Greater Seattle Real Estate – October 2025
Northwest MLS Real Estate Report
The Northwest Multiple Listing Service (NWMLS), which reflects housing activity across the greater Seattle area and beyond, continued to show signs of a market shift in October 2025. Although the number of homes for sale dipped from September, overall inventory remains much higher than this time last year. This is giving buyers more choices and signaling a move toward a more balanced market.
At the end of October, there were 18,791 active listings which is a 27% increase compared to the same time last year. Although inventory declined from September (down 6.3%), buyers are still seeing far more options than they had a year ago.
There was 6,222 sales in October versus 6,479 last year and 6,170 sales the month before in September. So sales are up from last month, and down from last year, but really the number of sales has not changed significantly.
The median sales price for residential homes and condos was $640,000. This is down $10,000 from last year ($650,000) but up nearly $10,000 from September ($630,700). Long story short, prices are down slightly from last year, but with increased inventory and lower interest rates, this could be a great time to buy.
Seattle Luxury Market
Following is a more detailed look at luxury real estate and waterfront homes in Seattle for the past month.
Luxury home sales are nearly identical as last year. Last year there were 269 sales of $2 million and over. This year there were 267.
The Eastside generally dominates the local luxury real estate market and this past month was no different. The top 12 sales were on the Eastside. The highest sale this October was a waterfront estate on Mercer Island that sold for $25 million. Other significant sales last month were in Hunts Point, Yarrow Point, Medina, Bellevue, and Kirkland.
Luxury Condos
A total of 115 condos sold for over $1 million this past month, marking an increase from the 107 luxury condo sales recorded in October 2024. Of those, 13 transactions surpassed the $2 million mark, highlighting sustained demand in the high-end market. The top sale this October was a unit in the Bellevue Towers North, which closed at $4.950 million.
Is Greater Seattle Real Estate Slowing Down?
Really the only major change is buyers have more options than a year ago. Prices and the number of sales are nearly identical with last year and last month, but instead of having nearly 15,000 properties to pick from you have almost 19,000. In addition, interest rates have dipped a bit more, which is encouraging for those looking to finance a home. Those in the luxury market often sell stock to buy homes, and with the market increases this may be a good time to pull money and buy a home. And while future interest rates and stock market are unknown, the real estate market continues to offer a balanced environment.
In short, the market is seeing some adjustments, but is far from declining.
For this blog the information and statistics were derived from the Northwest Multiple Listing Service.