February 2025 Snapshot:
February 2025 kicked off with an active real estate market across the Greater Seattle area. While buyers were eager to make a move, low inventory kept competition fierce—especially as we head into spring. Sellers continued to hold the advantage, but more homes were expected to hit the market in the coming months, which could bring some much-needed balance.
Right now, inventory remains tight at just 1.7 months. In February, 1,149 new listings came on the market, but only 721 homes went pending, showing just how selective buyers are being. Even with more inventory expected, well-priced homes in desirable areas are moving fast—often within days and with multiple offers.
The average home price in the Greater Seattle area sits at $946,653, with price growth slowing but not dropping significantly. In Bellevue, competition has already ramped up. I recently worked with buyers who fell in love with a home, and we knew we had to act quickly. With multiple offers already on the table, we strategized and secured the home for them—proving that the right approach can make all the difference in this market.
Interest rates are holding around 7.05%, and while they fluctuate, buyers are locking in their rates now to maximize affordability. Every fraction of a percent can impact what they qualify for, making strategic timing crucial.
As we move into spring, I expect competition to remain strong, but opportunities will be there for those who are prepared. Whether buying or selling, having a plan in place is key. If you’re thinking about making a move, now’s the time to start strategizing!
