Market Trends From Around The Sound | Q1-2025
Realogics Sotheby’s International Realty is excited to present our Market Trends From Around the Sound, offering data and insightful analysis into the market trends of this year’s first quarter. The report covers 13 of the Puget Sound region’s distinct communities, diving into important data points like median sales prices, average days on market, inventory levels, and more.
Administration changes, elevated mortgage rates, economic uncertainty, and more continue to affect the market. However, as indicated by the year-over-year examinations in the report, buyers and sellers still made their moves and found success in their real estate endeavors.
Prepare for the active spring market by understanding how the market performed over the past few months. We invite you to explore the report’s findings and reach out to a trusted RSIR Global Real Estate Advisor with any questions or if you’re feeling inspired to begin your own real estate journey. The best way to approach the market is with a trusted expert at your side.
Seattle | Single-Family Homes
The market experienced price growth, with the median sales price consistently increasing from $860,000 in Q1-2023 to $935,000 in Q1-2024 to $1,025,000 in Q1-2025.
Bainbridge Island | Single-Family Homes
The first quarter of 2025 brought major price growth to the scenic island located just a ferry ride away from Seattle. The median sales price increased by a notable 28.2% year-over-year, from 1,188,000 in Q1-2024 to $1,523,000 in Q1-2025.
Eastside | Single-Family Homes
The region’s desirability is evident in its consistent price growth, and Q1-2025 was no exception; there was a 6.26% year-over-year increase in the median sales price from Q1-2024 to Q1-2025, up from $1,501,000 to $1,595,000.
Mercer Island | Single-Family Homes
With the highest median sales price of any of the areas analyzed in our reporting, Mercer Island represents a luxury market with much higher listing prices but less volume than other Puget Sound region markets.
Gig Harbor | Single-Family Homes
Buyers were not rushed to make their moves, with homes spending an average of 45 days on the market, signifying that buyers took their time to carefully consider their purchases.
King County | Single-Family Homes
With an average days-on-market figure of 33 days, homes spent the same amount of time on the market in Q1-2025 as they did in Q1-2024.
Seattle | Condominiums
There was a 60.49% year-over-year increase in homes for sale and a 16.76% increase in homes sold, indicating that both buyers and sellers were motivated to make their moves at the beginning of the year.
Eastside | Condominiums
With 2.6 months of inventory, it was still considered a seller’s market. However, there was significantly more inventory than the previous year’s first quarter, when there were only 1.3 months of inventory.
Kitsap County (Excluding Bainbridge Island) | Single-Family Homes
The median sales price in Kitsap County in Q1-2025 was $531,000, which was nearly exactly the same as Q1-2024’s median of $530,000. The similarities between Q1-2024’s data and Q1-2025’s data don’t end at the median sales price.
Island County | Single-Family Homes
With more space and lower price tags than some of the other areas analyzed in the quarterly report, buyers who purchased their Island County home in Q1-2025 got more for less, with an average price per square foot of $361.
Pierce County | Single-Family Homes
As witnessed in the past three years’ first quarters, homes generally do not sell quickly in the Pierce County market at the beginning of the year. Listings spent an average of 47 days on the market.
Snohomish County | Single-Family Homes
Price growth occurred, albeit it was minimal; the median sales price increased 3.66% year-over-year from $738,000 to $765,000, and the average price per square foot increased 3.8% year-over-year from $395 to $410 per square foot.
Cle Elum | Single-Family Homes
Buyers hoping to find their ideal home to the east of Seattle were treated to an abundance of choice with the number of homes for sale up by 77.78% year-over-year, from 72 homes in Q1-2024 to 128 homes in Q1-2025.
