Wrapping up a Lackluster Year. The Seattle Condo Market Review, November 2025
We're almost through 2025! I hope your year has been fantastic and you're poised for an even better 2026!
Welcome to the latest edition of the Seattle Condo Market Review. You might have noticed I'm slightly changing the wording of the title to reflect the previous month, since that's the data I'm referencing, as opposed to the month in which I create the report. This is also designed to provide more consistency to the blog feature on my website (recently revamped, check it out). As always, to skip the good stuff and go right to the stats, click here.
As my reports have made painfully clear (I hope) over the past few years, the Seattle condo market has been challenging, to say the least. Thankfully, with help from myself and a few other real estate colleagues, the Seattle Times has done a solid job on reporting about this. You can read their most recent article (featuring me) here. If you can't get past the paywall, there's a similar article (though not featuring moi), here.
Above, I'm tracking the median Seattle condo (not including the newer construction DADU/condo-ized units) since January 2022. As you can see, the chart is very flat. I chose to focus on 2022 since it was in the middle of that year when we really saw interest rates start their rapid ascent.
However, even when I date this back to 2018, the data is still very much the same. Not great.
Redfin posted their 2026 housing market outlook. You can access that here, but it's not filled with any hot takes. Keep in mind, this is their outlook for the entire nation. In next month's report, I'll include my thoughts for the Seattle market in 2026.
Onto the stats: The November 2025 median sale price for Seattle condos registered $573,500. That is down just $1,450 YoY and down just $4,000 MoM. Inventory is up 20.8% YoY and the months of inventory stat increased to 5.41 months from 5.2. Absorption remains very poor.
That's a wrap on 2025! I hope you all have a fantastic Holiday season ahead. I'm looking forward to connecting with you in 2026. Onward!
