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Summer brought balance to the Greater Seattle housing market, with most homes taking longer to sell and often going for below list price. The most desirable homes are still selling above list price—but it’s safe to say that the days of multiple offer frenzies are behind us for the present. Median sales prices held fairly steady with a modest 4% year-over-year gain in Seattle and slight 1% dip on the Eastside.
Our advice to home sellers is genuine and has carried over from Q2: well-priced, well-prepared homes still move quickly, but overall, the frenzy of spring has eased into a steadier rhythm. The first 10 days matter more than ever. For buyers, with more listings than last year and slower sales coupled with lower interest rates, you have a selective advantage and opportunity to find a great property. If single family homes are starting to feel out of reach, don’t overlook the townhome and condo market. It’s been a fantastic option for buyers looking for value and convenience!
Click or scroll down to find your area report:
Seattle | Eastside | Mercer Island | Condos | Waterfront
SEATTLE
Seattle went from a hot spring to a balanced summer! And boy, did Seattle show off when it comes to growth in the numbers. While the summer market shifted to a steadier pace, the city’s median home price landed at $980,000, 4% above last year but slightly below Q2’s peak. Homes took longer to sell, and bidding wars eased as buyers gained more breathing room much like the Eastside. Still, well-priced listings in popular neighborhoods like West Seattle and North Seattle continued to move quickly and often close to asking price.
Inventory remains healthy, giving buyers options and sellers the chance to stand out through pricing and presentation. Urban cores such as Capitol Hill (+16%) and North Seattle (+18%) held firm, while areas like Ballard and Queen Anne saw small seasonal dips. 48% of homes sold within the first 10 days at their listing price or above, 27% of which experienced multiple offers. Overall, Seattle’s housing market remains strong—just more measured and thoughtful as we head into fall.
Click here for the full report and neighborhood-by-neighborhood statistics!
EASTSIDE
After a bustling spring market, summer brought a welcome dose of balance across the Eastside. Remember, last quarter, 66% of homes sold at or above their listing price in the first 10 days. This quarter, under half the properties (43%) had the same results. Median home prices held steady at $1,560,000, just 1% below last year, while the pace of sales slowed as buyers gained breathing room. With fewer bidding wars and longer market times, many buyers had the opportunity to compare options and negotiate.
Rising inventory and selective buyers mean strategy matters more than ever. Sellers who price accurately and make a strong first impression are still achieving great results, especially in desirable neighborhoods like West Bellevue and Kirkland. Buyers, meanwhile, are finding opportunities in Redmond (+ 8%), and East Bellevue (+ 26%) as prices soften slightly. The Eastside market remains healthy, just more measured and thoughtful as we head into fall. There is a luxury resilience as well—West Bellevue and Mercer Island held firm proving that well positioned homes still move if priced right.
Click here for the full report and neighborhood-by-neighborhood statistics!
MERCER ISLAND
After a lively first half of 2025, Mercer Island’s market eased into a steadier rhythm this summer. The median sale price held at $2,413,000, which was nearly identical to last year (but down from last quarter’s $2.5M median price) with 70 total sales vs. 72. Fewer homes sold in bidding wars or within the first 10 days, but well-priced, move-in-ready listings continued to attract strong attention. The North End and East Seattle neighborhoods led in pricing, with select properties exceeding $5M, while most of the Island maintained stable values.
The shift from spring’s fast pace to summer’s calmer tempo signals a more thoughtful market on Mercer Island. Sellers can expect longer market times but solid results when listings are priced strategically and presented beautifully. Buyers, meanwhile, will find a bit more room to negotiate and a wider selection across price points (60% of the homes that sold on the island sold below their original listing price) particularly appealing as single-family inventory remains limited region wide. Mercer Island continues to demonstrate both resilience and lasting desirability heading into fall.
Click here for the full report and neighborhood-by-neighborhood statistics!
CONDOS – SEATTLE & EASTSIDE
After a busy spring, Seattle area condos entered a steadier phase this summer. Median prices eased slightly to $600,000 region-wide, while average price per square foot dipped 3%. Fewer bidding wars and longer market times gave buyers more room to negotiate, especially in core city neighborhoods. Even so, affordable communities like Ballard (+52%!) and South Seattle (+47%) remained bright spots, showing that well-priced listings continue to draw attention. Specifically, of 157 condo sales in Ballard/Greenlake, 60 of those sales were new construction, a hot segment of the market right now.
On the Eastside, condos held their value and continued to offer a more attainable path to homeownership than single-family homes. Woodinville and Mercer Island posted notable price gains, while overall competition moderated from spring levels. With condos under $700K still in good supply, there’s a strong opportunity for buyers seeking value and location without sacrificing quality.
Our advice to condo sellers: price realistically, present well and have patience with the longer market times, especially if you’re selling a downtown luxury product. For buyers, this is the best condo buying environment we’ve seen in over a year. With more listings than last year and slower sales coupled with lower interest rates, you have a selective advantage and opportunity to find a great property.
Check out area-by-area details in the full condo report.
WATERFRONT
Seattle waterfront picked up this summer with 10 sales (as opposed to just 4 in the spring). Eastside and Lake Sammamish also stayed busy with 11 and 9 waterfront sales respectively. Only 2 homes sold above their list prices—the vast majority sold below list, with only a few selling right at the asking price.
West Bellevue saw the highest sale, with a nearly 9,000 sq. ft., shy half-acre estate on 80 feet of Meydenbauer Bay waterfront fetching over $20 million. The most affordable home was a cozy bungalow on 100 feet of Lake Sammamish waterfront that went for $1.5 million.
This brief overview of the entire Seattle-Eastside private waterfront market, including Mercer Island and Lake Sammamish, illustrates the trends occurring in our region over time. This data is interesting and insightful but cannot replace an in-depth waterfront analysis with your trusted professional.
View the full waterfront report
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2737 77th Ave SE, Mercer Island, WA 98040 | (206) 232-0446
mercerisland@windermere.com
© Copyright 2025, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service and Trendgraphix, and deemed accurate but not guaranteed. Mercer Island cover photo courtesy of The Sirianni Group; by Andrew Webb, Clarity Northwest Photography. Condo cover photo courtesy of Luke Bartlett, by Matthew Gallant, Clarity Northwest Photography.
