Seattle Housing Market: Trends & Prices
Seattle Housing Market: Trends & Prices (2025)
Seattle Real Estate Market Overview
(Last Updated – 4/2025)
As of 2025, Seattle is still considered a seller’s market due to continued high demand and limited housing supply. Seattle’s hot real estate market is also due in part to the influx of high-earning, remote tech employees from big companies like Amazon and Facebook.
With a population of more than 760,000, Seattle is the 18th largest city in the U.S. It may get a bad wrap for its weather, but the rain creates lush greenery and gives the city a sparkling clean feel. Plus, more-spacious homes allow for office areas for remote workers.
Currently, there are more than 458,000 employees in Seattle, and the average median household income is $120,608, according to the latest U.S. Census Bureau data.
A benefit of Seattle that big cities don’t always offer is ease of movement. Walking, biking, and public transportation are so accessible that the average commute time for those living in the Seattle metropolitan area is 26.6 minutes. Car ownership in Seattle is also lower than the U.S. average, with an average of only one car per household.
Recommended: Home Ownership Resources
Overall Seattle Market Trends
Those looking to move to Seattle are not alone. While there’s been some price drops recently, Seattle home prices remain high due to Seattle having more homebuyers than available homes.
The Seattle real estate market has been very competitive in recent years, and is still considered very competitive. Often, homes get many offers, some even with waived contingencies.
Most houses stay on the market for just 10 days and sell for 1% over list price. According to Redfin, highly desired homes go pending in four days and sell for 2% over asking price.
Recommended: Local Housing Market Trends by City
$856,950
Median Sale Price
$583
Median Price Per Sq. Ft
10 days
Median Time on Market
Seattle Housing Market Forecast
If you’re hoping to purchase a home in this area, expect to face high competition as homes are selling quickly and typically receive multiple offers. The strong job market, scenic views, and cultural scene make it a desirable location for millennials and people of all backgrounds. This along with constrained inventory means Seattle is a seller’s market, although local real estate agents forecast the market is getting more balanced in some areas.
Demographics of the Seattle Market
If you love rain, Seattle may be the perfect fit for you. This city gets about 150-152 rainy days a year.
The upside is that Seattle is home to the original Starbucks, and this city takes its coffee seriously. There will be no shortage of hot cups of joe to keep you warm on drizzly days.
Median Income: $120,608
Median Age: 35.6
College Educated: 69.8%
Homeowners: 43.7%
Married: 35.2%
Popular Seattle Neighborhoods
Like any big city, Seattle has many great neighborhoods to choose from. But compared with sprawling cities like Los Angeles, Seattle is compact. It’s both pedestrian- and bike-friendly and has great public transportation options.
No matter what neighborhood you choose, it’s likely you’ll be able to take advantage of everything the city has to offer.
Recommended: Price-to-Rent Ratio in 50 Cities
Downtown Seattle
Downtown Seattle is the vibrant heart of the city, known for its iconic skyline, bustling streets, and waterfront views. It’s a dynamic blend of business, culture, and entertainment, home to major companies like Amazon and Nordstrom, as well as attractions such as Pike Place Market, the Seattle Art Museum, and the Seattle Aquarium.
Residents enjoy a highly walkable neighborhood with high-rise living, luxury condos, and access to a wide variety of restaurants, shops, and nightlife. With easy public transit options — including light rail and buses — Downtown Seattle offers convenience and urban energy, making it ideal for anyone who thrives in a fast-paced environment.
Quick Facts
Population:
40,493
Median Age:
35
Housing Units:
29,910
Bike Score:
63/100
Walk Score:
98/100
Transit Score:
100/100
Average Household Income:
$102,752
Downtown Housing Market
Redfin considers Downtown Seattle a somewhat competitive market. The typical home goes pending in 44 days and sells for about 2% below list price. Hot homes go pending quicker — in around seven days — and sell closer to list price.
In February 2025, median home sale prices were down 1.3% compared to last year. Homes stay on the market, on average, for about 74 days.
Median Sale Price
$658,000
Average Price Per Square Foot
$772
Capitol Hill
Capitol Hill is a vibrant and densely populated neighborhood located just east of downtown Seattle. Known for its eclectic culture and lively atmosphere, the area features a diverse array of bars, restaurants, boutiques, and entertainment venues, particularly along Broadway, 15th, and 19th Avenues.
This area of Seattle was formerly the center of the grunge movement and has maintained a passion for music, theater, and art.
Quick Facts
Population:
30,955
Median Age:
37
Housing Units:
18,325
Bike Score:
84/100
Walk Score:
93/100
Transit Score:
76/100
Average Household Income:
$207,235
Capitol Hill Housing Market
The Capitol Hill market is considered somewhat competitive, with the average home going pending within 37 days and selling for 1% below list price.
Median Sale Price
$615,500
Average Price Per Square Ft.
$593
East Queen Anne
East Queen Anne, one of the best places to live in Washington, is situated on the eastern slope of Queen Anne Hill. The neighborhood is characterized by its tree-lined streets and a mix of historic and modern homes, reflecting its rich architectural heritage.
East Queen Anne provides a dense urban feel, with numerous bars, restaurants, coffee shops, and parks contributing to its vibrant atmosphere. The community is known for its walkability and proximity to downtown Seattle, making it a convenient location for professionals and families alike.
Quick Facts
Population:
32,251
Median Age:
32.1
Housing Units:
21,782
Bike Score:
71/100
Walk Score:
82/100
Transit Score:
68/100
Average Household Income:
$166,998
East Queen Anne Housing Market
The East Queen Anne housing market is very competitive, and the median home sale price went up 36.6% compared to last year.
Many homes get multiple offers, some with waived contingencies, and average homes sell for 1% above list price after an average of 13 days on the market.
Median Sale Price
$1,352,500
Average Price Per Square Ft.
$664
Eastlake
Eastlake is a charming neighborhood located along the eastern shore of Lake Union in Seattle, Washington. Bordered by Lake Union to the west, Portage Bay to the north, Interstate 5 to the east, and E. Galer Street to the south, it offers residents picturesque waterfront views and a serene atmosphere.
The neighborhood is renowned for its eclectic mix of housing options, including floating homes, single-family residences, apartments, and condominiums. Eastlake is a close-knit community and a desirable place to live for those seeking a blend of urban amenities and neighborhood charm.
Quick Facts
Population:
8,836
Median Age:
33
Housing Units:
5,934
Bike Score:
77/100
Walk Score:
82/100
Transit Score:
56/100
Average Household Income:
$152,260
Eastlake Housing Market
Some homes in Eastlake may come with waterfront views, but they can also come with hefty price tags. The median home price was $900,000 in February 2025, which is up 24.4% from last year.
According to Redfin, the Eastlake housing market is somewhat competitive, with some homes getting multiple offers. Average homes are pending within 48 days and sell for 2% below list price.
Median Sale Price
$900,000
Average Price Per Square Ft.
$621
Belltown
Belltown is a vibrant and densely populated neighborhood located just north of downtown Seattle, Washington. Historically a low-rent, semi-industrial arts district, Belltown has transformed into a hub of trendy restaurants, boutiques, nightclubs, and residential towers. The neighborhood is named after William Nathaniel Bell, on whose land claim it was built.
Residents enjoy a variety of dining options, chic boutiques, art galleries, and a legendary music scene. Belltown’s proximity to landmarks like Pike Place Market, the Seattle Art Museum, and the Olympic Sculpture Park adds to its appeal. The area boasts a high walkability score, making it convenient for residents to access amenities and public transportation.
Quick Facts
Population:
12,333
Median Age:
34
Housing Units:
9,411
Bike Score:
76/100
Walk Score:
98/100
Transit Score:
97/100
Average Household Income:
$158,822
Belltown Housing Market
The median home price in Belltown was $602,750 in February 2025, which is down 1.1% from the previous year.
Redfin considers this a somewhat competitive market, with some homes receiving multiple offers. Typical homes are pending in about 34 days for 2% above list price.
Median Sale Price
$602,750
Average Price Per Square Ft.
$654
SoFi Home Loans
It’s easy to see why Seattle has become such a popular market to buy a home in. There are dozens of amazing neighborhoods to choose from whether you’re young and single or have a family to look after.
If you think Seattle could be your home sweet home, then you may need to consider different mortgage loans during your home-buying process.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.FAQ
What is the current trend in Seattle home prices?
Seattle home prices have shown a moderate increase in early 2025 after a dip the previous year. Demand remains strong, especially in urban neighborhoods, driven by limited inventory and a steady influx of new residents.
Is Seattle a buyer’s or seller’s market?
Seattle currently leans toward a seller’s market, with homes receiving multiple offers and selling quickly, particularly in popular neighborhoods like East Queen Anne and Capitol Hill.
How competitive is the Seattle housing market?
Seattle’s housing market remains competitive. Well-priced homes in desirable neighborhoods often sell within days, and bidding wars are common. Buyers are encouraged to have preapproval and work with a local agent.
What is the median home price in Seattle?
According to Redfin, the median sale price in Seattle is $856,950. However, prices vary widely depending on the neighborhood and type of home, with some areas well above the citywide average.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.
HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.
SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.
If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.
Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.
SoFi loans subject to credit approval. Offer subject to change or cancellation without notice.
The trademarks, logos and names of other companies, products and services are the property of their respective owners.
SOHL-Q125-209
