Seattle’s Housing Market: Prices Soar and Buyers Scramble!

Seattle’s housing market is hotter than the summer sun in July! In June 2025, median home prices surged to $935,000, marking a whopping 10% hike compared to last year. This is the highest point we’ve seen in five years, leaving many prospective buyers wondering if they should cash in their chips or just drown their sorrows in a cup of local coffee. Experts suggest that while there are more homes available now than in the past, they still aren’t enough to satisfy the rampant demand fueled by a surge of new workers in town.

The data from Redfin definitely shows a trend: home prices tend to dip in January only to bounce back during the summer months, but this year, it feels like the springs are wound especially tight! Interestingly, while about 8.5% of U.S. homes were valued above a million in 2024, Seattle’s rate took a turn for the extravagant at 34.4%. It seems that if you’re not in the million-dollar club, you’ll need to brace yourself for a wild bid-off!

So, what does this all mean for Seattle’s future? For many, the dream of homeownership may feel like it’s slipping further out of reach. But then again, a housing market on fire also means increased investment and development opportunities. Is it time to roll the dice and splurge, or should you sit tight and watch the show unfold from the sidelines? Let’s hear your thoughts in the comments below—are you feeling optimistic or skeptical about Seattle’s real estate scene?

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