The pace of Seattle home sales dipped 2% year over year to 4,106 in August, according to the latest RE/MAX National Housing Report. Month over month, sales were down 7%. 

Nationally, home sales in the 51 metro areas surveyed by RE/MAX declined 1.6% year over year and 5.5% month over month. 

The decline in sales came as a 17-month run of year-over-year increases in new listings came to a close, with a 5.9% drop from August 2024 and a 9.2% monthly decline.  

The number of homes for sale in August rose 24.4% year over year and dipped 0.4% month over month. Months’ supply of inventory was 2.8 months, up from 2.3 months in August 2024 and the same as July. Miami continued to lead the nation in months’ supply, with 6.7 months following a 24.1% annual surge. 

The median-sales price rose for the 26th month in a row year over year, climbing 1.9% to $448,000. Month over month it was down 0.6%. The average close-to-list-price ratio was 99%, the same as in August 2024 and July. 

“Housing market activity has recently been influenced by seasonal shifts and broader economic forces,” RE/MAX CEO Erik Carlson said. “While affordability remains a challenge in many areas, despite some recent improvements in mortgage rates, opportunities persist — especially in markets where prices have stabilized or inventory has improved.”