Seattle’s Resurgence and More From the 2025 Market Report

I’m excited to share Realogics Sotheby’s International Realty’s 2025 Market Report, a collection featuring expert analysis on housing policies, market trends, economic forces, and year-over-year analysis of the most relevant data points in the Puget Sound region’s markets.

If you’re curious about Washington State housing policies shaping the future of the market, dive into RSIR’s Executive Director of Land Division Tadashi Shiga’s Q&A which provides context to why the bill is so groundbreaking and, as Tadashi puts it, “the most impactful upzone in Washington State history in a generation.” In short, the long-term goal is to provide more affordable housing in the state, which is currently facing a housing crisis due to a lack of affordable inventory and “the missing middle.” The bill will allow for properties that were previously only zoned to be single-family residences to build duplexes, triplexes, and fourplexes, in certain cases.

The report’s neighborhood snapshots, providing relevant data and year-over-year comparisons for the region’s counties give insightful viewpoints of the way the market trended in both residential and condominium markets last year. Most communities and cities saw price growth, with increases in the median sales prices.

The report’s “5 Trends to Watch in the New Construction Market” speaks to the resurgence that downtown Seattle is currently experiencing, with city improvements, like the completion of the Overlook Walk project and Convention Center expansion, improved safety, and many workers returning to in-office schedules after years of remote work. As Vice President of New Developments Dehlan Gwo touches on, the condominium market—an excellent way for first-time buyers, retirees, vacation-home searchers, and investors to own an in-city property—will face a major lack of supply in the future as “no major condo developments have broken ground in five years.” If you’ve been looking for an opportune time to purchase a Seattle condominium with a great opportunity for long-term growth, now could be the perfect moment.

I attended the 20th annual State of Downtown event hosted by the Downtown Seattle Association on February 25 to learn more about where the city is going and growing. The event only convinced me further of Seattle’s positive progress. Hearing from Seattle Mayor Bruce Harrell, President and CEO of Downtown Seattle Association Jon Scholes, keynote speaker Marc Dunkelman, and special guest Washington State Governor Bob Ferguson share about the projects completed and in the works reminded me of all the reasons I love the city—for the people, the culture, and unique features that you can’t find anywhere else in the world. The Overlook Walk alone boosted pedestrian numbers by 140% upon completion compared to the week before; Seattle’s International Film Festival saw its highest number of attendees since before the pandemic; and there are more residential properties under construction than any major downtown area west of Chicago. Learn more about the city’s biggest wins here.

With spring officially here, the city experiencing a revitalization, and the market about to heat up, now is an excellent time to make a savvy purchase or sale in Seattle. Reach out to me today to discuss the report findings, Seattle news, or your real estate goals.