📰 “Why this might be the sweet spot for buying a home in Seattle” — we agree!

That was the original headline of The Seattle Times’ market update this week before it was changed to: “Seattle-area homebuyers spooked as rates, economic uncertainty rise.” (We’re guessing that version gets more clicks.)

Since the Times focuses on King County as a whole, here’s what our local data is showing:

📍 Seattle (single-family homes + townhomes)

• $960,000 median price
• ⬇️ Down 2.3% month-over-month from the recent peak
• ⬆️ Up 2.8% year-over-year
• Still below the all-time high of $1,040,000 (June 2025)

📍 Eastside (single-family homes + townhomes)

• $1,645,000 median price
• ⬆️ Up 2.8% month-over-month
• ⬆️ Up 2.8% year-over-year
• Still well below the 2022 peak of $1,874,000

🏡 What we’re seeing on the ground:
What is a sweet spot for sellers, but not buyers, is North Seattle, where we’ve seen recent bidding wars for affordable homes with 4, 3, and 2 offers.

On our end, we’ve been:

• Touring a $5M penthouse and a $16M Medina estate
• Celebrating two listings going pending (a Beacon Hill townhome in just three days! and an open house that landed a buyer for our Redmond listing)
• Listing a duplex in Fremont — a great opportunity for house hackers.

Noteworthy deals last week

• Most expensive pending: Mercer Island waterfront at $29M
• Highest % over asking sale: Bryant bungalow for 26% over
• Most expensive sale: Yarrow Point new construction for $8.5M
• Least expensive sale: North Queen Anne houseboat for $199K
• Most popular Seattle listing on Redfin: Fremont as-is for $550K (2nd week in a row!)

Links

• Former SAP Concur president sells Medina home (PSBJ)
• A solution to King County’s housing challenges might be in our homes (Seattle Times)
• Here’s who is buying units in the Avenue Bellevue towers (PSBJ)
• Why this might be the sweet spot for buying a home in Seattle (Seattle Times)

New listings by week

Seattle: 305 new listings last week, down 17.6% w-o-w
Eastside: 194 new listings last week, up 4.3% w-o-w

Homes going pending by week

198Seattle: 219 pending last week, down 9.6% w-o-w
Eastside: 138 pending last week, up 4.5% w-o-w

Eye candy

$4.75M Denny Blaine contemporary

$2M Hilltop midcentury modern by Paul-Kirk

$2M Snoqualmie Valley log cabin

$1.3M Cedar Park midcentury modern

Check out last week’s market update, October already!? Price cuts ahead

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