Seattle starter home sales rise as other markets slow, new report shows

The market for starter homes is heating up in Seattle with sales rising nearly 4% over June, according to a new report from Redfin.

Experts attribute the growth in starter home purchases to a wave of first-time buyers taking advantage of improved market conditions. June marked the 10th straight month of year-over-year sales gains for starter homes, with pending sales also up 3.1%, a sign that the upward trend could continue in the near term.

While entry-level homes are drawing more buyers, sales of mid-tier and high-priced properties are losing momentum. Sales of mid-priced homes slipped 0.9% compared to the same time last year, and high-end homes saw a sharper decline of 3.6%.

Starter home sales climb as pricier market segments cool

The national median sale price for a starter home now sits at $260,000. However, prices remain far higher in major metros like Seattle, where affordable entry points are increasingly rare. Starter homes in Seattle typically sell within just nine days, highlighting intense demand and limited supply.

The data suggests that while affordability challenges persist, especially in coastal cities, entry-level properties remain a focal point for active buyers, perhaps the most resilient segment of a cooling housing market.

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