Northwest MLS January 2025 Market Snapshot – Key Insights
The Washington real estate market started 2025 with a surge in activity, giving buyers more options while sellers continue to see strong demand. Inventory is up significantly, which is great news for those looking to purchase, but rising interest rates and construction costs are making affordability still a challenge. If you’ve been on the fence about buying or selling, now’s the time to stay informed and strategize.
More Homes, More Choices
- Closed sales jumped 10.8% compared to last year, with 3,727 homes sold in January.
- 6,693 new listings hit the market, a 35.1% increase from 2024.
- Overall inventory grew 44.6%, giving buyers more selection than we’ve seen in years.
Prices & Affordability
- The median home price rose 3.6% to $615,000, with King, Snohomish, and San Juan counties topping the charts.
- Interest rates climbed to 6.95%, making affordability a growing concern.
- New construction homes are in demand, with sales up 17% and a median price of $760,500.
Buyer Activity is Heating Up
- Showings increased 57% from December, signaling growing interest.
- More homes qualify for down payment assistance, with 12,785 eligible listings—a 12% increase from last year.
- With more homes on the market and buyer activity picking up, 2025 is shaping up to be an interesting year in real estate.
As we move further into 2025, the market remains dynamic, with both opportunities and challenges for buyers and sellers. Whether you’re looking to enter the market, invest, or sell, staying informed is key.
