Curious about the North Seattle Real Estate Market? Here are some live statistics for Ballard, Phinney Ridge, Greenwood, Green Lake, Fremont, Crown Hill, Sunset Hill, Whittier Heights, Loyal Heights.
Inventory is climbing as we head in to the spring of 2026. Prices are fairly flat and days on market is ticking up.
Reach out to Chris anytime with questions.
Let’s get one thing straight: 2025 did not turn into a buyer’s market. Anyone waiting for prices to fall or sellers to panic was mostly disappointed.
Yes, the market loosened a bit—but only a bit.
Sales held firm. Nearly 68,000 homes and condos closed across Northwest Washington, pushing more than $55 billion in sales volume. That’s basically flat from 2024, which tells you demand never went away—it just got more selective. Compare this to 107,000 homes sold in 2021!
Prices refused to budge. The median price landed at $644,500, and in places like King County, single-family homes pushed close to $1 million. If you were expecting a meaningful price correction, it didn’t happen. Desirable areas stayed expensive, period.
Inventory improved—but don’t get carried away. Listings were up and buyers finally had more than a handful of homes to choose from. That’s the good news. The bad news? We still averaged under three months of supply, which is nowhere near a balanced market. Sellers with well-priced, well-presented homes still had the upper hand.
Homes sold for almost full price. On average, sellers walked away with 99.6% of their asking price. Translation: buyers gained negotiating power at the margins, not leverage. Overpriced homes sat. Everything else sold.
Condos and new construction didn’t save affordability. Condos made up a small slice of sales, mostly in King County, and new construction came in at premium prices—$720K for new homes and $900K for new condos. That’s not relief; that’s just a different flavor of expensive.
The luxury market didn’t flinch. Thousands of homes sold above $2 million, and million-dollar condos continued to move. High-net-worth buyers never left—they just became more patient and more demanding.
June had the highest sales price by nearly $20,000 compared to May in 2024.
2025 rewarded realistic sellers and prepared buyers. The days of throwing a house on the market and naming your price are over—but so are the dreams of scoring a massive discount just for showing up.
This market wasn’t about timing—it was about pricing right, understanding micro-markets, and executing cleanly. And that’s exactly what will matter going forward.
Yep. There is a spring selling season and it matters. In fact, the average increase in value from January to April from 2020 to 2024 was 15.9%! The average increase from May to December was -6.6% over the same period. While the average value increase from the whole year January to December is 7.9% for those 5 years. Therefore, there is certainly a spring frenzy. The 2nd & 3rd charts below tracks the last 3 years of the average price in King County. The price builds in the spring until we hit a summer lull and slides through the winter. Then rinse and repeat. In addition, often get a bump before school starts in the fall. Interested in your home value? Call me today to put my 25 years of real estate expertise to work!
Median Sales Price Chart in King County from 2022 through 2024:
Northwest MLS brokers logged 67,788 sales in 2024. Here are some of the highlights from last year and my thoughts on 2025. Those 67,788 sales were by the 32,000 brokers in the NWMLS totaling $54 billion in volume. from single family homes (SFH) and condominiums. 87% of the sales were single family homes with 13% condos. Over all, there were 5.58% more SFH & condos sold in 2024 than in 2023.
The median price for last year’s completed transactions (NWMLS wide in Western WA) was $640,000, an increase of 6.67% from 2023’s figure of $600,000. For comparison, the median price ten years ago in 2014 was $285,000. Both residential home and condominium median prices increased year-over-year, with residential homes increasing 5.60% from 2023, and condominiums increasing 7.52%. 23 of 26 counties in the NWMLS service area reported year-over-year price increases in 2024. The average list price to sales price was 100.2%. Inventory as measured by months of supply averaged 2.11 months overall for 2024, improving on 2023’s average of 1.79, but still well below the balanced market range of 4 to 6 months.
Homes selling for $1 million or more increased in 2024, registering 22.87% of sales compared to 18.3% in 2023. 15,508 properties were sold at $1 million or higher, including 1,714 that sold for over $2.5 million, a 29.2% increase from 2023’s 1,709. The highest-priced residential home sale was recorded in Mercer Island at $28.5 million.
When reviewing the highest home prices by school district, about half of the 14 most expensive districts were in King County. Mercer Island school district in King County showed the highest median sales price of $2,436,500, followed by Bellevue, Lake Washington, Issaquah, Northshore and Snoqualmie Valley school districts recording median sales prices over $1.1 million. Outside of King County, Bainbridge Island School District in Kitsap County showed the highest median sales price of $1.35 million, followed by Orcas Island ($1.055 million) in San Juan County and Conway in Skagit County ($1.02 million).
New construction accounted for about 14.2% of sales during 2024. The median price for all new construction was $739,950, up 5.71% from 2023’s figure of $700,000.
“The 30-year mortgage interest rate was actually higher at the end of 2024 (6.85%) than at the end of 2023 (6.61%),” said Steven Bourassa, director of the Washington Center for Real Estate Research (WCRER) at the University of Washington, in December 2024. “We may well be experiencing the pains of adjusting to a new normal, with persistent interest rates of 6% or higher.”
Historical value of single family homes in King, Snohomish and Pierce counties back to 1994.
King County: For single-family homes only, King County’s median was $950,000, up 8.48%, and Snohomish County was $790,000, up 7.12% from 2023. That compares to $660,000, up 5.6% for all counties.
There was a 27% increase in properties that sold over $1 million in the graphic below. The Eastside had the most with 4856 homes over $1M and Seattle was 2nd with 2650.
Residential home prices by school district in 2024.
2025 Outlook: With mortgage rates hovering around 7%, buyer demand will remain slow and steady. Inventory is climbing and prices should remain stable in 2025. Housing starts should increase due to new WA development laws and in city infill.
Source: NWMLS
A DADU in Seattle is a Detached Accessory Dwelling Unit. You may have seen more of these pop up since they were approved in 2019. You will generally find them off of alleys or behind the main house. Here is the general criteria to build a DADU in Seattle:
Minimum lot size of 3200 SF
Minimum lot width of 25’ and 70’ lot depth
Up to 18’ heigh plus roof pitch
Up to 1000 SF of living space
Owners can rent them and even sell them separately if the lot is converted to a condominium.
See if your lot qualifies with this interactive tool at https://aduniverse-seattlecitygis.hub.arcgis.com/pages/feasibility
If you are interested in building, buying or selling, please give me a call or fill in the form below to put my 25 years of Seattle real estate experience to good use!
What does a DADU look like? Here are some of the recent listings around Ballard & Green Lake in North Seattle:
Sales in 2024 of DADU homes in the Green Lake & Ballard area average $766,000 for a 1054 square feet! Here is a list of the sales:
For more information, please fill in the form below and we will follow up right away!
In 2024, Chris earned his SRES (Senior Real Estate Specialist) designation, a comprehensive course in understanding the needs, considerations, and goals of real estate buyers and sellers ages 55 and older. Whether senior are buying, selling, relocating, or refinancing, seniors can be confident that a REALTOR® with their SRES® designation will be able to help them every step of the way.
How did we end the real in real estate? King County inventory is up 300% to 1.2 month from December 2021 creating better opportunities for buyers. Closed sales in the entire MLS declined by 23% from a record 2021 however, compared to 2018 through 2020 sales closed sales were off by 13%. Snohomish County had the biggest increase in average sales price by 15.5% while King County single family homes and condos increased by 8.9% year over year…
Year End Central Puget Sound Statistics. Click on the image to enlarge:
Just what is a DADU? A DADU in Seattle is a Detached Accessory Dwelling Unit. You may have seen more of these pop up since they were approved in 2019. You will generally find them off of alleys or behind the main house. Here is the general criteria to build a DADU in Seattle:
Minimum lot size of 3200 SF
Minimum lot width of 25’ and 70’ lot depth
Up to 18’ heigh plus roof pitch
Up to 1000 SF of living space
Owners can rent them and even sell them separately if the lot is converted to a condominium.
See if your lot qualifies with this interactive tool at https://aduniverse-seattlecitygis.hub.arcgis.com/pages/feasibility
Give me a call or fill in the form below if you are interested in building, buying or selling and put my 25 years experience in Seattle real estate to good use :). What does a DADU look like? Here are some of the recent listings in Ballard & Green Lake:
Sales in 2024 of DADU homes in the North Seattle area average $766,000 for a 1054 square feet! Here is a list of the sales:
For more information, please fill in the form below and we will follow up right away!
Tucked in the corner of Bellevue, WA lies the unique neighborhood of Newport Shores. Offering canals, marina, yacht club, tennis, volleyball and more. Offered at $1,900,000 in the fall of 2021.
Gated Mission Revival sound view home with original hardwood floors, cabinetry & fixtures. This quiet historic home is only blocks to Anthony’s & overlooks the marina, boardwalk & a new park! Grand living room with Batchelder tile fireplace, formal dining, butler pantry, nook, master suite with sunporch. The lower level features a media room, office, ¾ bath, 1 bedroom & 2 more potential beds. Modern electrical, plumbing, furnace/AC, 3 gas fireplaces. 18,537 SF lot w/ RM900 zoning offers building potential for up to 14 townhomes!
Offered at $1,174,000
http://www.chriscrossrealestate.com/des-moines-view-home
Fantastic County Estate on 47 Acres! Newer country classic farm house with all the upgrades & extras. Large country kitchen with stainless steel appliances & granite counters. Including a Private Elevator and a detached ADU. Large barn & shop. Paddocks, man made pond with waterfall and cascading brook. Complete wrap around porch with skylights. Detached 3 car garage with huge room above. Stand alone generator, all metal roofs with water run off plumbed into the pond. Another natural pond on the back acreage. A must see too much to list.
9256 3rd Ave NW, Seattle, WA 98117
Offered at $625,000
Welcome to this cute rambler on a nice corner lot in the Greenwood community! This home has new, fresh paint inside & out w/ new vinyl flooring & carpet. The floor plan boasts an open feel & the master suite has a private 3/4 bath. Enjoy the convenience of the attached 2 car garage off the alley w/ plenty of street parking & a fully fenced yard. Lots of room for gardening & activities. Take advantage of the 80 Walk Score, close shopping & entertainment nearby. Carkeek park is within 1.5 miles!
543 N 78th St, Seattle, WA for Sale July 2020. 3 beds, 1.75 baths, 1660 SF. Offered at $867,500.
