The following are the May 2025 median sale prices for 3-bedroom homes on a half-acre or less of land (excluding new construction and waterfront properties), according to the Northwest MLS.

Bellevue: $1.6 million (based on 16 sales)

Seattle: $950,000 (222 sales)

North Bend: $810,000 (10 sales)

Everett: $720,000 (50 sales)

Bellingham: $630,000 (34 sales)

Tacoma: $530,000 (132 sales)

Wenatchee: $520,000 (17 sales)

Vancouver: $460,000 (31 sales)

The east side continues to lead the pack by a significant margin, notwithstanding a light data set. Lined up with a graph of Freddie Mac’s national average interest rates (30-year mortgage in blue), we can see price resilience throughout the region even as the cost of financing increased dramatically in 2022, pushing sales volume down.

That may be about to change. The sticky price phenomenon has been widely reported at this point, but increasing inventories might finally give buyers more of an edge. At the national level, sellers outnumbered buyers by almost a half million in April, according to the Wall Street Journal. This is the highest seasonally-adjusted gap on record since 2013. The trend is reflected in the Pacific Northwest, where active listings reached 18,310 in May, the highest level of inventory since 2018, according to the NWMLS. This was accompanied by a slight decline in the overall median sale price compared to a year earlier.

One caveat: although markets seem to have shaken off any tariff worries for the moment, some price increases are already working their way through the system. There is still a reasonable possibility of worsening effects on small business inventories, inflation, and other macro elements through the summer. The resulting downstream risks to the residential market would appear in the form of reduced household purchasing power and general economic uncertainty.

Further reading: The Fog of Trade War Is Causing Confusion About Price Increases

The Residential Tide Turns

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