In November, all four of our regions saw year-over-year growth and month-over-month declines in the number of active listings. While a seasonal dip is normal for this time of year, the annual increases in inventory levels are notable. Rising supply is playing a central role in moderating prices and creating a more balanced market environment. Ultimately, the long-term impact of this added housing stock will depend on whether buyers are able to overcome the still-high prices and re-engage the market.
KING COUNTY
Last month, King County’s median price for a single-family home fell 1% year over year, from $925,000 to $915,000. Compared to November 2024, the number of active listings jumped 35%. Closed sales didn’t keep pace with inventory levels, declining 13% from last year and 24% since October. For King County condos, the median sold price dropped 10% to $507,880, and active listings grew 16%.
SEATTLE
Seattle was the only one of our four markets to experience a year-over-year price increase, albeit a modest one. The city’s median residential sold price inched up 1% in November, from $968,000 to $973,500. Active listings advanced 32% year over year but saw a typical seasonal drop of 19% month over month. Closed sales dipped 11% compared to 2024. Seattle’s median condo price remained flat at $573,500, while active listings increased 21%.
EASTSIDE
On the Eastside, the median price for a single-family home decreased 7% year over year, from $1,537,312 to $1,430,000. Active listings were 73% higher than last November. Although more homes were on the market, the increase in supply wasn’t matched by sales activity. Pending sales rose 10% year over year, but closed sales sank 17%. Condos, a more affordable alternative to the Eastside’s seven-figure single-family home prices, saw annual price growth of 9% to $750,000, as buyers continued to look for lower-cost options.
SNOHOMISH COUNTY
In Snohomish County, the median residential sold price edged down 4% to $750,000 in November, dropping from $784,975 a year earlier. Active listings increased 39%. Despite more supply, buyer activity softened: closed sales fell 16% year over year, and pending sales dipped 6%. In the county’s condo market, the median price contracted 9% year over year to $485,000 and active listings climbed 51%.
As the holidays get underway, the real estate market is settling into a state of balance. Year-over-year gains in supply are influencing pricing and giving fresh options for the buyers still out there. The combination of seasonal patterns and shifting conditions ahead of the busy spring market may create opportunities for both buyers and sellers. In a continually evolving real estate landscape, the expert guidance of a Windermere agent remains essential.
