July 2025 Eastside Market Update

Thankfully, the number of new listings dipped in June, following the typical seasonal trend where inventory peaks in May. That’s a welcome development, especially after a seemingly relentless upward climb in inventory with no clear end in sight. While overall inventory still rose 5% month over month, that’s a notable slowdown from May’s 41% jump.

Pending sales are up slightly, which is consistent with what we expect this time of year. Months of Inventory—our go-to metric for taking the market’s pulse—now sits at 2.3. That’s the highest we’ve seen since the fall of 2022, when we were feeling the impact of rising interest rates. Technically, 2 to 4 months of inventory indicates a balanced market. Still, it continues to feel more like a buyer’s market, likely a lingering effect from the abrupt shift away from several years of strong seller dominance.

Pricing is softening in response. Median prices are down 1% from last month and 2% year-over-year—essentially flat. And while median price isn’t always the most precise metric, it remains a helpful gauge. On the Eastside, the median price is holding at a significant $1.6M. Curious how that compares to Seattle and King County? They’re surprisingly close. Drop your guess in the comments—it’ll genuinely make my day.

So what does this mean for you?

Buyers: If the monthly payment works for your budget and you plan to stay for at least three years, this market continues to offer a sound opportunity to buy with confidence.

Sellers: Pricing matters more than ever. Be strategic, stay conservative, and closely review the close dates on comparable sales—most of Q1’s pricing is no longer within reach.