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Stats by
Kat | Market Insight: King County | 3 July 2025 Written for the curious, the strategic and the
data-driven homeowner. As we move through July, the
King County housing market continues to evolve, reflecting not just seasonal
patterns, but the shifting psychology of both buyers and sellers. If you’re
wondering where we stand, this week’s data offers some revealing insights. Inventory & Activity:
More Listings & Sharper Competition Among Sellers King County’s market has
added substantial inventory in recent weeks, with the current supply reaching
2.0 months. To put it in perspective: last week brought 472 new listings to
market, yet only 369 went under contract. That imbalance is starting to show.
Three-hundred and eleven sellers reduced their prices in just the past seven
days alone which is 10% of the total active listings in King County. While increased choice is
welcome news for buyers, it signals a growing need for sellers to be precise
with both pricing and presentation. Offer Review Dates: Still
Effective - But Not for Everyone Roughly 30% of sellers are
still using Offer Review Dates (ORDs) as a way to drive early activity and
increase the likelihood of multiple offers. However, this tactic only works
when applied to homes that stand out; those with flawless market prep and compelling
features and/or prime locations. In a climate with more supply and a more
discerning buyer pool, restraint and strategy matter more than ever. Buyer Behavior &
Negotiation Trends Buyers
are still showing up, but they’re bringing contingencies with them. According
to the most recent NWMLS data: ·
29% of
homes that went under contract received multiple offers. ·
36% of
those offers included inspection contingencies. ·
65%
included financing addenda. We’re seeing a more level
playing field, where buyers are hesitating and when they do, they are
reasserting some negotiating power. Speed of Sale: Still Fast for
the Right Homes Homes that are well-priced
and well-prepared are still selling quickly. Among homes listed between June
15–21, almost one-third (30%) were under contract in a week or less. For those
listed earlier in June, 43% found buyers within two weeks. For closed sales over the
past 30 days, the average Days on Market sits at 17, with the median a brisk 7
days. Pricing Performance: Still
Room for Upside—But Risk in Overreach The
over-asking-price trend continues, but it’s tapering. Among recent closings: ·
39% sold
for more than list price. ·
15%
exceeded list by 5% or more. ·
7% went
10%+ over asking. ·
3%
commanded 15%+ over. ·
However,
37% sold below their original asking price. This illustrates both the
opportunity and the risk in today’s market. Overpricing, even slightly can
stall momentum and invite costly course correction. Year-Over-Year Shifts: A
Market in Transition Compared
to June 2024: ·
Showings
per listing is down by 29% ·
New
listings are up 13%. ·
Total
market inventory has grown by 50%. ·
Homes
under contract rose just 3%. ·
Closed
sales ticked up by 7.7%. ·
Months supply
of inventory increased by 38%. In short: there’s a lot more
homes to choose from and the pace of absorption isn’t keeping up with the
influx of listings. This underscores the need for fantastic market preparation
and precision pricing. What It Means for You Sellers: This
market still favors well-prepared homes, but buyers are becoming more
discerning. To get top dollar: ·
Price
with the purpose of getting under contract over the first 7 days. First
impressions matter. ·
Prep
thoroughly, think fresh paint, staging, curb appeal. ·
Consider
ORDs only when the property truly warrants the spotlight. Buyers: ·
You may
be seeing more opportunity, but don’t mistake selection for slack. The best
homes are still moving fast. ·
Strengthen
your offer, get fully underwritten and be flexible where it counts. ·
Buy
smartly, remember to consider resaleability and work with a broker who knows
how to win (without putting you and your earnest money at risk). Conclusion: Market Momentum
Meets Growing Caution As we move deeper into
summer, the King County housing market is showing clear signs of cooling.
Showings per listing in June dropped 29% year-over-year, and the increase in
both Months Supply of Inventory and price reductions, over 300 in just the past
week (10% of currently active listings) indicates a noticeable shift in buyer
behavior. While the market still favors well-prepared, competitively priced
homes, the urgency we saw in prior months is tapering off. Much of this hesitation is
tied to broader economic and political uncertainty. With interest rates holding
in the upper 6% to low 7% range, both buyers and investors are growing more
cautious. Sellers, too, are beginning to recognize that pricing strategies that
worked in early spring may no longer yield the same results today. There is still meaningful
activity for the best prepared and well-priced properties, but buyers are more
selective, and investor confidence is tempered. In this climate, smart pricing,
strategic preparation and expert guidance are essential. As the market evolves,
success will come not from “waiting it out”, but from navigating it wisely. And
remember the goal is to get sold quickly (within the first 2 weeks) to avoid
becoming that “stale” listing, that buyers now think there’s something wrong
with. Let’s Talk Strategy The King County market is
still active, but no longer forgiving. Every decision, whether you're buying,
selling or simply watching, benefits from insight and experience. When you’re ready to make
your next move, let’s make sure it’s smart, strategic and successful. Kat
Howard, Broker and Certified Real Estate Analyst
Your trusted real estate
resource since 1999
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