Seattle sees big spike in home sales, but listings lag behind
The greater Seattle area ranked among the top five U.S. metro areas for year-over-year gains in home sales last month, according to the latest RE/MAX National Housing Report.
Home sales in the region surged 5.3% compared to March 2024 — a sharp turnaround that signals renewed buyer confidence.
Keep reading to learn more about this latest market report and what's next for home buyers and sellers.
Home sales rebound, defying inventory crunch
What they're saying:
Seattle logged 3,787 closed home sales in March 2025, up from 3,598 during the same month last year. The boost places the Emerald City fifth nationally for annual transaction growth — behind only San Francisco, Fayetteville, AR, Dover, DE and Las Vegas.
Despite the uptick in buyer activity, Seattle remains one of the most inventory-starved housing markets in the country. The metro now ranks third nationally for the lowest months’ supply of inventory at just 0.9 months — far below the 5 to 6 months considered balanced.
Active inventory did increase more than 55% year over year, with 6,191 homes on the market in March. Still, the surge in demand continues to outpace supply.
A sold sign is posted in front of a home at a new housing development May 4, 2009, in South San Francisco, Calif. (Justin Sullivan/Getty Images)
Prices hold steady as buyers return
By the numbers:
While the number of new listings rose 12.7% from a year ago, the median price of homes sold in the greater Seattle area has remained largely flat.
In March, the median sale price was $730,000, a 0.1% increase from last year. The list-to-close price ratio held at 101%, suggesting that sellers continue to receive competitive offers.
Homes also sold more quickly. The average time on market dropped to 50 days, a 15.7% decrease from February and 15% higher than the same time last year.
What’s next for Seattle buyers, sellers?
Why you should care:
According to John Manning, managing broker at RE/MAX Gateway, buyer interest has returned to full force — but sellers remain hesitant. While spring typically brings a rush of new listings, many homeowners seem reluctant to put their properties on the market this year.
"Just when we thought the 2025 spring market was a non-starter, buyers re-emerged in droves," Manning said in the report. "Unfortunately … we remain in a supply-starved market overall."
Whether the warmer months will bring relief for frustrated buyers remains to be seen. According to Manning, May and June could be key in determining how balanced — or strained — the market becomes heading into summer.
The Source: Information in this story came from the RE/MAX National Housing Report.
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