Hi. I am Jeff Tucker, chief economist at Windermere Real Estate, and this is a local view of the data from August 2025 of the Northwest MLS.
This summer, the local market decided to benefit from buyers, because home sellers in Washington have had to contend with both mitigating demand and more abundant competing entries. That is good news for buyers from home, but we look less than we saw last year.
In August, the closed sale of housing was 6% under the total of August of last year, in the Northwest MLS. In anticipation of the turnover, which give some signal about next month’s turnover, were about 1% of the form of only 1% last year.
On the supply side we have passed a bending point, in which sellers start to withdraw from the market. There were 2% fewer New offers than last August-the’s first fall from the year after year in new entries since February. The month ended with 31% more active entries than last August, which marked a delay in stock growth of around 36% in the past two months. This withdrawal into the offer must reduce a floor under any potential price that the market shift could bring.
Speaking of this: the stable number about the Northwest MLS was an average selling price, which was exactly the same as last August: $ 665,000. That is two months in a row with flat annual price changes, but it remains about 5% higher than in 2023.
Now I will look at the four provinces of closer to the larger area of ​​Seattle.
The closed turnover fell by almost 6% of last year. Only Pierce County saw a win, albeit small, last August.
Median Sales Prices actually crawled up from last year in all 4 provinces: 4% higher in King; 7% higher in kitsap, 1% higher in Pierce and 1% higher in Snohomish County.
Looking ahead, pure Turnover fell by 1% in the region, although Pierce County was again the highlight for sales, with 9% more sales than last year.
On the supply side, the 4-province larger Seattle environment had 32% more active offers than at the end of August 2024. That remains the moderation of the stock growth that we have seen since May, when this metric reached a peak with a growth of 45% on an annual basis. King County is mainly balanced, a growth from 50% to only 32% active lists of growth.
Looking ahead, the most important question is whether buyers from the sidelines start to come in response to these more favorable circumstances: they have a lot of inventory to choose from, offers that have stayed on the market, and mortgage interest that have fallen from around 7% to 6.5% this summer. For people who are able to buy, this fall looks like a sweet place.
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