Seattle & Eastside Market Report

Key Takeaways

1. 1

   ZHVI fell month-over-month for the second straight month across all reliable cities, and the declines accelerated

   Shoreline -1.10%, Seattle -0.89%, Kirkland -0.87%, Bothell -0.70% — erasing gains back to late 2024 levels in some cities. This is the clearest signal yet that rising rates are cooling appreciation.

2. 2

   Sammamish flipped from the hottest market in April to one of the softer ones in May

   above-list close rate dropped from 70.3% to 37.5%, inventory nearly doubled (95 → 140 listings), and months of supply jumped from 1.5 to 2.5 — the fastest single-month pace reversal of any reliable city this spring.

3. 3

   Renton bounced back hard

   volume surged 63% month-over-month (46 → 75 sales) as affordability pulled in buyers, and months of supply tightened back to 1.6 from April's 2.1 — confirming that April's slowdown was inventory-driven, not a demand collapse.

4. 4

   Redmond's above-list close rate fell from 61.9% in April to 32.4% in May as inventory grew 49% to 67 listings and months of supply rose to 1.8

   the tightest Eastside market in March is now more balanced than it has been all year.

5. 5

   Rates hit 6.89% by month-end

   the highest since January — and are now nearly a quarter-point above March's reading. On a $750K loan that's roughly $125/month more than spring's rate low, which is hitting buyer purchasing power at the worst time in the seasonal cycle.

Actual single-family home sales from Redfin Data Center. Cities with fewer than 30 sales are flagged — their medians can swing wildly.