Seattle median list price at $850K even as price cuts spread

Price reductions swept through 44.7% of active listings in the Seattle-Tacoma-Bellevue metro during the week ending Nov. 7, 2025, as the region’s median list price held at $850,000, nearly double the national median of $435,000. The widespread pricing adjustments signal a recalibration in one of the nation’s most expensive housing markets, where sellers are adapting strategies to maintain transaction momentum.

Despite the high rate of price cuts, the metro absorbed 652 homes during the week while adding 399 new listings to the market. The region’s 6,472 active listings represent just 2.6 months of supply at the current sales pace, keeping conditions firmly in seller-favorable territory.

Inventory and pace

Seattle’s housing inventory dynamics reveal a market operating at premium levels across all metrics. The median days on market stands at 63 days, moving 14 days faster than both the Washington state average of 77 days and the national pace of 77 days. The 2.6 months of supply sits below the state’s 2.9 months and the national 2.9 months, reinforcing tight inventory conditions despite the elevated pricing.

The 11.7% relisted rate indicates some properties are cycling back onto the market after initial attempts to sell. Meanwhile, only 1.6% of active listings increased their asking prices during the week, contrasting sharply with the 44.7% that reduced prices.

Pricing

Seattle’s $850,000 median list price towers above comparative markets, exceeding Washington state’s $655,000 median by 30% and the national $435,000 median by 95%. The metro’s price per square foot reached $410, surpassing the state average of $321 by 28% and nearly doubling the national figure of $213.

The pricing premium persists even as sellers adjust expectations through reductions. The combination of high absolute prices and widespread cuts creates negotiating opportunities for buyers while maintaining overall market values well above regional and national benchmarks.

What to watch

Monitor the 44.7% price reduction rate as a leading indicator of seller sentiment in the premium market. Track whether the 652 weekly absorption rate sustains as pricing adjustments continue. Watch the 2.6 months supply metric for any shift toward more balanced conditions, particularly if new listings outpace sales in coming weeks.

Use the 63-day median DOM benchmark to gauge market velocity changes. Track the $410 per square foot metric to identify whether premium pricing holds as sellers negotiate. Monitor the gap between Seattle’s $850,000 median and state/national comparisons for signs of convergence or continued divergence.

HousingWire used HW Data to source this story. To see what’s happening in your own local market, generate a housing market report. For enterprise clients looking to license the same market data at a larger scale, visit HW Data.