Northwest Multiple Listing Service (NWMLS), the source for the most current, accurate market listing data in Washington state, today released its Market Snapshot for August 2025.

Market Recap

In August, both active listings and home sales declined compared to July—by 2.7% and 7.7%, respectively—across the 27 counties in the NWMLS coverage area. This slowdown was largely driven by weaker activity in King and Snohomish counties. Compared to the same time last year, listings rose by 30.8%, but sales fell by 5.7%, indicating continued stagnant buyer demand. Median home prices remained flat month-over-month and increased just .8% year-over-year.

August 2025 Key Takeaways

Active Listings

  • There was a 30.8% increase in total number of properties listed for sale year-over-year, with 20,219 active listings on the market at the end of August 2025, compared to 15,453 at the end of August 2024. When compared to the previous month, active inventory decreased by 562 listings (-2.7%), down from 20,781 in July 2025.
  • The number of homes for sale year-over-year increased throughout the NWMLS coverage area, with 25 out of 27 counties seeing a double-digit year-over-year increase. The six counties with highest year-over-year increases in active inventory for sale were Ferry (+63%), Snohomish (+50.1%), Jefferson (+47.3%), Clallam (+46.3%), Columbia (+45.8%), and Thurston (+38.9%).

Closed Sales

  • The number of closed sales decreased by 5.7% year-over-year (6,341 in August 2025 compared to 6,727 in August 2024). When compared to the previous month, the number of closed sales decreased by 7.7%, down from 6,867 sales in July 2025.
  • 15 out of 27 counties saw a decrease in the number of closed sales year-over-year, while 9 saw an increase, and 3 showed no change. The six counties with the largest increases were Clallam (+16.3%), Okanogan (+16.1%), Grant (+11.5%), Lewis (+8.3%), Island (+7.9%), and Douglas (+5.1%).

Median Sales Price and Total Dollar Value

  • The median sales price for residential homes and condominiums sold in August 2025 was $650,000 — a slight increase of .8% when compared to August 2024 ($645,000). Compared to the previous month, the median price remained unchanged ($650,000 in July 2025).
  • The three counties with the highest median sale prices were San Juan ($1,050,000), King ($875,000), and Snohomish ($755,000), and the three counties with the lowest median sale prices were Ferry ($250,000), Columbia ($319,000), and Grays Harbor ($323,500).
  • The total dollar value of closed sales in August 2025 for residential homes was $4,669,643,977 and was $495,173,759 for condominiums ($5,164,817,736 in total).

“Interest rates for 30-year fixed-rate mortgages declined early in the month, from 6.72% at the end of July to 6.63% a week later, but have dropped relatively slowly since then, ending the month at 6.56%,” said Steven Bourassa, Director of the Washington Center for Real Estate Research at the University of Washington. “Pressure on the Federal Reserve Bank to lower its overnight federal funds rate is expected to result in cuts later this year, but it is unclear that such cuts will lead to significant changes in long-term rates, such as for mortgages.”

Consumer and Broker Activity

NWMLS also provided insights into consumer activities during the month of August 2025:

  • Keyboxes located at listed properties were accessed 164,711 times in August 2025, a 2.4% decrease from July 2025 when they were accessed 168,801 times. Keybox activity increased year-over-year by 3.4%, with keyboxes being accessed 159,239 times in August 2024.
  • The total number of property showings scheduled through NWMLS-provided software decreased 2.9% from 126,250 in July 2025 to 122,534 in August 2025. This was a year-over-year increase of 2.2% from the number of showings in August 2024 (119,927).
  • In August 2025, there were 22,163 listed properties that were eligible for the Down Payment Resource program offered by NWMLS, a 2.2% increase from 21,687 in July 2025. This was a 22.9% year-over-year increase from 18,028 eligible listings in August 2024. 72.9% of listings in the NWMLS database were eligible for down payment program assistance

Our Take on the Current Market

Inventory has surged over 30 percent from last year, yet sales continue to slip and prices are holding flat. To us, this points to a market in limbo. Buyers are hesitant and waiting for rates to drop while sellers are standing firm on pricing.

For Eastside buyers, this lull creates opportunity with more homes to choose from, less competition and sellers becoming more open to negotiation. For sellers, it is time to get strategic. Standout presentation, sharp pricing and patience will be key until buyer confidence returns.

Right now it is not a hot market or a crashing one. It is a pause and when rates finally dip we expect buyers to return fast and strong.

Individual Market Analysis for Eastside Cities (Live Statistics):

Sammamish:

 

Redmond:

 

Bellevue:

 

Mercer Island:

 

Kirkland:

 

 Buyers:

  • Act Quickly: Given the low inventory and high competition, it's crucial to move quickly when a desirable property becomes available.
  • Prepare Financially: Ensure your financing is pre-approved and be prepared to offer at or above the asking price in highly sought-after areas like Bellevue and Redmond.

Start Your Home Search Here

Sellers: Price Right. Prep Smart. Win Big.

Yes, inventory is up—but so are buyer expectations. The homes that sell fastest and highest are the ones that shine.

  • Maximize Appeal: Strategic updates, expert staging, and tailored marketing still deliver top dollar.

  • Use Market Momentum: Serious buyers are still out there, especially in areas like Issaquah, Kirkland, and North Bend—if your home shows well and is priced with purpose.

  • We Handle Everything: From prep to paperwork, we take care of the details so you don’t have to.

  • Let’s Talk About Your Game Plan → www.shaneandanne.com/contact

Our Listing Process

With Shane & Anne, our mission is to prioritize our clients in every aspect of the real estate journey. We are committed to providing exceptional service and expertise in the luxury real estate market. Guided by our core values, we strive to build lasting relationships based on trust and mutual respect.

Our Core Values:

          • Loyalty: We are unwavering in our commitment to our clients, always putting their needs and interests first.
          • Honesty: We operate with the highest level of integrity, providing truthful and transparent communication at every step.
          • Confidentiality: We respect our clients' privacy and handle all transactions with the utmost discretion.

We are committed to staying ahead of market trends and continuously enhancing our skills and knowledge to deliver unparalleled results. Our goal is to make the real estate experience as smooth and rewarding as possible, ultimately helping our clients achieve their real estate dreams.

       

*Information derived from the Northwest Multiple Listing Service