The November numbers are in, and no surprise, prices dipped across the board. This is a seasonal pattern we see every year as activity slows heading into winter. We’ll likely see a couple more months of price declines before they start moving up in 2026.

This creates a great opportunity for savvy buyers… if you can find the right home. New listings remain scarce, and many of the homes still on the market are there for a reason. The best opportunities are the ones with a frustrated, extremely motivated seller who, for whatever reason, hasn’t dropped their price yet.

📍 Seattle (SFH + townhomes)

• $965,000 median price
• ⬇️ Down 7.4% month-over-month
• ⬆️ Up 1.6% year-over-year
• Last month, at $1,042,500 was our all-time high

📍 Eastside (SFH + townhomes)

• $1,525,000 median price
• ⬇️ Down 3.4% month-over-month
• ⬇️ Down 6.4% year-over-year
• Still well below the 2022 peak of $1,874,000

Year-end can also be prime time for new construction deals. We’re seeing one high-rise negotiating ~9% off list, and another including parking to get deals done. But you need to close before year-end. If you’re financing, the clock is ticking!

A real example of a first-time buyer we just helped: he secured a brand-new Ballard townhome with $35,000 in credits, upgraded appliances, and hardwood floors throughout.

We hope your drains are clear and that you survived yesterday’s onslaught of rain! (Sure wish it was snowing in the mountains…) And if you’re wondering what your home is worth, just hit reply!

P.S. Curious about life in Seattle’s most expensive neighborhood? Check out our latest YouTube video.

Noteworthy deals last week

• Most expensive pending: Medina contemporary at $5.35M
• Highest % over asking sale: Phinney Ridge craftsman for 25% over
• Most expensive sale: Bellevue waterfront for $18M (off market)
• Least expensive sale: Northgate condo for $195K
• Most popular Seattle listing on Redfin: The most popular home is the same Fremont place we’ve been featuring for the past few weeks. Here is the second most popular: Broadview Tutor for $1.85M

Links

• Why Seattle-area homebuyers are shunning condos (Seattle Times)
• What Zillow won’t tell you (NYT)
• America’s Housing Crisis, in One Chart (NYT)

New listings bounce back after Thanksgiving break

Seattle: 151 new listings last week, up 132.3% w-o-w
Eastside: 91 new listings last week, up 193.5% w-o-w

We should see more homes go pending this week

Seattle: 109 pending last week, down 12.1% w-o-w
Eastside: 52 pending last week, down 24.6% w-o-w

Eye candy

$6.5M Denny Triangle penthouse at Nexus

$1.7M Beacon Hill modern

$1.5M Central District modern update

Check out last week’s market update, A sleepy week… except for the house that got 8 offers 🤯

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