Been a busy summer.

⚡️ TL;DR
Seattle single-family homes (not condos or townhomes) hit a $1M median in August. Inventory is up, but buyers are still writing offers. Homes are selling in 12 days median (30 days average) — and just 9 days average for those that go above asking.

Contrary to headlines, sellers still have an edge, but this isn’t the 2021 frenzy. If mortgage rates fall further, expect tighter competition and another round of bidding wars.

📊 Seattle Single-Family Market — August 2025

• Median Price: $1,000,000 (up 7.5% YoY from $930K)

• Closed Sales: 527 (up 15.6% YoY)

• Active Listings: 1,187 (up 17.4% YoY)

• Pending Sales: 543 (up 5.4% YoY)

• Months of Inventory: 2.25 → balanced, leaning seller-favored

📈 Days on Market Insights — August 2025
How long it takes to get an accepted offer.

All Sales

• Median: 12 days

• Average: 30 days

Sold Below List Price

• Median: 34 days

• Average: 47 days

Sold Above List Price

• Median: 5 days

• Average: 9 days

💡 Pricing Impacts:

• Homes that sold above list went for an average of +13.5% over asking.

• Homes that sold below list went for an average of –6.4% under asking.

Sales Mix (August closings):

• 51.6% sold below list

• 31.1% sold above list

• 17.4% sold at list

👉 Remember: most homes closed in August actually went under contract in July, with ~30-day closings.

👉 In Other Words

• Homes moving in a week or less usually go over asking.

• Homes sitting a month or more often need a price cut.

• The “30-day average” is skewed by stale luxury listings — the real market pace is closer to 1–2 weeks for well-priced homes.

🧩 What It Means for Buyers & Sellers

• Supply is up double-digits YoY → more choice for buyers.

• Demand is steady → pendings and closed sales are climbing.

• Prices are resilient → Seattle cracked the $1M median, up 7.5% YoY.

• Market speed is deceptive → while averages look slow, good homes are snapped up fast.

🧙‍♂️ Looking Ahead
No crystal ball here. But for every 1% drop in mortgage rates, about 1 million buyers re-enter the market nationwide.

• On a $1M approval, a 0.25% rate drop boosts buying power by ~$20K–$30K.

• That same boost applies to every other buyer at your price point — meaning prices rise just as fast.
  

✅ If you want to save money → it may make sense to buy sooner rather than later.
✅ If you’ve got a home to sell → let’s talk strategy to keep your move stress-free and profitable.

🤙 Call, text, or DM me anytime to chat about your next step.

Best,

Justin H Gazabat
Broker | PNW, Seattle, Ballard, East Side
www.JustinGazabat.com
206-424-9497

PS: If anyone in your social or work circles is considering a move, just send me an intro text or email with their best contact info, make sure everyone is CC’d, and I’ll take care of the rest! I promise to take great care of them, serve them well, make you look good, plus help them get great results.