Market Update | April 2025
Slow Start to Prime Buying Season in the Marketplace
Published May 6, 2025 | Courtesy of NWMLS
Market Recap
As spring gets underway, inventory levels are high but the pace of sales is relatively slow. The number of active listings showed double-digit year-over-year increases in most counties when compared to April 2024, demonstrating that homeowners are primed and ready to sell.
Buyers were granted a bit of a reprieve as mortgage rates stayed relatively consistent throughout April, finishing out the month at 6.76% – the same rate as the end of March 2025. In addition, the median sales price for residential and condominium sales stayed virtually unchanged from March 2025, increasing from $649,999 to $650,000 in April 2025.
“As the number of sellers continues to outpace buyers, it is not surprising that price growth has slowed,” said Steven Bourassa, director of the Washington Center for Real Estate Research (WCRER). Recent media coverage identifies not only socioeconomic uncertainties such as tariffs and inflation, but also the willingness of both buyers and sellers to make concessions as potential factors in final sales prices in the last month.
Active Listings
There was a 47.4% increase year-over-year in the total number of properties listed for sale in the NWMLS service area. There were 14,459 active listings on the market at the end of April 2025,compared to 9,813 at the end of April 2024.When compared to the previous month, active inventory increased by 2,819 listings (+24.2%), up from 11,640 in March 2025.
The number of homes for sale year-over-year increased throughout the NWMLS coverage area, with 24 out of 26 counties seeing a double-digit year-over-year increase. The six counties with the highest increases in active inventory were Snohomish (+84.8%), Columbia (+76.9%), King (+71.3%), Clallam (+70.7%), Whatcom (+68.1%) and Grant (+59.8%).
Year Over Year Active Listings
Island, King and Snohomish County
New Listings
NWMLS brokers added 10,858 new listings to the database in April 2025, a year-over-year increase of 12.7% compared to April 2024 (9,636). When compared to the previous month (March 2025), new listings increased by 18.5%, when 9,161 listings were added to the NWMLS database.
The number of new listings increased year-over-year in 23 of 26 counties. The six counties with the largest year-over-year increases were Columbia (+175%), Adams (+64.7%), Jefferson (+52%), Clallam (+36.5%), Douglas (+34.9%), Pacific (+32.2%), and Whatcom (+30.9%).
Year Over Year New Listings
Island, King and Snohomish County
Pending Sales
There were 7,435 residential units & condo units under contract in April 2025, a decrease of 4.6% when compared to April 2024 (7,792). When compared to the previous month, the number of pending listings decreased by 2.1%, down from 7,593 listings under contract in March 2025.
Closed Sales
The number of closed sales slightly increased by 0.7% year-over-year (5,887 in April 2025 compared to 5,847 in April 2024). When compared to the previous month, the number of closed sales increased by 8.9%, up from 5,406 sales in March 2025.
10 out of 26 counites saw an increase in the number of closed sales year-over-year. The six counties with the largest increases were Grays Harbor (+54%), Kittitas (+44.9%), Clark (+36.9%), Island (+29.9%), Chelan (+28.9%), and Skagit (+23.5%). The total dollar value of closed sales in April 2025 for residential homes was $4,393,208,459 and was $523,944,227 for condominiums $4,917,152,685 in total), an increase of 1.2% when compared to April 2024.
Months of Inventory
A balanced market is considered to be 4 to 6 months by most industry experts. At the current rate of sales, it would take around two and a half months (2.46) to sell every home that is active in the NWMLS inventory. The six counties with the lowest months of inventory in April 2025 were Snohomish (1.58), Kitsap (1.82), Pierce (1.93), Thurston (1.98), King (2.23), and Skagit (2.23).
Year Over Year Months of Inventory
Island, King, and Snohomish County
Median Price
Overall, the median price for residential homes and condominiums sold in April 2025 was $650,000, a slight decrease of 0.2% when compared to April 2024 ($651,000). When compared to last month, the median price did not change ($649,999 in March 2025).
The three counties with the highest median sale prices were King ($907,000), Snohomish ($755,500), and San Juan ($665,000), and the three counties with the lowest median sale prices were Okanogan ($289,000), Columbia ($305,000), and Adams ($310,000).
