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SEATTLE - A surge in active listings and a slight dip in mortgage interest rates provided a welcome measure of relief for prospective Seattle home buyers in October, according to a report released Wednesday by the Northwest Multiple Listing Service.
The October 2025 Market Snapshot showed that the number of properties listed for sale across NWMLS counties jumped 27% year-over-year, giving buyers the most options seen in the market since fall 2024.
Keep reading to learn more about this latest report and what it means for potential buyers and sellers.
Key market trends: listings and prices
What they're saying:
The total number of active listings on the market reached 18,791 at the end of October, a significant increase from 14,795 a year ago.
Twenty-four of the 27 counties saw a double-digit percentage increase in available inventory. Thurston County led the surge, reporting a 49% increase, followed by Snohomish County, which saw a 42.2% jump.
This increase in inventory comes as the 30-year fixed mortgage rate continued to trend lower, ending October at 6.17%, the lowest level since early October 2024.
Despite the growing options, median sales prices remain high, with the median sales price for residential homes and condominiums in WA at $640,000. This marks a 1.5% decrease from the median price of $650,000 in October 2024. Compared with September, however, the median price increased 1.5%.
The three counties with the highest median sales prices were King at $887,300, San Juan at $764,750 and Snohomish at $739,500.
Closed sales still constrained by affordability
By the numbers:
The year-over-year figures demonstrate that affordability challenges continue to constrain transactions, despite the increasing inventory. The number of closed sales fell 4% year-over-year, from 6,479 to 6,222.
Compared to September 2025, however, the number of closed sales increased slightly by 0.8%, while median prices also saw a modest 1.5% bump.
A "for sale by owner" sign stands outside a home. (Daniel Acker/Bloomberg via Getty Images)
Consumer activity and down payment assistance
Big picture view:
Broker activity, a key indicator of consumer interest, saw some mixed signals. The number of property showings scheduled through NWMLS-provided software was 106,980, an 11.2% drop from September, but a 3.4% increase from October 2024.
On a positive note: For first-time or low-income buyers, 73.9% of listings in the NWMLS database, totaling 20,646 properties, were eligible for the Down Payment Resource program, a 21.1% increase year-over-year. This suggests more listings are falling into categories that qualify for various down payment assistance programs, providing a potential path for buyers struggling with upfront costs.
The Source: Information in this story came from the Northwest Multiple Listing Service.
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