Seattle, WA Real Estate Market

With a median sale price of $1,125,000 running significantly above the median list price of $899,999 and homes selling in a median of just 7 days, sellers are in a commanding position right now. Active inventory of only 208 homes means competition among sellers is limited, making this one of the most favorable listing environments available.

Buyers need to be prepared to move fast in this market, as the median days on market is only 7 and the median sale price of $1,125,000 reflects offers coming in well above the list price of $899,999. Entry points do exist at lower price tiers, with 2-bedroom homes at a median of $699,000 and 1-bedroom homes at $425,000, so getting pre-approved before touring is essential.

The median rent of $2,395 against a median sale price of $1,125,000 reflects a gross rent yield of roughly 2.55%, which is modest and suggests this market rewards long-term appreciation more than immediate cash flow. Smaller units may offer better yield potential, as studio rentals start at $1,335 per month and 1-bedroom purchase prices come in at $425,000, producing a more competitive return profile within the same zip code.

The current 30-year fixed mortgage rate of 6.37% and 15-year rate of 5.72% are significant factors when financing a $1,125,000 median-priced home, as monthly principal and interest on a 30-year loan at 6.37% with 20% down would exceed $5,600. Buyers who can qualify for the 15-year option at 5.72% will pay considerably less interest over the life of the loan, though the higher monthly payment requires strong income to support at this price point.