Housing Inventory: 5,688* King County home listings, 1035 new in 7-days - Expect sustained large number of new listings through Spring and Summer with buyer activity/absorption rates fluctuating in regular seasonal patterns

*Between 2015-2025, the average winter low to summer high is 3273-6334.

Mortgage Rates: 6.92%* (avg 30yr fixed**), up m/m, up w/w, volatile, but in the expected 6.5-7 range I’ve been predicting since last year

https://www.mortgagenewsdaily.com/mortgage-rates/30-year-fixed

*based on LTV and by credit
**“Average 30yr fixed“ is standard for reporting - The 50 year average of the “average 30-year fixed” is ~7.75%.

As we head into the summer selling season, market activity is accelerating across nearly all areas of Greater Seattle. The number of homes going under contract and closing rose last week, signaling renewed buyer engagement. New listings continued their upward trend, pushing inventory to year-to-date highs and giving buyers more choices than we’ve seen in months. Despite the increase in supply, both days on market and median sale prices held steady, while the median active price saw a modest uptick—reflecting sustained demand heading into the heart of the summer market.

Market activity across most of Greater Seattle remained relatively flat month-over-month for pending sales, echoing trends from this time last year when macroeconomic uncertainty and low consumer confidence contributed to a summer slowdown. In 2023, activity dipped into August before rebounding in September—an early sign we may once again be experiencing a delayed spring market. While pendings held steady, median sale prices rose, and an influx of new listings pushed inventory levels well above those of the same month last year. This increase in supply softened the absorption rate and extended days on market in many areas, offering buyers greater selection and negotiation power heading deeper into the summer season.