Team Skally’s Market Minute: Seattle’s Eastside August 2025 

Last month, we officially shifted from a seller’s market into balanced market conditions, where neither buyers nor sellers have a clear advantage. While we remain in a balanced market this month, conditions continue to shift in favor of buyers.

Here’s why:

  • Eastside listings are up 90% compared to last year

  • Closed sales are down 7% year-over-year

You might be thinking, “Is this a bad time to sell?”
 Not necessarily.

Despite the jump in inventory, the median sold price on the Eastside has been surprisingly resilient—down just 2% compared to last year. We're also in the typical seasonal slowdown, which is normal for this time of year.

But here’s some perspective:
If you bought your home at the median price five years ago, it would be worth about 57% more today. That’s a fantastic return—enjoying a great lifestyle and building wealth at the same time. That’s a win. So whenever the time is right for you, the time is right for you. 

So, what’s next?

With so much inventory and fewer sales, will prices pull back further?
We don’t have a crystal ball, but much depends on interest rates. Here’s the current outlook:

  • Interest rates are at 6.5%, down from 6.9% last year

  • If rates continue to drop, we expect values to stabilize or improve

  • If rates stay flat or rise, we could see increased price pressure

The market is always evolving. If you're curious about your home’s current value or want to explore the right time to buy or sell, let’s grab a coffee and chat.

Until next time—may all your lifestyle dreams come true!

Our best to you,
Matt & Christina
Team Skally at Windermere Real Estate

 

Matt & Christina are Team Skally, top real estate agents in the Seattle Metro with expertise in luxury homes on the Eastside including Bellevue, Newcastle, Mercer Island, Renton and Issaquah. Their client testimonials say it all - they deliver exceptional service and record-breaking results. Recognized as top agents on social media by Property Sparks, Diamond Award winners for best client service, Nextdoor’s Neighborhood Faves and regularly featured in online and print publications including Greet - Newcastle & Newport Hills Magazine. In addition to serving clients, Matt and Christina love family time with their two boys and two Goldendoodles as well as volunteering in the community.


 
Team Skally