July 2025 Greater Seattle Market Recap: More Listings, Stable Prices, and Buyers Still Cautious
As we wrapped up July 2025, we saw some clear signals that the local housing market is shifting — but not in the way many expected.
The 30-year fixed mortgage rate stayed steady at 6.72%, basically flat from where it's hovered most of the past year. This stability helped keep median home prices level compared to July 2024, with the median sales price landing at $650,000 across the board — no year-over-year change. But while prices held steady, inventory and activity picked up.
Key Takeaways from July 2025:
🔹 Inventory Surge
There were 37% more active listings compared to last year — that’s over 20,000 homes on the market. More choices for buyers, and perhaps, more competition for sellers.
🔹 More New Listings
Over 10,400 homes hit the market last month — a 12% jump year-over-year, although slightly fewer than we saw in June.
🔹 Closed Sales Rose
Sales crept up modestly — up 3.8% from July 2024, and up slightly from June.
🔹 Showings and Activity
Buyers are out there. Showing activity ticked up over June, and keybox access was up 8% from last year, indicating growing buyer interest despite high rates.
🔹 Down Payment Help is Growing
Nearly 72% of all homes listed were eligible for down payment assistance, a great resource that many buyers don’t realize is available.
What This Means for You
With inventory growing and prices holding steady, it’s an opportune time for buyers who were waiting for more options. Sellers still benefit from stable pricing, but proper pricing and strategic prep (like staging!) will be key in this more competitive environment.
The market isn’t cooling off — it’s rebalancing. Whether you're planning to buy, sell, or just stay informed, I’m here to help you navigate it confidently.
