Renfrew Report… What NWMLS Data Tells us.
📊 Northwest MLS Market Trends (2023–2025): A Residential Real Estate Comparison
By Arron Renfrew – Renfrew Team | AUM Real Estate
Published February 2026
As a real estate professional deeply entrenched in the Northwest MLS (NWMLS) market, I monitor data closely so my clients — buyers, sellers, and investors — can make informed decisions. Over the last three years (2023 through 2025), NWMLS trends show a market transitioning from post-pandemic highs toward stabilization, with implications for pricing, inventory, and transaction pace. Here’s a data-driven comparison of residential real estate in the NWMLS territory over the last three years.
📈 NWMLS Market Line Graph (Residential)
<img width="400" height="300" src="https://nwmls.stats.showingtime.com/infoserv/s-v1/VDFY-52A?w=400&h=300" />
Caption: Residential and condominium closed sales, median price, and active listings — NWMLS annual data 2023–2025 (Source: NWMLS/ShowingTime Stats).
(You can paste the NWMLS “Line Chart” you see on the NWMLS stats page here for visual context — this boost engagement and SEO performance.)
🏡 Closed Sales: Growth and Stabilization
2023
NWMLS reported 64,208 total closed sales of residential homes and condos in 2023. (Northwest Multiple Listing Service)
2024
Closed sales increased to 67,788, up about 5.6% over 2023 — signaling renewed buyer activity. (Northwest Multiple Listing Service)
2025
Sales remained virtually flat, at 67,929, up just 0.21% from 2024. (Northwest Multiple Listing Service)
Insight: After a noticeable rebound from 2023 to 2024, the overall pace of transactions stabilized in 2025, highlighting a market that is no longer rapidly accelerating but holding steady as inventory increases.
💰 Median Sales Price: Continued Appreciation
2023
Median sales prices continued growing from historic lows (exact figure not in annual press release but historically ~$600k). (Northwest Multiple Listing Service)
2024
The median price reached $640,000, up ~6.7% from prior-year figures. (Northwest Multiple Listing Service)
2025
Median price ticked up slightly to $644,500 — up ~0.7% year-over-year. (Northwest Multiple Listing Service)
Insight: While prices continued to appreciate each year, the rate of growth decelerated significantly from 2024 to 2025, suggesting that inventory gains and affordability pressures are moderating price spikes.
📦 Inventory Trends: Buyer Advantage Emerging
One of the clearest shifts in the last three years is inventory expansion:
NWMLS reported active listings rising over 34% on average in 2025 compared to 2024. (Managing The Real Estate Details)
Monthly snapshots showed active inventory up significantly year-over-year in spring 2025 — with 44% more listings than March 2024. (Northwest Multiple Listing Service)
This trend points to greater choice for buyers and less intense competition than we saw earlier in the decade.
🔍 What This Means for Buyers & Sellers
For Buyers
✅ More inventory means more options and negotiating power.
✅ Slowing price acceleration may improve affordability — especially if interest rates soften further.
❗ Mortgage rates and local job growth still impact how far buyers’ budgets stretch.
For Sellers
🔹 Steady pricing keeps home equity strong.
🔹 Days on market may lengthen slightly as inventory grows.
🔹 Strategic pricing and staging remain critical in this transitioning landscape.
📌 Summary: NWMLS 3-Year Takeaways
Year
Sales Trend
Median Price Trend
Inventory/Market Condition
2023
Lower sales vs 2022; market stabilizing
Moderately rising
Limited inventory
2024
Sales recovery + stronger median price growth
Prices up ~6.7%
Inventory slowly building
2025
Flat sales year-over-year
Price growth slows
Inventory gains clear buyers more options
Real estate isn’t static — and in the NWMLS territory, we’re seeing a market shift from seller dominance to a more balanced environment. Understanding these trends helps buyers time entry, and helps sellers maximize returns.
📞 Let’s Talk NWMLS Market Strategy
Whether you’re buying, selling, or investing in the next 12 months, I’d be glad to walk you through what these trends mean for your specific neighborhood and price range.
Contact me anytime.
— Arron Renfrew
Renfrew Team | AUM Real Estate
