July 2025

Summer is a full season in every sense of the word, between kids' camps, travel, work and everything in between, it flies by. That’s why any chance to slow down on Whidbey Island is such a gift. Recently we soaked in one of those magical late PNW sunsets that make this time of year so special! I hope you're finding your own summer moments to pause and enjoy this incredible stretch of weather.

We’ve been watching inventory grow over the past couple of months, wondering when more competition among sellers would start benefiting buyers. And while active listings are increasing, it’s not a straight forward case of supply and demand. Prices continue to rise because inventory levels remain historically low—but we are seeing meaningful seasonal improvements in the terms buyers can negotiate. According to pending data from Northwest MLS, buyers are getting significantly more breathing room when presenting offers than they had during the spring market’s peak heat.

Here are some key metrics for the Seattle-area:

Listings receiving multiple offers: 28% (down from 42%)
With an escalation addendum: 14% (down from 25%)
With a financing contingency: 65% (up from 49%)
With an inspection contingency: 38% (up from 30%)

The essential takeaway? It’s a little easier to breathe right now if you’re making an offer—and you’re more likely to retain critical protections, especially those covering loan denial due to low appraisal or job loss.

I'm proud to report our listings are performing well and beating these market averages. Of the last couple months, half received multiple offers. And, with our most recent buyer-represented sale, we competed with two other offers and our clients won out, and they weren't the highest price! If this were earlier in the year, there would have surely been 5+ offers to contend with on that one.

Here's a quick recap of where prices are year-to-date in King and Snohomish Counties. More details can be found in the summary charts below.

King County Single-Family prices are up about 2%; condos are up about 7%
Snohomish County: single family prices are up about 3% and condos are up about 1%

Now's a perfect time to start planning for the end of the year. If you or anyone you know is thinking about buying or selling this fall or winter, I'd be honored to help. As always, I'm just a call or text away. -Phillip

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Deep Dive into Seattle:

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Thank You for Your
Recent Review!

“Phillip and Heidi are truly a dream team. If you're looking for realtors you can trust to deliver results, they’re the ones. They sold my condo quickly, even in a challenging market, thanks to their professionalism and sharp execution. From preparing the property for market to managing every detail of the sale, they handled everything impeccably. I had several specific requests that mattered to me, and they addressed each one with care, making the entire process smooth and stress-free.”

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Emmeline T.

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