March 2025 Market Update – A More Personal Look at What’s Happening
As we step into spring, the real estate market across the Greater Seattle area is starting to pick up momentum—just like we usually see this time of year. But it’s not your typical spring surge. The market is trying to find its rhythm, and there’s still a bit of a mismatch between eager buyers and cautious sellers.
One of the biggest headlines? Inventory is finally climbing. Active listings across the NWMLS area jumped nearly 44% year-over-year, with notable increases in King, Snohomish, and Whatcom counties. Sellers are clearly starting to take advantage of the seasonal shift, giving buyers more options than we’ve seen in months.
Another positive shift: Mortgage rates dipped slightly, from 6.76% to 6.65%. It’s not a huge drop, but it’s helping some buyers re-enter the search. Still, prices continue to tick upward, with the median sales price hitting $649,999 in March. That’s a 3.2% jump from February and a 2.6% increase compared to this time last year.
Here’s What You Need to Know:
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Active Listings:
11,640 homes were on the market at the end of March—up from 10,448 in February and up 43.7% year-over-year. King County alone saw a 59.8% increase. -
New Listings:
9,161 new homes hit the market in March, which is 44.4% more than February. -
Closed Sales:
5,406 homes closed—up 4.7% from March 2024 and 26.7% from February 2025. -
Median Price:
Up to $649,999. The most expensive counties were San Juan ($870K), King ($855K), and Snohomish ($755K). -
Buyer Activity:
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Showings jumped 25.5% month-over-month
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Lockbox access increased by 4.3% since February
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Final Thoughts
We’re seeing signs of life and movement in the market, but affordability is still a hurdle for many buyers. That said, more listings + lower rates = better opportunities if you’re ready to make a move. If you're thinking about buying, selling, or just want to talk strategy—I'm happy to help.
