Buying a home has always been a big decision, but in today’s uncertain economic and political climate, many are feeling more anxious than ever about taking the plunge.
“What if I buy at the wrong time?”
“What if interest rates change again?”
“Is homeownership still a smart move?”
We hear these concerns every day, and totally get where they’re coming from. No one wants to make a bad investment. But here’s the reality: real estate is still one of the most powerful ways to build wealth. The key is to have the right strategy and data to help you make the best decision.
That’s why we rely on real-time market data, giving buyers and sellers clear, actionable insights rather than relying on fear-driven headlines. So let’s jump into the facts…
MARCH Market Update
Just like last month, we’re seeing multiple offers and homes selling above asking price in all markets. That being said some buyers are hitting the pause button on their home searches. Below are three reason I think this is happening.
Economic Uncertainty & Stock Market Volatility
A recent 20% stock market correction has many potential buyers feeling uncertain about their financial stability. When markets dip, people often delay big life decisions like buying a home, waiting for a more secure financial environment.Affordability Concerns & Interest Rates
While mortgage rates have fluctuated, many buyers are waiting for rates to drop further before locking in a purchase. The magic mortgage rate number we’ve seen with builders is 5.8%. If rates get to 5.8% expect an increase in competition. With housing demand still strong in many areas on King and Snohomish Counties, waiting too long could mean higher home prices once rates stabilize.Shifting Market & New Zoning Rules
Recent zoning changes have raised questions about the future of single-family homes. Buyers are wondering: “Should I buy now, or will more inventory and different housing options become available?” Some are waiting to see how these policies play out, while others are acting quickly to secure a traditional home with a yard before availability shifts.
Is waiting the right move?
That depends. While hesitation is understandable, history shows that housing markets reward long-term buyers. If you're unsure, let's talk through your options and create a smart game plan.
So How Fast Is the Market Moving Today?
To truly understand the market’s momentum, you need to know how fast the market is moving. To get this number, we rely on Altos Research’s Market Action Index (MAI). Just like a car’s dashboard, it tells us how fast the market is moving, whether it’s slowing down, picking up speed, or going full throttle.
While the number itself is insightful, the trend matters most—are we accelerating, decelerating, or holding steady?
Today, we’re breaking down the same four cities we did last month to show how different areas, price points, and demand levels are shaping the market.
TLDR
Seattle (57): Up from 51 last month, rising demand and tightening inventory continue to increase competition.
Bellevue (46): Down from 49 last month & Sammamish (55) Down from 58 last month: Cooling off—buyers are becoming more selective, and overpriced listings are lingering.
Edmonds (70) Up from 62 last month: Red hot—strong demand and limited inventory are pushing prices higher with no slowdown in sight.
What This Means for You:
Sellers: Smart pricing is everything. Demand is still strong, but overpricing can backfire. Just this week we saw two listings that our buyers decided not to write on go past their offer review deadlines with no offers due to over pricing.
Buyers: Be prepared for competition in hot markets, but don’t assume every home will sell instantly or above asking.
The market isn’t one-size-fits-all—it varies block by block. Let’s talk about what these trends mean for your next move.
Seattle – Seller’s Market, and Some Homes are Flying Off the Shelves
Median List Price: $1,050,000
Market Action Index: 56 (Up from 51 last month)
Inventory: 458 home (up from 433 last month)
Seattle home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. We’re still seeing some homes getting multiple offers within days, while others sit untouched because they are priced too aggressively. This is continues to move in a Seller’s market direction so watch for upward pricing pressure in the near future if the trend continues.
Bellevue – Holding Steady, But Buyers Are Getting Picky
Median List Price: $3,689,999
Market Action Index: 51 (Same as last month)
Inventory: 82 home (up from 67 last month)
The Bellevue market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Sammamish – Continued Cooling, But Still Competitive
Median List Price: $2,047,000
Market Action Index: 55 (Down from 58 last month)
Inventory: 28 home (up from 21 last month)
The Sammamish market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Edmonds – The Market Continues to Get Hotter
Median List Price: $1,400,000
Market Action Index: 75 (WAY up from 65 last month)
Inventory: 23 home (Same as last month)
In the Edmonds market home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Key Takeaways
Seattle (57): Up from 51 last month, rising demand and tightening inventory continue to increase competition.
Bellevue (46): Down from 49 last month & Sammamish (55) Down from 58 last month: Cooling off—buyers are becoming more selective, and overpriced listings are lingering.
Edmonds (76) WAY up from 65 last month: Red hot—strong demand and limited inventory are pushing prices higher with no slowdown in sight.
Sellers, the right pricing strategy is crucial, demand is still strong, but overpricing can backfire.
Buyers, be prepared to compete in hot markets but be astute and don’t assume every home is going to sell immediately or for over asking.
Wondering what’s really happening in your neighborhood? Real estate trends vary street by street, and having the right strategy can make all the difference. Let’s discuss how these shifts impact your next move!