage of an inventory surplus, giving them more bargaining power,” said WSAR President Melissa O’Connor. “Sellers need to be prepared to adjust expectations, especially in the highly competitive Seattle and Tacoma markets.”

2. Inventory Dynamics: More Homes, More Choices

One key driver behind the price dip is the increasing inventory. The state’s active listings grew by 7 percent, giving buyers a broader selection. Inventory in the Greater Seattle area, in particular, has risen sharply, with a 15‑percent uptick in active listings in the city’s central neighborhoods. In the South Puget Sound, Everett’s inventory climbed by 12 percent, while Spokane’s saw a smaller increase of 4 percent.

The WSAR’s data shows that homes have been on the market for longer: the average days on market (DOM) climbed from 28 days to 32 days. “When a home stays longer, sellers are more inclined to lower prices or offer concessions,” O’Connor explained. “This trend is most pronounced in high‑density markets where the competition is fierce, but inventory has begun to outpace demand.”

3. Regional Variations: Seattle, Tacoma, Spokane, and Beyond

• Seattle: While sales rose by 14 percent, median prices fell by 5 percent. The city’s luxury segment, in particular, has seen the sharpest decline, with high‑end listings averaging $1.2 million down to $1.1 million.

• Tacoma: Similar to Seattle, Tacoma experienced a 10‑percent rise in sales and a 3‑percent drop in median price. The city’s burgeoning tech workforce has attracted buyers, but the price dip suggests a balance between supply and demand.

• Spokane: The Inland Northwest remains a relatively stable market. Sales increased by 8 percent, while median prices dipped by only 1 percent, reflecting a steadier supply‑demand equilibrium.

• Everett: With its growing industrial base and proximity to the airport, Everett saw a 12‑percent increase in sales. The median price fell by 4 percent, as buyers leveraged the new inventory for more favorable deals.

The WSAR’s report highlights that the price drop is most pronounced in the upper‑tier market, where buyers are willing to pay a premium for amenities and location. Lower‑tier markets, meanwhile, have experienced more modest price adjustments.

4. The Influence of Interest Rates and Economic Context

The report also contextualizes the price shift within the broader macroeconomic landscape. Mortgage rates, which recently climbed from 3.5% to 4.2% for a 30‑year fixed loan, have dampened buyer enthusiasm. “Higher borrowing costs make a high price less palatable,” said John Ramirez, a real‑estate economist at the University of Washington. “Even buyers with strong financial profiles might hold off on making offers above market value.”

In addition to rates, the state’s job market remains robust, with Seattle’s tech sector continuing to expand. However, the rising cost of living—especially in the Seattle‑Tacoma corridor—has made the market more price‑sensitive. The WSAR notes that while employment is strong, wages have not kept pace with housing cost inflation, further tightening the market for first‑time buyers.

5. What This Means for Buyers and Sellers

• Buyers: The market now offers a broader selection of homes at slightly lower price points. With inventory increasing and DOM lengthening, buyers may find more opportunities for negotiation. “It’s an excellent time for buyers to lock in a mortgage rate and to be prepared to act quickly when a desirable home becomes available,” O’Connor suggested.

• Sellers: With prices dipping and inventory rising, sellers may need to reassess their pricing strategies. “In a market that’s leaning towards buyers, pricing competitively from the outset can prevent extended DOM and eventual price reductions,” said Carlos Hernandez, a Seattle‑based broker.

• Agents: Real‑estate professionals should emphasize value propositions beyond price, such as renovation potential, school district quality, and proximity to amenities. “In a price‑tight environment, a compelling narrative about a home’s future can be just as effective as a lower listing price,” Hernandez noted.

6. Looking Forward: The Next Quarter

The WSAR anticipates that the next quarter will continue to see moderate growth in sales volume with steady or slightly lower median prices. Key factors influencing this trajectory include:

• The trajectory of mortgage rates; any further hikes could dampen demand.
• Construction activity; if new developments lag, inventory will remain constrained.
• Economic signals; inflation and employment figures will shape buyer confidence.

The WSAR will release a quarterly update on sales trends and price movements, which buyers and sellers alike will watch closely.

7. Sources and Further Reading

• Washington State Association of Realtors (WSAR) – Quarterly Housing Market Report
• University of Washington – Real‑Estate Economics Department – Mortgage Rate Analysis
• KIRO 7 News Coverage – Washington Housing Market Trends

Conclusion

Washington’s housing market is showing a classic “buyer’s market” trend: more homes are available, sales are climbing, but prices are slipping. The data suggests that while demand remains solid—particularly in key urban centers—price sensitivity is on the rise due to higher mortgage costs and a balanced supply‑demand equation. Buyers can capitalize on longer DOM and increased inventory, while sellers should consider competitive pricing and value‑added selling strategies. As the state’s economy continues to grow, the housing market will likely maintain its dynamic equilibrium—making it an exciting time for all parties involved.