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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.
The Truth About Where Home Prices Are Heading
There are plenty of headlines these days calling for a housing market crash. But the truth is, they’re not telling the full story. Here’s what’s actually happening, and what the experts project for home prices over the next 5 years.
And spoiler alert – it’s not a crash.
Yes, in some local markets, prices are flattening or even dipping slightly this year as more homes hit the market. That’s normal with rising inventory. But the bigger picture is what really matters, and it’s far less dramatic than what the doom-and-gloom headlines suggest. Here’s why.
Over 100 leading housing market experts were surveyed in the latest Home Price Expectations Survey (HPES) from Fannie Mae. Their collective forecast shows prices are projected to keep rising over the next 5 years, just at a slower, healthier pace than what we’ve seen more recently. And that kind of steady, sustainable growth should be one factor to help ease your fears about the years ahead (see graph below):
And if you take a look at how the various experts responded within the survey, they fall into three main categories: those that were most optimistic about the forecast, most pessimistic, and the overall average outlook.
Here’s what the breakdown shows:
- The average projection is about 3.3% price growth per year, through 2029.
- The optimists see growth closer to 5.0% per year.
- The pessimists still forecast about 1.3% growth per year.
Do they all agree on the same number? Of course not. But here’s the key takeaway: not one expert group is calling for a major national decline or a crash. Instead, they expect home prices to rise at a steady, more sustainable pace.
That’s much healthier for the market – and for you. Yes, some areas may see prices hold relatively flat or dip a bit in the short term, especially where inventory is on the rise. Others may appreciate faster than the national average because there are still fewer homes for sale than there are buyers trying to purchase them. But overall, more moderate price growth is cooling the rapid spikes we saw during the frenzy of the past few years.
And remember, even the most conservative experts still project prices will rise over the course of the next 5 years. That’s also because foreclosures are low, lending standards are in check, and homeowners have near record equity to boost the stability of the market. Together, those factors help prevent a wave of forced sales, like the kind that could drag prices down. So, if you’re waiting for a significant crash before you buy, you might be waiting quite a long time.
Bottom Line
If you’ve been on the fence about your plans, now’s the time to get clarity. The market isn’t heading for a crash. It’s on track for steady, slow, long-term growth overall, with some regional ups and downs along the way.
Want to know what that means for our neighborhood? Because national trends set the tone, but what really matters is what’s happening in your zip code. Let’s have a quick conversation so you can see exactly what our local data means for you.
Top 5 Reasons to Hire a Real Estate Agent When You Sell
The right agent doesn’t just list your house – they help you sell smarter, faster, and with fewer surprises. With an agent’s help, you’ll know what’s happening in your local market and how to price your house right. You’ll feel confident filling out complex legal documents and at the negotiation table. And that’s priceless. Let’s connect so you have that expertise on your side.
What Every Homeowner Needs To Know In Today’s Shifting Market
Here’s something you need to know. The housing market is getting back to a healthier, more normal place. And even though it may not sound like it, this shift is actually a good thing.
It’s what you should expect. It’s just that our expectations have been skewed by the intense seller’s market over the past few years.
But what you need to remember is: there’s still plenty of opportunity to be had if you’re thinking about selling – whether that’s next month or next year. You just need to stay up to date on what’s happening in the market, and have a strategy that matches the moment. Here’s your update.
- Inventory’s Up. Buyer Power Is Coming Back.
According to the latest data, the number of homes for sale is rising back toward more normal levels (see graph below):
But inventory growth is going to vary a lot based on where you live.
If you’re in a market where the number of homes for sale is back to normal, buyers may have more sway than you’d expect. That doesn’t mean buyers have all the power – it just means they have more choices, so your home has to stand out.
But if you live where inventory is still pretty limited, you may see more buyers competing for your house.
No matter where you are, the key is to work with a pro who can help you adjust your game plan for your local market.
- The Right Price Matters More Than Ever
With more homes to choose from, today’s buyers are quick to skip over homes that feel overpriced. That’s why pricing your house right is the secret to selling quickly and for top dollar. That’s a point Realtor.com really drives home:
“ . . . a seller listing a well-priced, move-in ready home should have little problem finding a buyer.”
Miss the mark, though, and you may have to backtrack. Today, about 1 in 5 sellers (19.1%) are reducing their asking price to attract buyers (see map below):
Here’s how to avoid being one of those sellers who has to reduce their asking price. Danielle Hale, Chief Economist at Realtor.com, says:
“The rising share of price reductions suggests that a lot of sellers are anchored to prices that aren’t realistic in today’s housing market. Today’s sellers would be wise to listen to feedback they are getting from the market.”
The best way to get that information? Lean on your local agent. They have the expertise to set a price that sells in any market. Because if your price isn’t compelling, it’s not selling.
- Flexibility Wins Negotiations
Gone are the days of buyers waiving inspections and appraisals just to get a deal done. Now, because they have more homes to choose from, buyers are able to ask for things like repairs, credits, and help with closing costs. And data from Redfin shows nearly 44.4% of sellers are willing to negotiate (see graph below):
The takeaway? This isn’t a bad market. It’s just a different one. And it’s in line with more normal years in the housing market, like back in 2019. The savviest sellers are the ones taking advantage of every opportunity to work with buyers and make their house shine.
And it’ll help if you think of concessions as tools, not losses. Use them to bridge gaps, sweeten deals, and get across the finish line. And don’t stress. Since prices went up roughly 55% over the past five years, you’ve got plenty of room to make a concession or two and still come out ahead.
Just be sure to work with your agent to understand which concessions could be the key to sealing the deal.
Bottom Line
Sellers who are going to succeed in the weeks and months ahead are the ones who understand this market shift and lean into it with the right expectations and the right strategy.
Let’s talk about what’s working in our local area right now – and how we can make those wins work for you whenever you’re ready to make a move.
June 2025 Eastside Market Update
Increased inventory continues to put downward pressure on pricing, leading to a 4% drop month-over-month. In other words, the prices we saw just 2 to 4 months ago are no longer achievable in today’s market. We’re also down 4% year-over-year—though that sounds more dramatic than it likely is.
For context: 2024 pricing peaked in May (a bit later than usual), whereas 2025 pricing peaked in March (a bit early). May 2025 prices are roughly in line with June 2024, suggesting a seasonal softening. And yes, it’s very likely we’ll see prices dip again next month.
The big question now: will inventory stabilize or continue to climb? We’ve had a notable spike in new listings, which is a welcome shift! More inventory means more choice for buyers—and it also introduces new strategy considerations for sellers.
The old “stick a sign in the yard and it’ll sell” mindset? That’s long gone (and frankly, I’ve never liked that phrase—there’s a world of difference between selling and maximizing value, but I digress).
A balanced market is healthy. It just takes some getting used to.
Mariners Client Appreciation Event 2025
Such a fun client appreciation event! I’m so grateful for my amazing clients and referrers, as well as the best lending partner in the industry – Wendy Mariani.
