The end of our spring market quieted down significantly as warm weather, graduations, and vacations distracted buyers and kicked off our typical summer slowdown. Despite this, Seattle posted modest year-over-year growth in both sales activity and median sales prices. The Eastside saw slight dips in sales prices and activity compared to last spring, but choice homes still sold quickly and most closed at or above their listed prices. Buyers found more room to negotiate, particularly on properties that needed work or otherwise didn’t generate immediate interest.

Our takeaways for Sellers: pricing strategy and early market momentum matter—homes that sell quickly are fetching the highest prices. Preparation and accurate positioning are key to success. For Buyers: There’s more inventory than last year, but the best homes are still moving fast and often over asking. Be ready to act decisively, especially in high-demand areas.

Click or scroll down to find your area report:

Seattle  |  Eastside  |  Mercer Island  |  Condos  |  Waterfront

SEATTLE

Seattle was a medal winner in the Q2 relay! Median sales price in Seattle hit $1.02M, up from $968K in Q2 2024—a 5% increase year-over-year, signaling a healthy and steadily appreciating market. Despite increased inventory, sales activity rose 3% YoY with 2,019 homes sold, reflecting stable demand. Homes that sold within the first 10 days received 105% of asking price, while those on market more than 30 days averaged just 97%, so speed continues to command premium pricing.

Momentum continues to be visible across several neighborhoods. Queen Anne & Magnolia led the city with a 14% price increase, pushing the median to $1.5m—a strong signal of those wanting quiet luxury near the downtown core. Ballard–Green Lake and North Seattle also saw notable gains, up 10% and 9% respectively. Central Seattle recorded a 6% increase in price per square foot and the highest number of units sold among central neighborhoods, showing a rebound in core urban demand. Lake Forest Park was the only area with a significant decline in median price (-9%) suggesting buyer opportunity in the near-north fringe.

Much like the Eastside, inventory jumped to 3,500 new listings in Q2, a 16% increase over Q2 2024, giving buyers more choices and slightly more negotiating room, especially for homes that linger on market.

The Seattle market in Q2 2025 showed measured growth, more listing activity, and resilient demand. Whether you’re buying or selling, strategy, timing, and clarity on your market segment are what will make the difference.

Click here for the full report and neighborhood-by-neighborhood statistics!

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EASTSIDE

There was a listing surge this quarter and that was most significant on the Eastside! 3,194 homes were available—a substantial jump from just 2,509 in Q2 2024. This equates to a 27% increase in supply year-over-year. For buyers, there was more to choose from this quarter coupled with buyers being more selective and price sensitive. While competition is still strong, longer market times and slight price softening in some areas mean buyers have more negotiating power—especially in markets like Redmond and Sammamish.

But don’t rule out the homes priced and prepped well! Sales velocity remained strong, with 67% of homes selling at or above list price, and most (66%) selling within the first 10 days. 39% of homes even sold over asking price. The median sale price across the Eastside was $1.65M, slightly down from $1.67M last year (–1%), showing a stable but price-sensitive market. For those homes with a longer market time (over 30 days) on average, sellers took a 3% negotiation.

Areas like Sammamish (–7%) and Redmond (–13%) experienced the most significant price drops—indicating opportunities for buyers who are priced out of West Bellevue or Kirkland. If we’re talking community standouts, West Bellevue leads the pack in pricing, with a median sale price of $3.75M, up 5% year-over-year, and the highest price per square foot at $1,151. Kirkland saw the largest year-over-year price increase, up 8%, pushing the median to $2.19m. Redmond was the only major submarket to experience a notable increase in number of homes sold (+15%), despite a 13% price drop, suggesting high buyer demand for more affordable options.

Q2 2025 brought more listings and more choices, but the market remains fast-moving and price sensitive. Our takeaways for Sellers: pricing strategy and early market momentum matter—homes that sell quickly are fetching the highest prices. Preparation and accurate positioning are key to success. For Buyers: There’s more inventory than last year, but the best homes are still moving fast. If the home is listed, the seller is ready to make a deal. Whether you’re buying or selling, strategy, timing, and clarity on your market segment are what will make the difference.

Click here for the full report and neighborhood-by-neighborhood statistics!

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MERCER ISLAND

Mercer Island’s Q2 2025 market remains robust, especially for well-positioned single-family homes. As predicted, those homes that were prepped well and priced strategically found serious buyers quickly—many selling within the first 30 days. 64% of homes sold at or above their list price this quarter, a strong signal that sharp pricing and smart timing paid off.

What’s less visible in the headline numbers is that 38 of the homes listed in Q2 are still active today. This speaks to the importance of days on market as a key driver: homes that sold within the first 10 days (71% of sales) received 102% of asking price, while those on the market longer than 30 days fetched just 96%. A 4% negotiation window suggests buyers are discerning, and sellers may be responding to increased competition while planning for a typical summer slowdown.

With 72 residential sales, Q2 showed a healthy level of activity, but overall urgency softened, leading to downward pressure on pricing. The median sales price slipped to $2,530,000 from $2,937,000 in Q1, showing that the early-year momentum didn’t carry through Spring. Still, when compared to Q2 2024’s $2.5m, pricing has remained remarkably resilient.

Neighborhood standouts: the Westside led the market with strong price per square foot and intense buyer interest – 5 of the 6 homes sold within the first 10 days. The North End saw the highest sales volume with 14 homes sold, proving to be a consistent favorite. The South End offered 7 sales at a reasonable price per square foot of $722 vs. the North End’s $885 per foot.

While the data shows a seller-leaning market, buyer demand is unpredictable. With an uncertain Fall market ahead, sellers should prepare for longer market times, and bring patience along with their listing prep. Buyers, on the other hand, should know that opportunities exist across the island, especially in the condo sector, where activity is softer and pricing may be more approachable for those looking to establish a foothold on Mercer Island.

Click here for the full report and neighborhood-by-neighborhood statistics!

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CONDOS – SEATTLE & EASTSIDE

Condos remained an accessible entry point for buyers across our region, with Q2 marking a strong showing. In Seattle, the most robust demand was found in more affordable neighborhoods like South and North Seattle—North Seattle alone saw a 24% jump in median price. Meanwhile, the luxury condo segment in Downtown Seattle moved more slowly, with average price per square foot landing at $794.

On the Eastside, the condo market felt uneven but held its value overall. While pricing trends varied by submarket, Eastside condos continued to outperform Seattle in overall price strength. Woodinville and Redmond stood out with impressive gains, while Mercer Island saw a softer quarter with just four sales and a median price dipping to $618K.

Sales activity rose 7% on the Eastside and 5% in Seattle compared to last year. Homes that sold within the first 10 days garnered the most attention, suggesting well-priced listings are still commanding strong interest. In Seattle, 53% of condos sold at or above list price; on the Eastside, that number climbed to 58%—a clear sign that buyers are negotiating in a competitive environment and pricing remains fluid.

With the single-family market still tight, condos—particularly those priced under $700K—continue to offer buyers a compelling path to homeownership in desirable neighborhoods.

Check out area-by-area details in the full condo report.

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WATERFRONT

Lake Sammamish and Eastside waterfront saw a busy Q2 with 13 and 9 sales respectively. After a big Q1, Seattle waterfront sales slowed in Q2 with just 4 sales (as opposed to 10 last quarter). Mirroring the overall market, waterfront saw some softening on price—the vast majority of homes sold at or below their list prices with just a few choice properties attracting bidding wars.

Yarrow Point garnered the largest sale price of $13 million for an immense Cape Cod inspired estate encompassing over half an acre, 7,465 sq. ft. of interior living spaces, and 82 feet of prime low- to no-bank waterfront. Lake Sammamish offered the best bargain—an original 1975 lake house on 1/3 acre with 50 feet of waterfront that was snagged for $2.6 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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Find a Home | Sell Your Home | Property Research

Neighborhoods | Market Reports | Our Team

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative, and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77^th 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. Seattle cover photo courtesy of Codi Nelson, by HD Estates Photography. Eastside cover photo courtesy of Fred Fox & Julie Wilson; by Bobby Erdt, Clarity Northwest Photography. Mercer Island cover photo courtesy of Janet Bell & Julie Wilson; by Bobby Erdt, Clarity Northwest Photography. Condo cover photo courtesy of Luke Bartlett, by Kealin Branson, Clarity Northwest Photography. Waterfront cover photo courtesy of Nancy LaVallee, by Amaryllis Lockhart, Clarity Northwest Photography.

While Q3’s summertime market slowed a bit from the frenetic spring pace of Q2 (we call this the “Summer Slump”), median home values are up across the region compared to this time last year. Most homes still sold at or above their listed prices in the first 10 days on market. However, buyers had more choice with higher inventory levels AND some room to negotiate on price for those homes that stayed on the market past the 10-day mark.

What does this mean for the rest of 2024? We typically see buyer activity decrease as we head into the holidays, and of course, it’s also election season. If you’ve been considering a purchase and are of the mindset that you don’t want to compete, THIS IS YOUR MARKET! For sellers the average days on market in Q3 was 20 for Seattle and 18 for the Eastside. Which means: if your price didn’t attract a buyer in the first two weeks, it’s probably time to re-evaluate. Interest rates are better than they’ve been since mid 2022. Quality inventory is being presented to the market. If you see a great house, be prepared to move quickly. Opportunity Knocks.

Click or scroll down to find your area report:

Seattle  |  Eastside  |  Mercer Island  |  Condos  |  Waterfront

SEATTLE

Lots of good news in Seattle during our post-summer glow. Prices are up year over year by 5% to $937,000. While we’re still under the peak median of $1,000,000 set in Q2 of 2022 and $970,000 from last quarter, this is so typical for Q3. We’ve seen it every year from Q2 to Q3 going back to 2018 (except in 2020 largely because the real estate market shut down completely in Q2). Buyers had lots of choice, with more inventory to end the quarter than we’ve had since Q3 of 2022. Even with these buyer bright spots we still saw 56% of homes sell in the first 10 days and 34% over the asking price.

Average price per square foot and median price were in positive territory across the board this quarter in all neighborhoods. Richmond Beach/Shoreline and Madison Park/Capitol Hill both saw larger than typical gains in $/sq.ft. (11%) and median price (10%) respectively. North Seattle appeared to be the “hottest” market around with 64% of homes selling in the first 10 days. Again, really great numbers in Seattle given that Summer Slump was in full effect.

Click here for the full report and neighborhood-by-neighborhood statistics!

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EASTSIDE

The Eastside continues to be the region’s crown jewel of real estate. Median prices are up again year over year by 8%. Most of us felt what we lovingly call the Summer Slump, and the numbers confirmed this. Prices (median) AND transactions were down 6% overall when compared against Q2 of 2024. That’s a $100,000 dip in median sales price if you missed the spring market. This is absolutely typical for the PNW and Metro King County. Seasonally our peak seasons are spring and post Labor Day/pre-holiday. This year that may be disrupted by election distractions. Time will tell if it’s a market lacking in consumer confidence or simply existential distraction.

The micro markets across the Eastside are fairly homogeneous. Among the 8 neighborhoods that we track, the median price swing was 3-11% but all in a positive direction. Total transaction volume is up 18% signaling that eventually life changes will trump a 2.5% interest rate. While homes were mostly selling in the first 10 days, multiple offers/paying over asking price were not the norm. In fact, the split between at, above, and below was relatively even.

Click here for the full report and neighborhood-by-neighborhood statistics!

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MERCER ISLAND

Fall has come for Mercer Island. The summer construction on Island Crest is done, school buses are out en force, and those filtered views that only come out in winter are starting to show. It’s time to look back fondly at the summer real estate market: prices are up YOY by 3% to $2,440,000 to end the quarter. This is likely more about trailing gains from a robust spring than it is about actual gains from Q3, given the indicators. A whopping 40% of homes sold under list price. It took 40% longer than 10 days to sell (not necessarily the same 40%) but only for about a 2% discount. This suggests that seller pricing and buyer motivation are evenly matched. There were 50 active listings at end of quarter, the most since Q2 of 2020 when real estate shut down completely.

Focusing on neighborhoods, The Lakes, Mercerwood, Mercerdale, and Mercer Island Estates saw 100% of homes sell in the first 10 days for an average of 102% of sales price. This goes to show that in any market, despite overall conditions, there will always be “hot homes.” Mid-Island had the most overall activity with 22 of the 68 sales across the Island. These occurred at $865/foot and 16 of the 22 homes sold in the first 10 days for at or above list price.

Click here for the full report and neighborhood-by-neighborhood statistics!

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CONDOS – SEATTLE & EASTSIDE

Once again, we’re rooting for the Seattle condo market as it proves to be the little engine that could! Chugging along toward modest price gains even when the rest of the market seems to be struggling a bit, Seattle condo prices have held steady for the last 6 quarters, with mostly positive change. Eastside condos hit a median price all-time high in Q2 at $709,000. We’re off of that a touch to $690,000 in Q3, to be expected after a beautiful summer. The Eastside ended the quarter with 29% more listings than this time last year and only 13% more sales. Mounting inventory tends to lead to price softening. Overall, nearly 50% of condos sold for at or above their list price!

When you compare the charts in the report, there is admittedly more positive news on the Eastside than in Seattle. Overall, we’re encouraged that despite many neighborhoods experiencing a drop in sales, average price per sq. ft. held flat and median price is up overall. On the Eastside it’s still great news all around for the market, especially in West Bellevue with 26% median sales price gains and total sales up 55%.

Friendly PSA: PLEASE remember that there is a ‘first rung’ of the property ladder. CONDOS create an affordable option to start building wealth at a younger age. It’s an important real estate product that has been overlooked. I am hopeful that enterprising young homeowners return to the condo market in droves this next real estate cycle.

Check out area-by-area details the full condo report.

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WATERFRONT

While a bit slower compared to last quarter, waterfront sales remained strong in Q3 with 10 on the Eastside and 8 in Seattle. Lake Sammamish moderated in summer with just 5 sales compared to the crazy 15 we saw in spring, while Mercer Island stayed fairly steady with 4 (compared to 6 in spring). The highest sale was nearly $18 million for an immense Wendell Lovett designed 6,920 sq. ft. home on 125 feet of prime “gold coast” waterfront in Medina. The most modest sale was also on the Eastside—an original 1943 cottage on 53 feet of west-facing waterfront in Kennydale.

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.

↑ Back to top

Find a Home | Sell Your Home | Property Research

Neighborhoods | Market Reports | Our Team

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative, and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77^th Ave SE, Mercer Island, WA 98040 | (206) 232-0446
mercerisland@windermere.com

© Copyright 2024, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service and Trendgraphix, and deemed accurate but not guaranteed. Seattle cover photo courtesy of Kathryn Buchanan and Brandon Larson, Clarity Northwest Photography. Mercer Island cover photo courtesy of The Sirianni Group and Clarity Northwest Photography. Condo cover photo courtesy of Julie Wilson and Bobby Erdt, Clarity Northwest Photography. Waterfront cover photo courtesy of Anni Zilz and Andrew Webb, Clarity Northwest Photography.