Seattle home sellers double down on buyer incentives
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Seattle homebuyers have arguably more power than they've had in years, with more than 71% of metro-area sellers offering a financial sweetener to help close the sale of a home, according to a new report.
Why it matters: The sweeteners are being used to combat rising inventory and soften the blow of high home prices, elevated mortgage rates and economic uncertainty, per the report.
Driving the news: The share of Seattle metro sellers offering concessions roughly doubled in the first quarter of 2025, going from 36.4% a year ago to 71.3%, representing the largest increase among the 24 major metros analyzed by Redfin.
What they're saying: "It's super common to see seller concessions for condos and new-construction townhomes," said Stephanie Kastner, a Redfin real estate agent in Seattle.
- "Condos have become a tougher sell because of skyrocketing HOA fees and insurance. And builders are offering concessions because it's in their best interest to keep sale prices high," she said.
The big picture: Researchers looked at 24 metros where Redfin buyers' agents recorded at least 50 closed deals, and they found that more than 44% of sellers nationally are giving buyers concessions — nearly a record high, the real estate site reports.
Zoom in: In Washington state, 24 out of 26 counties in the NWMLS coverage area saw double-digit increases in inventory this year, according to a May snapshot from the Northwest Multiple Listing Service.
- Active listings across the region jumped 47% year over year, reaching 14,500 in April.
- The six counties with the highest increases in active inventory were Snohomish, Columbia, King, Clallam , Whatcom and Grant, per NWMLS.
Zoom out: Portland saw the next biggest increase in seller concessions, per Redfin, up 14 percentage points to 64%.
- After Seattle and Portland, the cities with the next highest overall concession rates are Atlanta, San Diego and Denver.
The intrigue: Some sellers are both cutting their asking prices and offering concessions, but many deals are falling through altogether.
Yes, but: A $50,000 concession on a $1 million home still leaves a heck of a high mortgage.