Market Update | September 2025
Dog Days of August Cool Sales but Expand Opportunities for Buyers
Published September 4, 2025 | Courtesy of NWMLS
Market Recap
In August, both active listings and home sales declined compared to July—by 2.7% and 7.7%, respectively—across the 27 counties in the NWMLS coverage area. This slowdown was largely driven by weaker activity in King and Snohomish counties. Compared to the same time last year, listings rose by 30.8%, but sales fell by 5.7%, indicating continued stagnant buyer demand. Median home prices remained flat month-over-month and increased just .8% year-over-year.
Active Listings
There was a 30.8% increase in total number of properties listed for sale year-over-year, with 20,219 active listings on the market at the end of August 2025, compared to 15,453 at the end of August 2024. When compared to the previous month, active inventory decreased by 562 listings (-2.7%), down from 20,781 in July 2025.
The number of homes for sale year-over-year increased throughout the NWMLS coverage area, with 25 out of 27 counties seeing a double-digit year-over-year increase. The six counties with highest year-over-year increases in active inventory for sale were Ferry (+63%), Snohomish (+50.1%), Jefferson (+47.3%), Clallam (+46.3%), Columbia (+45.8%), and Thurston (+38.9%).
Year Over Year Active Listings
Island, King and Snohomish County
New Listings
NWMLS brokers added 8,730 new listings to the database in August 2025, a year-over-year decrease of 2.4% compared to August 2024 (8,941). When compared to the previous month (July 2025), new listings decreased by 16.2%, when 10,418 listings were added to the NWMLS database.
When looking at the 27 individual counties in NWMLS’s primary service area, the number of new listings increased year-over-year in 14 counties, decreased year-over-year in 12 counties, and did not change in 1 county (Adams). The six counties with the largest year-over-year increases were Okanogan (+28.6%), Island (+23.5%), San Juan (+19.5%), Grant (+15.6%), Columbia (+14.3%), and Jefferson (+10.8%).
Year Over Year New Listings
Island, King and Snohomish County
Pending Sales
There were 7,613 residential units & condo units under contract in August 2025, an increase of 1.1% when compared to August 2024 (7,527). When compared to the previous month, the number of pending listings decreased by 1.9%, down from 7,764 listings under contract in July 2025.
Closed Sales
The number of closed sales decreased by 5.7% year-over-year (6,341 in August 2025 compared to 6,727 in August 2024). When compared to the previous month, the number of closed sales decreased by 7.7%, down from 6,867 sales in July 2025.
15 out of 27 counties saw a decrease in the number of closed sales year-over-year, while 9 saw an increase, and 3 showed no change. The six counties with the largest increases were Clallam (+16.3%), Okanogan (+16.1%), Grant (+11.5%), Lewis (+8.3%), Island (+7.9%), and Douglas (+5.1%). The total dollar value of closed sales in August 2025 for residential homes was $4,669,643,977 and was $495,173,759 for condominiums ($5,164,817,736 in total).
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 a little longer than 3 months (3.19) to sell every home that is active in the NWMLS inventory. The six counties with the lowest months of inventory in August 2025 were: Kitsap (2.13), Snohomish (2.38), Thurston (2.54), Pierce (2.58), King (2.86) and Clallam (3.28).
Year Over Year Months of Inventory
Island, King, and Snohomish County
Median Price
The median sales price for residential homes and condominiums sold in August 2025 was $650,000 — a slight increase of .8% when compared to August 2024 ($645,000). Compared to the previous month, the median price remained unchanged ($650,000 in July 2025).
The three counties with the highest median sale prices were San Juan ($1,050,000), King ($875,000), and Snohomish ($755,000), and the three counties with the lowest median sale prices were Ferry ($250,000), Columbia ($319,000), and Grays Harbor ($323,500).
