How Seasonality Affects Home Prices in the Seattle Area

Understanding the Seasonal Pulse of King County Real Estate

Seattle’s real estate market—anchored by King County—doesn’t just ebb and flow with interest rates or tech booms. Each season brings its own tempo, shaping home prices and buyer behavior in measurable ways. Let’s dive into the numbers and stories behind the trends so you can make your next move with confidence.

Spring: The Seller’s Market Blooms 🌸

Spring is traditionally the busiest time for King County real estate. In 2023, the median sale price for single-family homes in King County jumped from $775,000 in February to $830,000 by May (NWMLS). Homes sold fast—averaging just 8 days on market in May, compared to 18 in February. With more daylight, blooming gardens, and families planning summer moves, competition heats up. Bidding wars are common, and sellers often receive multiple offers above list price.

Summer: Still Hot, but a Subtle Shift ☀️

Summer remains active, but the fever cools a bit. By July 2023, the median price hovered around $825,000, and homes took about 10-12 days to sell. Inventory peaks as more listings hit the market, giving buyers slightly more choices. However, by late August, activity slows as families take vacations and prepare for the school year. Sellers who missed the spring rush may need to adjust prices or expectations.

Fall: A Window of Opportunity 🍁

Autumn brings a noticeable shift. In October 2023, King County’s median price dipped to $800,000, and average days on market climbed to 16. There’s less competition, but motivated buyers and sellers remain. For buyers, this can mean fewer bidding wars and the chance to negotiate on price or repairs. For sellers, pricing right is crucial—homes that linger into fall often see price reductions.

Winter: The Quiet Season, with Surprises ❄️

Winter is the slowest stretch, but it’s not dead. In January 2024, the median price dipped to $780,000, and homes averaged 23 days on market. Fewer listings mean less competition for sellers, but buyers willing to brave the rain and short days may find deals. Motivated sellers are open to negotiation, and serious buyers can capitalize on less crowded open houses.

Year-over-Year Trends: What’s Changing?

• From 2022 to 2023, King County saw a 4% drop in median prices as interest rates rose, but spring and early summer still brought strong activity.
• Homes listed in March-May 2023 sold 30% faster and for 2-3% more than those listed in November-January.
• Condos and townhomes follow similar patterns, though with slightly less volatility than single-family homes.

Quick Reference: King County 2023-2024 Seasonal Snapshot

• Spring (Mar-May): $830,000 median price, 8 days on market
• Summer (Jun-Aug): $825,000 median price, 10-12 days on market
• Fall (Sep-Nov): $800,000 median price, 16 days on market
• Winter (Dec-Feb): $780,000 median price, 23 days on market

What This Means for You

• Sellers: Listing in spring often yields the quickest sales and highest prices, but well-prepared homes can stand out year-round.
• Buyers: Shopping in fall or winter may offer better deals and less competition, but expect fewer choices.

Final Thoughts

The Seattle area’s market is dynamic, but the seasonal patterns remain remarkably consistent. Whether you’re buying or selling, understanding these rhythms—and the real numbers behind them—can give you a strategic edge in King County’s ever-changing real estate landscape.