April 2025 Market Update - Early Signs of Market Strength Begin to Emerge by Kurt Kreager, Managing Broker - REAL Broker, LLC

Introduction 🚀

April 2025 brings a refreshing breeze of optimism to the Greater Seattle real estate market. After months of uncertainty, early signs of market strength are beginning to emerge, offering hope to both buyers and sellers. This update delves into the latest statistics and trends, particularly focusing on the Northwest Multiple Listing Service (NWMLS) data for March 2025, to provide a comprehensive view of the current market landscape.

Year-Over-Year (YOY) Analysis 📊

The real estate market has shown resilience with a 2.6% year-over-year increase in the median price area-wide (26 county NWMLS service area). This upward trend is a positive indicator for homeowners and sellers, suggesting a gradual recovery in property values. For buyers, this means acting swiftly is crucial as prices are on the rise, potentially leading to increased competition in the coming months.

Active Listings Surge 📈

One of the most notable developments is the 43.7% increase in active listings area-wide. This surge provides a wider array of options for potential buyers and indicates a healthy, more balanced market. With more homes available, buyers have the advantage of choice, while sellers benefit from a renewed interest in their properties. Days on Market, a key indicator of market strength, inched down to 7 days, from February 2025's 9 days, in the 3 county Greater Seattle market (King, Pierce, Snohomish). This is inline with March 2024's 6 days on market & could partially be a result of the common practice of Offer Review periods of 4 or 5 days.  All indications, from this observer who reviews new listings daily, are that this first week of April 2025 is showing a continual increase in new listings. While it is too early to tell, recent Unpublished Pending data for the 3 county Seattle market shows an +4.6% increase in Median Unpublished pending price from just two months ago and Pendings Sales with Multiple Offers inching down to at 33% from Jan/Feb 2025's 37%. 

Showings and Buyer Interest 👀

Showings have seen a significant rise, up 25.5% compared to February 2025. This increase in buyer activity suggests growing confidence and interest in the market. As more potential buyers explore their options, it reflects a dynamic environment where both new and seasoned buyers are eager to find their ideal homes.

Mortgage Rates Update 💰

Mortgage rates have continued their slight dip, now standing at 6.485% (30 year Conventional, per Fortune.com). This reduction enhances affordability for many buyers, making homeownership more accessible. Lower rates can stimulate market activity, encouraging more transactions and potentially leading to a more vibrant real estate landscape.

Conclusion and Outlook 🔮

In conclusion, the early signs of market strength in April 2025 are promising for the Greater Seattle real estate market. With rising prices, increased listings, and more showings, the market is poised for a positive trajectory. Buyers and sellers alike should stay informed and proactive to capitalize on these emerging opportunities. As always, working with a knowledgeable real estate agent can provide invaluable insights and guidance in navigating this evolving market.

Read the full NWMLS 4/3/25 Press Release HERE.

All stats per NWMLS data & deemed accurate