2025 November Housing Market Update

By Matt Stark

Matt Stark is a top 1% REALTOR® in Seattle with over 19 years of experience. A Seattle native, he began his career in 1999 as an investor before transitioning to full-time real estate.

The end of the year always raises questions about whether the housing market is slowing. November’s numbers give us clear answers. Inventory is higher, homes are taking longer to sell, and buyer behavior has changed compared to last year. As we move into December, these trends matter if you’re deciding whether to list now, wait, or start planning for early 2026.

Why November inventory matters. One of the first numbers I always look at is active inventory. Right now, we’re sitting at about 1,273 active listings. When you compare that to the same time last year, when there were around 929 homes on the market, that’s an increase of just over 30%. This trend has been consistent throughout 2025. More inventory means buyers have more choices, and sellers need to be more intentional about pricing and presentation.

What days on market are telling us. Homes are also taking longer to sell. The average days on market is now about 35 days, which is roughly 25% higher than this time last year. One metric I pay close attention to is the number of homes that have been on the market for more than 3 weeks. Right now, about 79% fall into that category. The days of most homes selling in a week are largely behind us, at least for now.

Understanding months of inventory. Another important indicator is months of inventory. This measures how long it would take to sell all current listings if no new homes were to come on the market. We’re currently at about 2.4 months of inventory, up from 1.7 months last year. While this is still not an oversupplied market, it does show a clear shift toward more balance.

How the holidays affect the market. As we move through December, new listings typically slow down. Many sellers choose to wait until after the holidays to list. At the same time, sellers who are already on the market often hold firm on pricing and delay any reductions until buyer activity picks up again after Christmas. This is a normal seasonal pattern, but it’s important to plan around it.

Why deals still happen this time of year. Even with slower activity, motivated buyers and sellers are still making moves. There are only a few true holiday days when activity pauses. After that, transactions continue. For buyers, this can mean less competition. For sellers, it means serious buyers are the ones still looking.

As we finish out the year, I’ll be watching how inventory levels end 2025 and what that sets up for early 2026. If you have questions about your situation or want to talk through the numbers, feel free to reach out at 206-940-4557, email matt@mattstarkrealestate.com, or visit searchhomesnw.com. Understanding these numbers now puts you in a stronger position to make smart decisions as we head into the new year.