Seattle’s April Housing Market in 3-Minutes
A monthly home and mortgage update by Brian Huie, April 15, 2025
How’s the market?
Source: NWMLS
Let’s cut through the fog and get to the good stuff: Seattle’s real estate market is strapping on its flip-flops and heading toward the summer season—but not without the usual spring break slowdown. Blame it on families jetting off to Cabo, weather we haven’t seen since last fall, or the sudden flood of new home listings trying to make their market debut all at once.
And while the news cycle feels like a fever dream of global chaos, the Seattle housing market is actually behaving like a well-trained corgi: energetic, sometimes erratic, but mostly sticking to the path we expected. Since my days of investing back in the early 2000s, one truth has remained constant: Seattle real estate moves with rhythm, not panic.
Let’s zoom out:
Mortgage rates are holding relatively steady in that spicy 6.5%–7% range.
Inventory is rising.
And yes, Seattle's population continues to grow with people who want more space, more light, and maybe a backyard for their pandemic puppy.
Meanwhile, many empty nesters are still sitting in oversized homes with five spare bedrooms, waiting until maintenance costs, property taxes, or bad knees force them to reconsider. (If you’ve ever stubbed your toe on an unused Peloton in your fourth guest room, this might be about you and you really should downsize.)
🧭 How This Impacts Seattle Homebuyers Right Now
More listings = more choices. Inventory is blooming like a Ballard backyard in May.
Interest rates are micro-volatile—but hovering between 6.5% and 7%—which freaks out lookie-loos but helps serious buyers lock in realistic monthly payments.
Buyer energy is heating up. Expect competition to spike as we slide into late May and June. This is when multiple-offer madness tends to make its seasonal comeback.
💡 What Seattle Home Sellers Need to Know
The chaos of global events and domestic political vibes is driving more sellers to list quietly through options like sharing their intentions of wanting to sell but not public and Off-market. Translation: they want the control without the circus.
The seasonal curve is real. More competing sellers are prepping their homes now, trying to beat the rush while the sun's still hiding behind clouds.
Here's the kicker: buyers are picky. Some homes are swarmed with offers, while others gather digital dust. Why? Because today’s buyers demand perfect pricing, smart prep, and standout presentation. If your home doesn’t check all three boxes, it’ll just sit there... haunting your Zillow dreams.
TL;DR? Seattle Market’s Not Crashing—It’s Morphing.
This isn’t doom and gloom. It’s strategy season. The savvy are adapting, the anxious are hesitating, and the successful are dialing in their moves. If you’re buying, selling, or just nosy about what your neighbor’s house might sell for—this is the time to be informed and intentional. Prepare with advice, not by failed attempts.
Mortgage Rates: 6.88% (avg 30-yr fixed)
Mortgage rates show frequent and chaotic volitility at first glance but MoM have only increased 0.08% and remain in the 6.5-7% range I've been predicting for this year. https://www.mortgagenewsdaily.com/mortgage-rates/30-year-fixed
What Current Mortgage Rates Mean for Seattle-Area Homebuyers
Experienced homebuyers are more comfortable with today’s mortgage rates after years of searching.
Newer homebuyers see 7% mortgage rates as the norm—just like I did when purchasing my first home in the early 2000s at over 7%.
A 0.25% mortgage rate decrease can:
Increase buyer competition
Lead to surges in pre-approval applications
A 0.25% interest rate increase can:
Reduce buyer competition
Make timing in the real estate market even more crucial
What Current Mortgage Rates Mean for Seattle-Area Home Sellers
Steady mortgage rates have shifted Seattle homebuyers' focus back to home shopping instead of hesitating over rising interest rates.
Homes that don’t sell within the first couple of weeks may need seller concessions, such as:
Covering closing costs
Offering rate buydowns to attract buyers
Pricing, home preparation, and staging are now more critical than ever to:
Capture serious buyers quickly
Maximize your home’s value
Housing Inventory
NWMLS inventory has increased by 43.7% since March 2024, rising from 1.57 months to 2.15 months. However, inventory levels vary significantly across different markets and submarkets—for example:
Kirkland Janita-Totem single-family home inventory is at 0.7 months.
Seattle’s Capitol Hill condo inventory is at 4.2 months.
What This Means for Seattle-Area Homebuyers
More inventory = more options, even for the pickiest buyers.
However, highly desirable homes—those that are well-prepared, priced correctly, and presented well—will still attract intense competition.
Some buyers may overpay for these standout homes, while less-prepared listings sit on the market.
What This Means for Seattle-Area Home Sellers
More competition means sellers need to differentiate their listings to attract serious buyers.
Buyers tend to flock to what I call “gems of the week”—homes that outshine others due to exceptional preparation, pricing, and presentation.
To maximize sale price, sellers should ensure their home is market-ready on day one.
Buyer’s Winning Offer Traits On Currently Pending Offers
(pending listing data for Snohomish, King, and Pierce Counties)
The Seattle-area housing market is not just thawing—it’s picking up steam like a double-shot espresso. The median pending price climbed from $749,997 in January to $800,000 in March, a not-so-subtle hint that buyers are done waiting for spring.
At the same time, the pending-to-list price ratio ticked up from 100% to 102%, meaning many homes are now selling above asking. That’s not just demand—that’s demand with a bidding paddle.
Competition is creeping in: 35% of homes in January had multiple offers, and by March, it edged up to 39%. Meanwhile, escalation addendums (a.k.a. the formal way of saying “I’ll beat their offer”) rose from 14% to 18%.
Buyers are getting lean and mean. Inspection contingencies are dropping—49% in January, down to 40% in March—while finance contingencies slid slightly from 70% to 67%. The message? Offers are getting cleaner, faster, and more competitive.
What this means for buyers: Be ready to move quickly, bid strategically, and cut the fluff—this market doesn’t wait for indecision or paperwork delays.
What this means for sellers: The spring surge is already here, and it’s your moment to list while demand is rising and buyers are throwing elbows (and escalation clauses).
Headlines
Data shows a growing number of empty bedrooms in Seattle-area homes
“Empty Nesters delaying downsizing”
https://www.seattletimes.com/seattle-news/data/data-shows-a-growing-number-of-empty-bedrooms-in-seattle-area-homes/Housing Market Sees Generational Shift: 'Plot Twist'
“Baby Boomers Retakes Homebuying Throne from Millennials”
https://www.newsweek.com/housing-market-sees-generational-shift-2058847Warren Buffett's Berkshire Hathaway shares bold housing market insight
”Renovated homes are shared 30% more than fixer-uppers”
https://www.thestreet.com/real-estate/warren-buffetts-berkshire-hathaway-shares-bold-housing-market-insight