Wedged between Puget Sound and Lake Washington, Seattle runs on tech-industry ambition, stunning scenery, and a housing market that rarely gives buyers an easy moment. From the coffee shops of Capitol Hill to the waterfront energy of Ballard, this city commands premium prices — and passionate competition — in nearly every neighborhood.
More homes sat on the market last March than a year ago, yet prices barely moved and homes still sold in half the national time. If you’re buying in Seattle right now, you have more options than last spring — but don’t mistake that for leverage. Sellers still hold most of the cards.
Inventory Jumped, But Demand Kept Pace
Buyers had more to choose from last March — but not because sellers flooded the market. Active listings rose 33% year over year to 1,878 homes, while new listings actually fell 2.2% to 1,138. Homes were simply taking a little longer to sell, which pushed the active count higher. For buyers searching now, that means more options than last spring — just don’t expect a wide-open market.
List Prices Held Steady at a Premium, With Price Cuts on the Rise
Seattle’s median list price held at $749,475 in March — nearly 80% above the national median — dropping just 0.1% year over year while national prices fell more than twice as fast. That said, 13.9% of listings took a price cut, up nearly 2 points from a year ago. Sellers who priced accurately moved their homes. Those who pushed too high got pushed back.
Seattle Homes Moved in Half the Time of the National Average
Speed still defines this market — Seattle homes sold in 35 days last March, compared to a national median of 57. Yes, that was about 9% slower than the prior year, but buyers shouldn’t read too much into it. If you’re making offers in Seattle right now, you still need to move fast and come prepared.
Seattle’s March data told a clear story: more inventory, slightly slower sales, a few more price cuts — and prices that barely budged. For buyers today, last spring’s near-impossible conditions have eased just enough to breathe. For sellers, the message is simple — price it right from day one. In a market where the median ask sits near $750,000, there’s no room to test the ceiling and hope for the best…