Buying • May 19, 2025

Real Estate Contingencies: What They Are and Why They Matter

by Windermere Staff

Imagine a home-buying scenario where you make an offer, the seller immediately accepts, and everything goes smoothly until you’re handed the keys. It’s possible, but more often, buying a home involves negotiation, counteroffers, and a back-and-forth dialogue between buyer and seller to reach a deal. And in some cases, the deal can fall through.

That’s where contingencies come in.

Contingencies are built-in protections within a real estate contract. They help both buyers and sellers navigate the natural ups and downs of the home-buying process by setting clear conditions that must be met for the sale to go through. For buyers, they also provide important safeguards, along with strategic tools to shape and strengthen their offer. Whether you’re a first-time home buyer or you’ve bought before, you should be aware of common real estate contingencies and the role they play in making an offer on a home.

Making a Contingent Offer on a Home

Once you and the seller agree on the price of a home, both parties have certain responsibilities before closing. Buyers are responsible for securing financing, scheduling a home inspection, and getting the property appraised. Sellers are responsible for prioritizing the offer on the table and opening their doors to the home inspector when the time comes. The agreed-upon contingencies included in the contract define what happens if something doesn’t go as planned.

Contingencies present a spectrum of options to home buyers, allowing them to walk away from a real estate transaction with their earnest money intact or renegotiate the contract. And while including contingencies offers protection and negotiation leverage, removing them can be an effective strategic move too, especially in a competitive market.

In a seller’s market, competition amongst buyers is high, and they often face multiple-offer situations. It’s not uncommon to see escalation clauses, bidding wars, and all-cash offers as buyers try to stand out and strengthen their position. To sweeten their offers in such market conditions, buyers will typically waive their contingencies. However, while waiving contingencies can make for a more attractive offer, it also presents increased risk due to lack of protection. That’s why it’s necessary to understand each contingency and carefully consider what makes the most sense for your situation.

Common Real Estate Contingencies

Home Inspection Contingency

After you’ve made an offer, a professional home inspector will thoroughly examine the property before the deal is finalized. If issues are uncovered, this contingency allows you and your agent to request repairs, present the seller with a new offer that accounts for the home’s lessened condition, or cancel the contract entirely.

Financing Contingency

Also known as a “mortgage contingency,” a financing contingency gives the buyer a specified period of time to secure adequate financing to purchase the home. Even if you are pre-approved for your mortgage, you may not be able to obtain the right loan for the home. If you are unable to finance the purchase, this contingency allows you to back out of the contract and recover your earnest money, and the seller can re-list the home.

Appraisal Contingency

An appraisal contingency states that the home must appraise for, at minimum, the sales price. In other words, it is to make sure the home is worth the agreed-upon price. It allows you to walk away from the deal if the property’s appraised value is lower than the sales price and typically guarantees that your earnest money will be returned.

Home Sale Contingency

If you’re buying a new home while selling your current one, you may want to include a home sale contingency in your offer. This contingency specifies the date by which you’ll need to sell your current home in order to move forward with your offer. If you don’t sell your home by the specified date, the contract is terminated. Home sale contingencies are financially appealing in that they allow buyers to use the proceeds from their home sale to fund their new home purchase. However, these contingencies force sellers to wait until the buyer’s current home sells, which means they likely won’t accept such offers in competitive markets.

Title Contingency

Before the sale of a home goes final, a search will be performed to ensure that any liens or judgments made against the property have been resolved. A title contingency allows you to raise any issues you may have with the title status of the property and stipulates that the seller must clear these issues up before the transfer of title can be completed. If an unpaid lien or unpaid taxes turn up in the home’s title search, this contingency also allows you to back out of the deal and look for another home.

To learn more about preparing a winning offer, connect with a local, experienced Windermere Real Estate agent.

Selling • May 13, 2025

A Step-by-Step Guide to a Smooth and Successful Sale

by Windermere Staff

Navigating everything involved with selling your home can seem intimidating. Breaking the process down step by step will keep you organized and ready to work with your agent toward a successful home sale.

1. Choose an Agent

A lot goes into choosing the right agent. If you’re unsure where to start, get referrals from trusted friends, family, and neighbors. Although the ultimate goal is the sale, think about your compatibility outside of the transaction. Their ability to connect with you on a human level through the ups and downs of a home sale is just as important as their expertise and knowledge of the market.

Pro tip: Look for someone who communicates the way you do—whether that’s testing, emailing, or good old-fashioned phone calls. Feeling heard and understood can make all the difference in building trust and making the process more enjoyable.

2. Set a Timeline

Depending on your local housing market conditions, your timeline for selling your home may vary. However, a timeline is valuable in that it will keep you organized throughout the selling process and allows you to adjust if circumstances change. Your agent will work with you to build the ideal timeline, one that reflects your personal goals, the local marketplace, and any milestones you may be working around. Having a clear plan reduces stress and ensures everyone is on the same page.

3. What is Your Home Worth?

The key to selling quickly is correctly pricing your home from the first day it hits the market. In particular, overpricing can lead to serious complications in the selling process. Your agent can provide you with a Comparative Market Analysis (CMA) to better determine the best price of your home. CMAs provide information on comparable home sales in your area, both pending and sold, within the past six months.

While an agent will always have the best information, you can also explore your home’s potential value with our real-time automated value estimate tool before connecting with your agent. Our seller page features home values and market information about what buyers are looking for in your area.

4. Repair & Upgrade

Now it’s time to get to work on the house! This is the perfect time to tackle any and all outstanding projects or repairs. Create a list separating which repairs can be done yourself and which need professional attention. This is also a great opportunity to consider a pre-sale home inspection to identify structural and mechanical issues or outdated features that could benefit from attention. Even small updates can go a long way—especially those that boost energy efficiency or add smart home appeal.

5. Make the Best First Impression

Creating a strong first impression can have a lasting impact on buyers, so roll up your sleeves and prepare to check off that to-do-list. Start by cleaning up the garden and lawn, clearing out gutters, and adding color to your flower beds. Apply a fresh coat of paint anywhere you spot peeling or cracked paint. A great way to make an impact is by staging your home, with the goal of making each room feel as spacious and welcoming as possible. Professional photography and even a little social media buzz can make your home stand out from the start.

6. Show Your Home

Discuss virtual home tour options with your agent and other ways to generate maximum buyer interest. Consider 3D tours, virtual staging, or even drone footage if your property has outdoor highlights. These features can help your home stand out online and attract more attention, especially as many buyers now begin their home search digitally. For in-person showings, it’s best that you leave the premises so the buyer can freely ask their agent questions and visualize the home as their own.

7. Offers & Negotiation

If you are in a seller’s market—defined by low inventory and high buyer competition—it is likely that you will receive offers at – or above – asking price. You can respond to an offer by a) accepting the offer, b) making a counteroffer, or c) rejecting the offer. Counteroffers should always be made in writing and provide a short window of time for the potential buyer to respond. If you are selling in a buyer’s market, you may have to be more open to negotiation. Discuss negotiation strategies with your agent to work toward a satisfying final price.

8. Prepare for Closing Costs

There are costs throughout the selling process, and as the close date approaches, that remains true. Be sure to budget for your real estate agent’s commission, and other common seller’s costs like title insurance, recording fees, and government transfer tax, among others.

9. Home Inspection

Buyer offers are usually contingent upon a professional home inspection. Ask your agent for a home inspection checklist, so you know what the inspector is looking for ahead of time. They typically inspect the home’s foundation, structure, roof, plumbing and electrical systems, floors, windows, doors, and more for signs of damage and weathering. Some buyers now opt for additional specialized inspections—like sewer scopes or radon testing—so it’s helpful to be prepared in advance for what might come up.

10. Closing Time

Congratulations! Your home is sold, but there are still some final steps before the deal is done. This is the time to ask the buyer to release any contingencies, sign the title, and close escrow before handing over the keys. Consult your real estate agent for any questions about legal documentation and settlement costs.

Whether you’re just starting to think about selling or ready to take on the next step, a Windermere agent is here to guide you. Click the button below to connect today.

Local Look: Western Washington Housing Update 5/7/25

by Windermere Staff

Hi. I’m Jeff Tucker, principal economist at Windermere Real Estate, and this is a Local Look at the March 2025 data from the Northwest MLS.

Last month I said our local real estate market was on a roller coaster, and that proved true again, this month, as sales trends turned sharply downward after a strong March.

Pending sales fell below last month’s, and last year’s levels, as many buyers pressed “Pause” on their home purchase decisions, in the face of rising economic uncertainty and stock market volatility.

Here are the four key metrics I watch to track supply and demand in the market: closed and pending sales, which tell us a lot about demand; and listings – new and active – which tell us a lot about supply.

Across the Northwest MLS, closed sales of single-family homes grew just 1% in April from their year-ago levels, after growing 5% in March. Pending sales, which are more of a real-time demand indicator, dipped 4% from last year, a disappointing reversal after climbing 7% in March.

On the supply side, about 11% more new listings hit the market this April, and the tally of active listings ended the month 42% higher than April 2024’s inventory. Buyers are still seeing a lot more options than they had last spring.

Finally: the median price for those closed single-family home sales was exactly the same this April as last year: $680,000. The extra inventory and cautious buyers seem to have brought price growth to a halt, for now.

Putting it all together: the market is looking pretty balanced across Washington, now that buyers took a step back in April, as they’re taking time to digest the impact of tariffs and stock market volatility.

Now I’ll dig into the four counties encompassing the greater Seattle area, where buyers pulled back even more.

Residential closed sales dipped 1% year over year here in the 4-county region, largely due to a 2% drop in King County. Closed sales dipped 1% in Kitsap County; climbed 2% in Pierce County, including Tacoma; and were flat in Snohomish County, including Everett.

This is especially surprising because there was healthy pending sales growth around the region in March, suggesting either more cancellations, or that this dropoff happened mostly in the end of the month of April.

The median sale price kept marching upward in King and Kitsap Counties, by 5-6%, while prices were flat year-over-year in Pierce and Snohomish Counties.

Looking ahead, pending sales dropped 8% in the 4-county area: down 9% in King, down 10% in Kitsap, down 9% in Pierce, and down 4% in Snohomish County. This is a sharp reversal from March’s gains, and suggests we will see closed sales slide in May.

On the supply side, the 4-county greater Seattle area had just over 6,000 active listings at the end of April, up about half from the same time last year. Just like in March, the inventory growth is especially dramatic in King and Snohomish Counties, where listings are up 50% and 79% respectively.

All in all, these indicators from April show that the forward momentum in sales we saw in March has fizzled out for now, at least, because buyers have been hit by economic uncertainty and stock market volatility that’s caused some of them to pause their home buying search. Looking ahead, we saw stock markets actually end April about where they started, after a wild ride down and back up, so that may be cause for optimism that April’s negative shocks start to fade in the rear-view mirror. What comes next depends on whether the economic outlook and stock market movements stabilize and firm up.

More • April 28, 2025

UW to Host New Zealand and Indiana at the 39th Annual Windermere Cup

by Windermere Staff

On Saturday, May 3, the Windermere Cup will make its highly anticipated return to the Montlake Cut for its 39^th year, bringing with it all the speed, pageantry, and community spirit Seattle has come to love.

The Windermere Cup began in 1987 when Windermere Real Estate founder John Jacobi partnered with the University of Washington and the Seattle Yacht Club to expand the crew races held annually on the Opening Day of Boating Season. The vision was simple but bold: bring the best rowing talent in the world to compete against UW’s elite program—and spotlight the Montlake Cut as a premier international racing venue.

39 years later, the Windermere Cup remains a cornerstone of Seattle’s Opening Day festivities—welcoming top international crews, celebrating the strength of community, and honoring a long-standing partnership between Windermere, UW, and the Seattle Yacht Club.

Windermere Cup 2025

Returning champions and first-time challengers come together at this year’s Windermere Cup, as the University of Washington welcomes the New Zealand National Team and Indiana University to the Montlake Cut.

Making their long-awaited return to the Cut, the New Zealand National Team brings their men’s and women’s crews back to Seattle for the first time in a decade. With past appearances in 1989, 1999, and 2015, New Zealand has a strong history at the Windermere Cup, including a first-place finish by the men’s crew in their last outing. Ten years later, they’re back—faster, stronger, and ready to take on the Huskies once again.

Making their Montlake debut is Indiana University, whose women’s crew will compete in the Windermere Cup for the first time this year. A rising force in collegiate rowing, the Hoosiers continue the tradition of bringing top NCAA programs to the Cut to face off against the University of Washington—one of the most dominant teams in the sport.

As always, the Windermere Cup is free and open to the public, with thousands of spectators lining both sides of the Montlake Cut to cheer on the athletes. Races begin at 10:15 AM, with the featured Windermere Cup races at 11:30 AM and 11:45 AM. The Opening Day Boat Parade, put on by the Seattle Yacht Club, begins promptly at noon, signaled by the ceremonial raising of the Montlake Bridge and a traditional cannon blast. An awards ceremony will follow at 12:30 PM on the north side of the Cut.

Race-day festivities on the shore include food vendors, a build-a-boat station, a bouncy house, a photo booth, and a chance to meet the inspiring team behind Pink Ribbon Row organization.

Kick Off the Weekend with Windermere’s Party on the Cut!

The celebration kicks off the night before with the seventh annual Party on the Cut, taking place Friday, May 2, from 6:00 to 10:00 PM at the NE corner of Montlake Cut near the UW Waterfront Activity Center. This 21+ event features food trucks, yard games, a beer tent, and live music from Queen Mother and Nite Wave. Attendees will also get a sneak peek of Saturday’s action with the Twilight Sprints, a short-course race through the Cut featuring the Windermere Cup competitors.

Tickets can be purchased here for $35 or at the door for $45, and all proceeds will benefit the Windermere Foundation and Seattle JazzED, a local nonprofit making music education more accessible for Seattle-area youth.

For more information and a full schedule of events, visit windermerecup.com and follow Windermere Cup on Instagram, Facebook, and Twitter.

See you on the Cut!

Luxury • More • Property Management • April 21, 2025

The Benefits of Shared Second Home Ownership

by Windermere Staff

The idea of owning a second home is a dream for many—but the reality often comes with high costs, logistical hurdles, and much more upkeep than expected. And as home prices continue to climb and travel habits shift, buyers are starting to ask: is there a better way?

In partnership with Windermere, Esterre offers a fresh new answer to that question with an innovative shared second home ownership model, allowing buyers to co-own a thoughtfully curated portfolio of vacation homes—without taking on the full-time costs, upkeep, or responsibilities of owning a second home on their own.

Understanding A Shared Ownership Model

Shared, or fractional, ownership is quickly emerging as a practical and flexible alternative to second homeownership—one that makes vacation homes more attainable without the stress of going it alone. It’s a concept that’s been around for years, but today’s models offer a more refined, accessible experience. So, what does shared ownership really mean, and how does it work?

Shared ownership allows multiple buyers to co-own a home, splitting both the costs and the responsibilities. Each owner typically holds a defined share of the property, with usage and expectations outlined in a clear agreement. While different models exist, many shared ownership opportunities offer real estate equity, meaning owners can benefit from long-term use as well as a potential share in the home’s value over time. When applied to vacation homes, shared ownership presents a more accessible way to enjoy meaningful time away—without the full-time costs or commitment of owning a second property outright.

Below are some key benefits of shared ownership.

Benefits of Shared Ownership

Lower upfront cost compared to buying a whole property.
Shared responsibility for maintenance and property management.
More efficient use of the home throughout the year. Greater flexibility in travel and vacation options.
Real equity, with the potential for long-term financial return.
Accessible entry point into luxury vacation real estate.

How Esterre is Reimagining Shared Ownership

Esterre is bringing a fresh take to the shared ownership space. Unlike traditional timeshares or fractional ownership models, Esterre offers co-ownership in a curated portfolio of fully managed, high-end vacation homes across Washington State. Each property is thoughtfully chosen for its location, design, and year-round appeal. Rather than being tied to a single home, owners hold real equity in the entire portfolio and benefit from a growing collection of properties as new homes are added. With access to over a month of stays annually at any home in the portfolio, owners can enjoy variety and flexibility without sacrificing comfort or quality.

Esterre also simplifies the process from start to finish. Maintenance, furnishing, landscaping, and cleaning are all handled on your behalf so you can focus on enjoying your time away. A standout feature of Esterre’s model is its built-in 12-year exit strategy. When the time comes, the homes are sold, and the proceeds are divided among the owners, with 20% of the appreciated value going to Esterre. It’s a modern approach to second homeownership—designed to offer ease, flexibility, and a clear path forward.

Discover more at esterre-wa.com.

Market News • April 16, 2025

Numbers To Know 4/16/25: Let’s Talk Tariffs

by Windermere Staff

This is the latest in a series of videos with Windermere Principal Economist Jeff Tucker where he delivers the key economic numbers to follow to keep you well-informed about what’s going on in the real estate market.

Our first number this week is all about the elephant in the room:

Tariffs

President Trump’s new tariff schedule announced so far in April will raise the average effective tariff rate on imports by a factor of TEN, from 2.6% to 27% — the highest since 1903. And that’s including the 90-day pause for some of the higher reciprocal tariffs. The Yale Budget Lab computed that based on the mix of imports we have been buying. They also estimated, on this chart, that after Americans start substituting away from highly-tariffed sources like China, the post-substitution rate might fall as low as 18.5 percent. That would be the highest since 1933, when trade was shrinking during the Great Depression.

What effect will this have? For one, it will reduce real GDP in the U.S. One estimate has it reducing real GDP growth in 2025 by 1.1 percentage points, and a permanent reduction of 0.6%.

So far, the effects of tariffs haven’t shown up in much hard economic data. The March CPI inflation report, for instance, showed inflation came in below expectations, with a surprising month-over-month decline in the price level, and a cooldown in the year-over-year growth rate to 2.4%. That’s important because it helps give the Fed permission to cut rates later this year, if they start to see the job market slow down.

One place where the data is rapidly turning south is forward-looking indicators and especially in sentiment surveys, like the Michigan Consumer Sentiment Survey, whose respondents are the gloomiest about future unemployment that they’ve been since 2009.

And in the housing market, the Fannie Mae Home Purchase Sentiment Index fell in March to its lowest level in about a year and a half.

The main factor driving that decline was a sharp increase in respondents’ fears of job loss in the next 12 months. Unlike the Michigan chart a minute ago, this is respondents’s fears of losing their own job. That is likely to cause some would-be home buyers and sellers to hunker down and maybe press “Pause” on buying or selling until their outlook brightens up.

Speaking of the housing market: Data for March continue to show a relatively balanced spring market. Active inventory is only 5% below March 2020 levels, on the eve of the pandemic, and up 29% from last year.

Pending sales are down about 1% from last March. So before any tariff impact, we are seeing just a tiny decline in sales activity.

Finally, I’ll end by checking in with the USUAL elephant in the room: mortgage rates, which are back up around 7%. The financial market turmoil in response to the tariff news briefly pushed interest rates down, but then mortgages got carried along with a surprising upswing in US bond yields. That may settle back down in the coming weeks, but uncertainty really remains the watchword for economic data this year.

Buying • April 14, 2025

When is the Best Time to Buy a House?

by Windermere Staff

There’s a factor of the home buying process that can often be the catalyst for everything that follows. That factor is timing. Much of the dialogue—rightfully so—around buying a home is focused on the “what.” However, it’s often the case that the “when” is just as important.

So, when is the best time to buy a house? The answer is simple: the best time to buy is the right time for you. Fortunately, knowing when the time is right isn’t some sixth sense; it’s much more concrete. It’s a matter of understanding local market conditions, your financial situation, the status of mortgage rates, and how those factors fit in with your lifestyle changes and your motive for moving.

When is the Best Time to Buy a House?

With so much subjectivity in the decision-making process, it can be helpful to look at cold, hard facts to determine whether it’s the right time to buy. Although every real estate transaction is different, your local market conditions will give you a good sense of how to approach the housing market. There are two basic categories: a buyer’s market and a seller’s market. In short, the characteristics of a buyer’s market—high inventory, fewer buyers, lower competition—favors buyers, and the characteristics of a seller’s market—low inventory, many buyers, high competition—favors sellers. You may be in a position where you’re able to wait for favorable buying conditions, or you may be thrust into a highly competitive market due to external factors pushing the agenda of your move, such as a career change or starting a family. Regardless of the market conditions you face as a buyer, work with a buyer’s agent is critical to efficiently navigate your local housing market and prepare a winning offer when the time comes.

Which homes can you afford?

Your financial situation also looms large when deciding whether it’s the right time to buy a house. Before you start looking for homes, assess your buying power. Having greater buying power will show the seller that you’re fully capable of purchasing the home and may vault your offer over others.

To get an idea of what you can afford, use our free Home Monthly Payment Calculator by clicking the button below. With current rates based on national averages and customizable mortgage terms, you can experiment with different values to get an estimate of your monthly payment for any listing price. Using the Home Monthly Payment Calculator, you can make a well-informed estimation of whether it’s the right time to buy.

The Home Buying Process

Moving often goes hand in hand with lifestyle changes. As you’re preparing to buy a house, you may be juggling an employment change, the birth of a child, or any combination of other life-altering events. Buying a home takes time, and although an agent will streamline the buying process, it will inevitably impact your day-to-day schedule. Here’s a quick glance at the steps in the home-buying process.

Find the right agent
Get pre-approved for a mortgage
Search for homes
Attend open houses and showings
Make an offer and negotiate
Put down earnest money
Appraisal/Inspection
Closing process
Move into your new home

For helpful resources on the home buying process from start to finish, visit our website:

Buyer Basics – Your Guide to Buying a Home

Seasonality

You’ve undoubtedly heard the age-old real estate maxims about buying in different seasons and how to use the calendar to your advantage to score a good deal on your next home. There’s an element of truth to these sayings, but the best way to grasp the effects of seasonality in your area is to work with an experienced local real estate agent. Their expertise and access to data and tools will be your ultimate resource in tailoring your buying strategy to your local housing market. Connect with an experienced Windermere agent to begin your home-buying journey:

More • Western Washington Real Estate Market Update • April 9, 2025

A Wolf in Sheep’s Clothing

by OB Jacobi

I have had the privilege of being part of this amazing industry for most of my life; but there was a time when residential real estate was synonymous with marginalizing people by using “secretive” policies, such as redlining, racial steering, and other forms of manipulation and discrimination.

In the late 1960s, Fair Housing Act legislation brought these practices to light, and we have come a long way since what were clearly the “bad old days” of real estate—a time when elitism ruled the day.

While we clearly have a very long way to go, our industry has made great efforts to move towards fairness and transparency, and I am proud of the fact that my dad, John Jacobi – founder of Windermere Real Estate – and his fellow real estate leaders in the Seattle area, were instrumental in helping to eliminate such tactics by cooperating with each other to share real time listing information. In fact, our region was the first in the country to do so via the Northwest Multiple Listing Service.

Yet now, at a time of great transition in our industry, one brokerage is advocating to transport us back by decades—all for their interests, and their interests only. Under the guise of ‘seller choice,’ Compass has begun building a private network where it controls both buyer and seller. If there was ever a policy that was a “wolf in sheep’s clothing”, a private listing network is exactly that.

Secrecy brought our industry to a low point when only a select number of brokerages and their agents controlled the inventory and, in the process, managed to avoid transparency. Transparency creates accountability as business is conducted in the open. In a private listing network like Compass is building, you lack accountability – exponentially increasing the opportunities for mishandling and abuse. If one is wealthy and has influence, they can get themselves to the front of the line. It returns us to a caste system of real estate, where a small, elite group have privileges while everyone else is on the outside looking in.

I am not implying that there aren’t sellers who need or want to keep their homes from being publicly marketed. There are absolutely instances when that is a necessity, but rules are already firmly in place to do so. For example, in the Northwest Multiple Listing Service*, you can list a home without revealing the seller or their address; sellers control how their home is marketed and can even opt not to have signage or a lockbox. In this instance, if a buyer is interested, their agent must work with the seller’s agent to schedule a private showing.

Even the National Association of Realtors (NAR), which has plenty of issues of its own, has given its MLS’s the ability to choose when to ultimately list a home.

However, to make a private listing network the norm is beyond a terrible idea. Private listing networks only support the brokerage that controls the listing, and the seller is at the brokerage’s mercy to market the property. This scenario also removes relevant information that buyers rely on to make informed decisions, forcing them to drive blindly through the process. Furthermore, sellers lose valuable time because no one else is being given the opportunity to look at their home, and the buyers will have little access to – or information about – the true available inventory. And the claims by Compass that homes sell for more in their private network? It’s all smoke and mirrors as study after study has shown.

Recognizing resistance to such a self-serving idea, Compass is threatening any MLS or brokerage that stands in its way. Again, under the guise of ‘seller choice,’ this company is working to bully the industry and bend everyone to its will. And the reason behind it is simple: money and control. Make no mistake, that’s all this is about.

Private listing networks create a “them and us” situation within the home-buying and home-selling world – something our industry has fought hard to eliminate. Think about the consequences of limiting access to inventory through just one organization. They are, quite frankly, terrifying.

Like an old-fashioned schoolyard bully, Compass has decided that the most effective way to address its damaged bottom line is through intimidation. It is terribly sad that one company’s blind ambition is working to set our industry back decades.

In short, there is nothing noble about what Compass is trying to do to the residential real estate industry. This will benefit them, and them only, hurting everyone else.

*The Northwest Multiple Listing Service (NWMLS) operates separately from the National Association of Realtors (NAR).

Market News • Western Washington Real Estate Market Update • April 7, 2025

Local Look: Western Washington Housing Update 4/7/25

by Windermere Staff

Hi. I’m Jeff Tucker, principal economist at Windermere Real Estate, and this is a Local Look at the March 2025 data from the Northwest MLS.

Our local real estate roller coaster turned back up in March, after a couple soft months to start the year. Pending sales actually climbed YoY in March, around Washington and especially the Puget Sound region, as buyers seemed to respond to the decline in mortgage rates over the month. This is still not a red-hot spring selling season but it’s not exactly a buyer’s market either.

Across the Northwest MLS, closed sales of single-family homes grew 4% in March from their year-ago levels, after flatlining in February. Pending sales, which are more of a real-time demand indicator, climbed 7% from last year. That’s a strong reversal from February’s dip in pending sales.

On the supply side, about 14% more new listings hit the market this March, and the tally of active listings ended the month 37% higher than March 2024’s inventory. Buyers are seeing a lot more options than they had last spring.

The final key metric to check in on: the median price for those closed single-family home sales climbed just 2% year-over year in March, from about $655,000 to $666,000. That’s another month of decelerating price growth after Q4 was particularly hot.

Putting it all together, we’ve got more supply meeting more demand this spring – more buyers are finding a match; sales are picking up; but all that inventory has kept a lid on price growth.

Now I’ll dig into the four counties encompassing the greater Seattle area, which mostly had similar trends to Washington as a whole.

Residential closed sales climbed 3% year over year here in King County, and for the whole 4-county region; they dropped 18% in Kitsap County; climbed 9% in Pierce County, including Tacoma; and rose 4% in Snohomish County, including Everett. Not huge growth but it is a turnaround from February, when sales fell slightly from year-ago levels.

The median sale price climbed between 3 and 5%, locally: 3% change from last year in King County and Pierce County, up 5% in Kitsap County, and up 4% in Snohomish County.

Looking ahead, pending sales climbed more than closed sales: up 6% in King, down 1% in Kitsap, up 8% in Pierce, and up 1% in Snohomish County. Altogether that makes 5% growth across the 4 counties, which should support further growth in closings in April. That’s the biggest piece of evidence I see that buyers are coming back to the market this spring.

On the supply side, the 4-county greater Seattle area had about 42% more active listings at the end of March than the same time last year. The inventory growth is especially dramatic in King and Snohomish Counties, where listings are up 50% and 79% respectively.

So while there’s more purchase activity, these inventory gains are helping to keep it a pretty balanced market. Barring any big negative shocks, I’m expecting stronger year-over-year sales growth in April and May, because last year mortgage rates spiked upward starting in mid-April, which sent buyers back into hibernation. This spring, interest rates are declining modestly, which is the silver lining of a diminished outlook for economic growth.

Architecture • Design • March 27, 2025

The Art of Pacific Lodge Architecture

by Windermere Staff

The Pacific Northwest is known for its lush forests, rugged coastline, and stunning mountain ranges. Naturally, architects and designers in the region draw from this unique environment, combining indigenous design principles with earlier frontier styles to create what we now know as Pacific Lodge architecture.

From its defining features to its deep regional roots, here’s everything you need to know about the Pacific Lodge home style and how it embodies the spirit of the PNW.

What is Pacific Lodge Architecture?

Drawing inspiration from mountain lodges, traditional log cabins, and the naturally sourced materials abundant in the region, Pacific Lodge architecture reflects a sense of warmth and connection to the land. Reclaimed wood, exposed beams, and stone are often emphasized to create spaces that feel both grounded and inviting, while expansive windows that frame the surrounding landscape allow natural light to pour in, blurring the boundary between indoors and out. The combination of rugged materials and thoughtful design results in homes that are both cozy and grand, seamlessly blending comfort, craftsmanship, natural beauty, and enduring charm.

Key Features of Pacific Lodge Homes

Exposed Wood Construction

Exposed wood construction is one of the defining elements of the Pacific Lodge home style. Signature woods found in the area, like Cedar, Douglas fir, and Western Larch, are commonly used to generate openness and enhance the home’s natural aesthetic. Vaulted ceilings, soaring trusses, and large-scale exposed beams showcase these wooden elements, giving the home an inviting yet dramatic feel. These features celebrate the region’s timber-rich heritage and foster harmony between the home and its surrounding environment.

Expansive Living Spaces

Complementing the warmth and openness created by exposed wood, expansive living spaces are another essential feature of Pacific Lodge architecture. Open floor plans, high ceilings, and grand rooms characterize the Pacific Lodge home, along with common areas that are thoughtfully designed to flow seamlessly into each other, creating inviting spaces ideal for gathering. The broad nature of these rooms highlights natural light, further enhancing the warm and welcoming atmosphere.

Large Windows

Pacific Lodge architecture prominently features large windows, such as picture windows and floor-to-ceiling glass, making the living spaces feel even more expansive and connected to the outdoors. Given the region’s frequent rain and cloudy skies, maximizing light is especially valuable, and oversized windows help to enhance brightness throughout the home. These large windows not only frame beautiful exterior views but also blend indoor and outdoor spaces.

Warm & Inviting Interiors

The warm and inviting interiors complement Pacific Lodge homes’ distinctive charm by bringing all these elements together. Inside, you’ll find a thoughtful blend of cozy furnishings, earthy tones, and richly textured materials. Sizeable stone fireplaces, leather seating, and more wood finishes provide a comfortable backdrop, while natural textiles like wool throws, woven rugs, and iron accents reinforce the home’s rustic yet elegant appeal. Deep forest greens, rich burgundies, and warm amber hues are often incorporated to add depth and complement the home’s natural feel.