August 2025 Market Update – What You Need to Know
The August numbers are in from Northwest MLS, and they’re painting a pretty clear picture of where our market stands right now: more homes are hitting the market, but buyers are moving a little slower.
Here’s a quick snapshot:
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Inventory is up. We saw a 30.8% increase in listings compared to last year, which means buyers have more options than they’ve had in quite some time. That said, compared to July, inventory dipped slightly (-2.7%).
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Sales are slowing. Closed sales were down 7.7% month-over-month and 5.7% compared to last year. This slowdown was most noticeable in King and Snohomish counties.
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Prices are holding steady. The median home price stayed flat at $650,000 compared to July, and it’s only up 0.8% year-over-year—showing that sellers aren’t seeing big jumps, but buyers aren’t seeing price drops either.
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Rates are easing (slowly). Mortgage rates ticked down slightly in August, hovering around 6.56% for a 30-year fixed loan by the end of the month. While the Fed is expected to cut rates later this year, it’s still unclear how much that will impact long-term mortgage rates.
What this means for you:
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Buyers: More inventory means more choices and a little less competition than we’ve seen in the past few years. If you’ve been waiting for the “right time,” this could be it.
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Sellers: Homes are still moving, but it’s important to price strategically and present your home well since buyers have more to choose from.
Overall, the market feels balanced—neither heavily in favor of buyers or sellers. It’s a time where preparation and strategy matter more than ever.
👉 Curious how these numbers affect your buying or selling plans? I’d love to walk you through the details for your specific area.
