Seattle Real Estate Is Shifting

Seattle Real Estate Is Shifting—Big Time. Sellers, It’s Time to Rethink Strategy.

The numbers don’t lie—and they’re sounding the alarm for sellers across Seattle and the Eastside. Showings are down. Inventory is up. And the red-hot, multiple-offer frenzy of the past few years? It’s rapidly becoming a memory.

📉 Buyer Activity Has Plummeted

According to recent MLS data, showing traffic across King County has dropped 18.6% year over year. Zoom in a little closer, and it gets even more dramatic:

• Seattle: Showings are down 26% YOY

• Bellevue: Down a massive 43.2%

• Bothell: Down an eye-popping 60%

That’s not a seasonal lull—that’s a sharp shift in buyer behavior.

Over the past year, nearly all of our active buyers have fallen into two main camps: families needing more space and access to good schools, or move-down buyers making a strategic transition. But even that pool is thinning. With rising economic uncertainty—particularly around tariffs—we’re now seeing half of those motivated buyers pause their searches altogether.

🏡 Inventory Is Surging

Meanwhile, homes for sale are piling up:

• Redmond: Inventory has exploded 133.3% YOY

• Bellevue: Up 106.1%

• Seattle: Up 39.1%

• Bothell: A staggering 200% increase

This isn’t just more selection—it’s market saturation. And in a market this competitive, simply listing your home at last year’s prices isn’t going to cut it.

⚖️ A More Balanced—or Even Buyer-Leaning—Market

The pendulum is swinging. We’re not saying it’s a full-blown buyer’s market (yet), but we’re getting there. Here’s what that looks like:

• Homes are sitting longer. That one-week list-to-pending window is no longer the norm.

• Multiple offers are rare.

• Price reductions are increasing.

• Canceled listings are way up, often because sellers didn’t get the price they wanted and decided to hold.

The good news? We’re not seeing desperate sellers. But that also means buyers hoping to “steal” a deal may be disappointed. Sellers aren’t panicking—they’re just waiting.

💰 Despite the Slowdown, Prices Are Holding—And Still Up (Mostly)

Here’s the surprising twist: while demand has cooled and listings are up, most homes are still selling at or slightly above their original list price:

• Seattle: 100% of original list price

• Bellevue: 100%

• Bothell: 100%

• Redmond: 100%

Even more surprising? Home values are still up year-over-year in most markets:

• Redmond: ↑ 6.5%

• Seattle: ↑ 4.3%

• Bellevue: ↑ 9.7%

• Bothell: ↓ 0.5%

So, while homes are taking longer to sell and buyers have regained negotiating power, prices are largely holding—for now. But with inventory climbing and fewer buyers in the mix, that could change if sellers don’t start pricing more strategically.

💡 What This Means for Sellers and Buyers

Sellers: If you need to sell in this market, realistic pricing is essential. You’ll also need patience. Homes are taking longer to sell, and buyers are negotiating again. The days of naming your price and picking from a dozen offers are mostly gone.

Buyers: This could be your moment. You’ve got more power than you’ve had in years—more homes to choose from, room to negotiate on repairs, price, and even save key contingencies. In many cases, we’re seeing buyers negotiate 3–5% below list price, even if the final sale closes at or near asking.

That said, all real estate is local, and every home tells its own story. If you want to understand how these macro shifts affect your neighborhood—or your home—let’s talk. Strategy matters more than ever.