|
King
County Market Snapshot | September 18, 2025 The King County housing
market is showing signs of a steadier, more deliberate pace as we move into
fall. In the past week, 465 new listings came to market while 373 homes went
pending. Inventory remains at 2.1 months of supply, still leaning toward
sellers, but offering buyers more opportunity than the past winter/spring
months. Market
Tempo | First Impressions Matter Among sellers, 31% set offer
review dates in hopes of receiving multiple offers. Of homes listed between
August 31st - September 6th, 34% received offers within
the first 7 days. Looking back to August 17th – 30th, 39%
of homes went pending within the first two weeks. Still, timelines are
stretching: the median days on market has risen to 18, with an average of 33
days, underscoring the importance of pricing and presentation. Buyer
Behavior | Cautious, Selective and Strategic Competition is no longer the
norm. Between September 7th and the 13th, just 28% of
homes with accepted offers experienced multiple offers, meaning 72% of buyers
faced no competition at all. Inspection contingencies were included in 41% of
offers, while financing contingencies appeared in 66%, a clear signal that
buyers are negotiating from more of a position of confidence. Pricing
Outcomes | Strategy Over Speculation In the past 30 days, only 25%
of homes sold over list price. Of those, 7% sold more than 5% above asking, 3%
exceeded 10%, and just 1% reached premiums of 15% or more. Meanwhile the
majority, 54% of homes sold below list price. On average, listings in August
drew just 6.6 showings each, making strong marketing and accurate pricing
essential. The
Takeaway | King County Market Mortgage rates have dropped
more than three-quarters of a point since May 2025, and with the Fed’s recent
quarter-point cut and clear signals of additional reductions later this year
and into next, buyers should be taking note. Lower borrowing costs should bring
renewed energy to the market this fall. If demand strengthens, we may
finally see inventory start to tighten instead of continuing to climb. For now,
King County remains a market that rewards precision. Sellers who price
strategically and present a move-in ready home are still attracting strong
early offers. Buyers, meanwhile, continue to hold leverage, most are purchasing
without competition and with inspection and financing contingencies in place.
As we move into fall, both
buyers and sellers have opportunity. The key will be preparation, smart
strategy, and timing.
|