Year-over-Year Trends: Why This Stat Still Matters

If you want to know the true temperature of the real estate market, look no further than the percentage of homes that go under contract within their first 7 days on market. It’s one of my favorite indicators and for good reason.

Comparing 2024 to 2025, this metric tells a compelling story:  Nearly every week this year has underperformed compared to last year. Since early April, the difference has been especially pronounced, underscoring the fact that buyer urgency has cooled in 2025. See graph below.

Stats by Kat | Kitsap County Market Update: 19 May 2025

Market Activity & Inventory:  Kitsap County’s housing inventory continues to build, now sitting at 1.3 months, the highest level we’ve seen in months.

Last week 104 new listings came on the market, while only 71 homes went pending, meaning new listings are outpacing sales by quite a bit. For sellers, this means smart pricing and strong presentation are more important than ever.

Offer Review Dates - Still Somewhat Effective:  While not every listing is flying off the market, some sellers are still finding success by setting Offer Review Dates (ORDs) to create urgency and drive competition.

This past week, 35% of listings employed ORDs, and they remain a fairly effective strategy, especially for well-prepared, well-priced homes. However this strategy should be reserved for those listings that also have a spectacular feature on location (waterfront, water views, etc.).

Contingencies & Buyer Behavior:  According to NWMLS data for May 12^th - 18th:

·       29% of homes received multiple offers

·       68% of accepted offers included an Inspection Contingency

·       76% included a Financing Addendum

Over 1/4 of sellers that got under contract last week received multiple offers.

Speed to Pending:  Well-priced homes continue to command quick offers:

·       35% of listings from May 4^th - 10th went pending within 7 days

·       50% of listings from April 20^th - May 3rd were pending within 14 days

For homes that recently closed:

·       Average Days on Market: 25

·       Median Days on Market: 8

Pricing Performance:  The right listing, at the right price, still generates strong results:

·       45% sold over asking

·       11% received 5%+ over list

·       5% exceeded asking by 10% or more

·       4% sold for 15%+ over asking

·       However, 28% of sellers received less than asking price, a reminder that today’s buyers are discerning and overpricing can quickly stall momentum.

Market Summary:  While the 2025 market remains healthy, especially for new listings, it’s not the same frenzied pace we saw in 2024. Buyer behavior has shifted slightly. Homes are taking longer to sell, contingencies are reappearing, and pricing precision matters more than ever.

Sellers who invest in presentation, partner with the right broker, and price their homes competitively will continue to find success, even in a market that’s becoming more nuanced.

If you're thinking of selling, let’s talk strategy. The first 7 days still matter more than anything and getting it right from the start is how we win in this market.

As always, thank you for taking the time to read this version of Stats by Kat. Please feel free to reach out. I value your questions and comments! And don’t forget to follow me on Social Media (links are below), as the most up to date information on our real estate market will also be covered in my most recent videos. And check out a variety of playlists on my YouTube Channel.

Since I’ve started creating content in 2023, I’ve put together several hundred videos to help Buyers and Sellers navigate our local real estate market. Here are a couple of the more popular Playlists:

Real Estate Tips for Sellers

Real Estate Tips for Buyers

Katherine Howard | Broker
Windermere Real Estate/HLC
13901 NE 175th Street | Suite 100
Woodinville, WA 98072