Greater Seattle Real Estate – June 2025
Northwest MLS Real Estate Report
The Northwest Multiple Listing Service (NWMLS), which closely reflects trends in the Seattle real estate market, is experiencing a notable shift, with more homes coming on the market than we’ve seen in recent years. In June, active listings reached 19,837 — an 8.34% increase from May and the first time since September 2022 that all 27 counties reported double-digit year-over-year increases in inventory. This is encouraging news for prospective homebuyers, as greater inventory means more options and potentially less competitive pressure. The median sales price across the NWMLS in June was $670,000, up 3.08% from a year ago.
In King County, home to Seattle, the median sales price reached $913,563. However, it trailed behind San Juan County, which recorded a median sales price of $1,035,000. Sales activity also showed positive movement. The number of closed NWMLS sales in June was up 1.1% compared to June 2024, and up 3.51% from May 2025. Still, sales have not kept pace with the surge in new listings. Year-over-year, total active listings jumped by 38.82%, from 14,393 in June 2024 to 19,837 in June 2025. Compared to May 2025, inventory grew by 1,527 listings. Despite this uptick in supply, the 6,694 closed sales left the market with just 2.96 months of inventory at the end of June. This is still firmly in seller’s market territory, as anything under 4 months is considered favorable to sellers.
In short, buyers now have more choices than in recent years, while sellers continue to benefit from a strong market as we head into the peak of summer.
Seattle Luxury Market
Following is a more detail look at luxury real estate and waterfront homes in Seattle for the past month.
Luxury Homes
In June there were 264 luxury homes sales of over $2 million in King County. In contrast, last year, there were 204 homes sold in the same price range. The Eastside generally dominates the local luxury real estate market and this past month was a nice balance of top sales. Sales above the $8 million mark included 3 on the Seattle side and 4 on the Eastside. However, there were 19 sales over $5 million across the NWMLS; 15 were on the Eastside while 4 were in Seattle. The highest sale was an exceptional estate at the tip of Yarrow Point that sold for $13,000,000. Other significant sales on the Eastside were in Bellevue, Kirkland, Medina, Beaux Arts Village and West Lake Sammamish. Additionally, there was another stunning, waterfront property selling for $11,350,000 in Laurelhurst on the Seattle side. Other significant sales on the Seattle side were in Leschi and Washington Park.
Luxury Condos
In June 2025, 101 condos sold for over $1 million, a notable jump from the 69 luxury condo sales in June 2024. High-end condo activity clearly gained momentum this year. Two of those sales exceeded the $5 million mark. By contrast, the top sale in 2024 highlighted a significant pricing gap: an $8.796 million penthouse in Bellevue versus a $3.2 million condo in Downtown Seattle. This June, a waterfront condo in a premier luxury Kirkland community led the market, closing at $5.915 million. Seattle’s top condo sale for the month was a Downtown residence that sold for $5.625 million.
Is Greater Seattle Real Estate Slowing Down?
While inventory across Greater Seattle has grown, home prices have held relatively steady compared to last year. For buyers, this is a welcome shift, offering more choices than the market has provided in recent years. Sellers, meanwhile, can take comfort in the fact that inventory remains below historic norms and prices continue to show resilience. The market is evolving but not declining!
Every real estate market is different. To navigate the current issues, contact one of Ewing and Clark’s real estate brokers. Ewing and Clark has provided exceptional real estate service to Greater Seattle since 1900. Whether you are looking for a Belltown condo, a luxury home in Hunt’s Point or your first Seattle home, please contact us.
For this blog the information and statistics were derived from the Northwest Multiple Listing Service.
