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.

“Interest rates for 30-year fixed-rate mortgages declined early in the month, from 6.72% at the end of July to 6.63% a week later, but have dropped relatively slowly since then, ending the month at 6.56%,” said Steven Bourassa, Director of the Washington Center for Real Estate Research at the University of Washington. “Pressure on the Federal Reserve Bank to lower its overnight federal funds rate is expected to result in cuts later this year, but it is unclear that such cuts will lead to significant changes in long-term rates, such as for mortgages.”

Key Takeaways

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%).

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%).

Median Sales 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).

Source: NWMLS 9/4/25