The Emerald City is a perfect match for homeowners looking to downsize in their golden years, according to research from Mirador Living.

The median existing-home price was also on the upswing last month, providing homeowners a bit of refuge as the stock market undergoes a correction, Chief Economist Lawrence Yun said in the monthly report. 

The pace of new-home construction was higher than economists expected, even as homebuilders expressed concern about the impact of tariffs and supply-side challenges. 

A $10.5 million transaction tops the list of the most expensive homes sales in the greater Seattle area last month.

Falling consumer sentiment suggests potential homebuyers are wary of the short-term economic outlook and future inflation, CoreLogic Chief Economist Selma Hepp said. 

At the same time, the median sales price for a new home hit its highest level since 2022, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.   

In Seattle, home prices posted a 5.61% year-over-year gain in December, while they slid 0.3% month over month. 

Waterfront views are a common theme among this month’s roundup of the 10 most expensive new listings in Seattle.

At the same time, builder sales expectations for the next six months posted their second-largest drop since the sentiment index started in 1985. 

These were the most expensive homes sold in the greater Seattle area last month, led by a $21.5 million waterfront home in the Lawtonwood neighborhood.

On a city basis, Chicago posted the highest annual increase among the country’s 20 largest metros, followed by Miami, Las Vegas and Washington, D.C. 

The median existing-home price for all housing types in December rose 6% from its year-ago level.    

The annual review from the Northwest Multiple Listing Service reveals that new listings, sales and prices all increased annually in 2024.

Just $1 million separates the most expensive new listing in Seattle from the 10th-most expensive new listing.

Nationally, home sales were up 13.3% year over year and 4.4% month over month, RE/MAX said. 

In its last reading before the end of the year, the National Association of REALTORS®  Pending Home Sales Index posted its fourth consecutive monthly increase in November.