As spring gets underway, our region’s real estate market is sending mixed signals. March saw inventory climb across the board, yet buyer activity didn’t keep pace with that supply growth. Affordability remains a central theme: mortgage rate sensitivity continues to weigh on decision-making at higher price points, while markets that have seen meaningful price corrections are beginning to show signs of reengagement. The result is a regional landscape that looks quite different depending on where you’re standing.

KING COUNTY 

King County’s median residential sold price was essentially flat year over year at $975,000, but the stability in price masks some hesitation beneath the surface. Active listings jumped 42% from last March, yet closed and pending sales fell 3% and 4%, respectively — a notable disconnect that likely points to continued price and rate sensitivity. Buyers had more options but didn’t enter the market at a faster pace. The condo market reflects a similar mood: the median sold price slipped 7% to $550,000, while active listings grew 25% year over year.

SEATTLE

The Seattle market tells a different story. The median residential sold price fell 6% to $944,000 in March, and that correction seemed to move things along— closed and pending sales rose 7% and 1%, respectively, even as active listings climbed 29%. Increased affordability appeared to draw buyers in despite the expanded inventory. In the condo market, the median sold price dipped 4% to $602,750, with active listings up 17% year over year.

EASTSIDE 

The Eastside continued to navigate market recalibration. The median residential sold price dropped 9% to $1,550,000, while active listings surged 60%. Even so, pending sales fell 15%, suggesting buyers were being highly selective despite having considerably more inventory to choose from. The gap between supply growth and transaction activity could mean more softening ahead. For condos, the median sold price rose 3% to $728,000, though active listings climbed 40% year over year, a level of growth that may test price resilience going forward.

SNOHOMISH COUNTY

Snohomish County saw active listings surge 49% year over year, but demand continued to lag — pending sales fell 8%, and while closed sales edged up 2%, that gain may be difficult to sustain given the pipeline. The median residential sold price declined 3% to $769,950, a modest but telling dip as inventory growth weighs on pricing. In the condo market, the median sold price fell 5% to $501,000, with active listings up 62% year over year, a steep increase, and one that will likely keep downward pressure on prices in the near term.

March’s trends reinforce that we’re in a market that rewards patience and preparation on both sides of the transaction. For buyers, expanding inventory and moderating prices in several markets represent a genuine shift from the conditions of recent years, creating more room to be thoughtful and deliberate. For sellers, strategy has never mattered more as buyers grow more discerning. For expert guidance tailored to your goals this spring, it helps to have a trusted Windermere advisor on your side.