Home sales were steady year over year in the region covered by the Northwest Multiple Listing Service, according to the group’s 2025 Annual Housing Market Report.
Sales for single-family homes and condominiums increased 0.21% year over year, with 67,929 closings — just 141 more transactions than 2024. Residential homes made up 86.5% of sales, while condos made up 13.5%.
The median sales price was $644,500, up 0.7% year over year, with the typical seller receiving 99.6% of their list price. NWMLS noted that the median reflects “a decade of sustained home value growth,” given the median home price of $310,000 in 2015.
Affordability — or lack thereof — remained a headwind to the market. Active listings rose 34% annually as homes lingered on the market longer (new listings increased only 8.9% year over year).
“Affordability constraints continue to put a damper on sales activity,” Steven Bourassa, director of the Washington Center for Real Estate at the University of Washington, said in a press release. “Average 30-year mortgage rates dropped only slightly last year, from 6.72% in 2024 to 6.6% in 2025, which was not enough to overcome buyers’ affordability issues, particularly when prices were more or less stable.”
However, Bourassa added that easing rates at the end of the year could improve affordability in 2026, assuming the decline continues.
Given the rate of sales, the NWMLS region had an average 2.83-month supply in 2025, up from 2.11 months in 2024. Inventory peaked in September at 3.25 months and bottomed in March at 2.15 months.
On average, there were 16,007 homes on the market each month.
King County
Looking at residential and condo sales combined, King County had a median home sale price of $860,000 across 22,987 units. Sales decreased 1.22% year over year, and the typical seller received 100.3% of their list price.
Residential prices were higher in King County than any other county in the NWMLS region, with a median single-family home price of $974,900. The county is home to seven of the state’s 10 most expensive school districts, the most expensive being Mercer Island, which had a median price of $2.5 million.
A majority of King County’s high-end single-family home sales — those priced $2 million or more — occurred in the Eastside area, which includes Bellevue, Kirkland and Mercer Island.
King County produced the most three-bedroom home sales, with 7,222 during the year, and led the way for condominiums, accounting for 60% of all condo sales. Snohomish County followed at 17.57%.
Looking at condos, a majority of King County’s condo sales occurred in the downtown Seattle area, with 2,524 transactions. Those units had a median sales price of $590,000.
King County had the most expensive condos in the NWMLS region, with a median price of $560,000, up 1.83% year over year. High-end condo sales — priced $1 million and up — were most common in the Eastside area, followed by downtown Seattle.
Active listings of both residential homes and condos increased 41.09% from 2024, with 58,964 units on the market, while new listings increased 10.87%, with 37,045 homes added to the market.
For new-construction sales, King County had a median residential home price of $1.039 million across 1,987 sales. Meanwhile, new condos had a median price of $949,975 across 1,164 transactions.
Given the pace of market activity, King County had an average 2.57-month inventory in 2025, up 42.84% year over year.