Greater Seattle Real Estate – December 2025
Northwest MLS Real Estate Report
The Northwest Multiple Listing Service (NWMLS), which closely reflects trends in the Seattle real estate market, continued to show signs of adjustments in December. Inventory levels remained well above last year, offering buyers more options.
There were 11,718 active listings at the end of the month, up 23% year-over-year. While inventory declined sharply from November, which is a normal seasonal trend, overall supply was still significantly stronger than December 2024. Nearly all NWMLS counties saw year-over-year inventory growth, reinforcing the shift toward a more balanced market across the region.
Sales activity showed modest improvement. Closed sales rose 4.1% compared to last year and increased slightly month-over-month. This pickup suggests continued buyer engagement despite seasonal patterns.
Home prices edged lower in December. The median sales price was $612,250, down from both November and the same time last year. Even with this softening, total sales volume remained solid, reflecting steady demand and ongoing movement among motivated buyers and sellers.
Seattle Luxury Market
Following is a more detailed look at luxury real estate and waterfront homes in Seattle for the past month.
Timeless European elegance available on Lake Washington
Luxury Homes
November saw 123 luxury home sales over $2 million in King County, compared to 171 during the same month last year. While the Eastside typically leads the region’s high-end market, this past month’s top sales were more evenly distributed across the county.
Of the seven homes that sold for more than $5 million, the Eastside claimed four and Seattle three. November’s highest sale was a custom-built home in Clyde Hill that closed for $6.85 million. By comparison, last year’s top November sale was an $8.2 million waterfront estate on Kirkland’s Champagne Point. Additional notable sales this year were recorded in West Seattle, Laurelhurst, Bellevue, and Kirkland.
Luxury Condos
In the condo segment, 70 units sold for more than $1 million in December, slightly below the 75 sales recorded in December 2024. Notably, 10 of those sales exceeded $2 million, signaling continued strength in the upper-tier condo market and sustained interest in premium urban living.
The month’s top condo sale was a penthouse residence in a boutique Queen Anne building, which closed at $5.35 million, setting a high bar for the segment. This surpassed last December’s leading condo sale, a $3.175 million unit at The Escala in downtown Seattle.
Beautiful unit available in The Emerald
Is Greater Seattle Real Estate Slowing Down?
Not really. December reflected a typical seasonal pause rather than a true slowdown, and the broader picture remains encouraging. Inventory continued to build year-over-year, giving buyers more choices and helping the market move toward a healthier balance. While active listings declined from November, that drop followed normal winter patterns, and overall supply remained well ahead of last year’s levels.
Overall, Greater Seattle real estate is not slowing down, it’s adjusting in a constructive way. Rising inventory, stable buyer demand, and a resilient luxury segment point to a market that is well-positioned heading into the new year.
For this blog, the information and statistics were derived from the Northwest Multiple Listing Service.