Home Matters Podcast – March 2025 | Featuring Jason Fox of The Madrona Group
If you’re following Seattle’s ever-changing real estate market, this episode of the Home Matters podcast on KIRO 97.3 FM is a must-listen. Jason Fox, co-founder of The Madrona Group, joined host Pete Lisoskie in-studio for an insightful deep dive into what’s really going on in the Seattle area real estate market — and what it means for buyers, sellers, and real estate professionals alike.
With low inventory, rising interest rates, and shifting buyer psychology, there’s a lot to unpack.
In This Episode, Jason Covers:
- The current state of the Seattle, Snohomish, and Pierce County markets
- Why inventory is still low — and how that impacts both buyers and sellers
- Interest rate predictions for the rest of 2025
- Tips for buyers facing bidding wars and fast-moving listings
- ADUs, DADUs, and creative affordability strategies like house hacking
- The award-winning Madrona Group team and their multi-office success story
- What the “recovery phase” of the market cycle looks like right now
- How to get “buyer ready” or “market ready” depending on your goals
Whether you’re thinking about buying, selling, or investing — or just trying to understand where the market’s headed — Jason brings data, context, and strategy to the conversation.
🎧 [Listen to the full podcast episode on YouTube here]
📍 Or find it on your local airwaves: KIRO Radio 97.3 FM | KTTH 770 AM
Seattle Market Update: Signs of Recovery in 2025
Jason breaks down how 2024 was historically slow for real estate transactions — the lowest in 30 years, to be exact. But as we roll into 2025, he believes we’re in a “recovery year”, and that this shift may set up a multi-year run of steady growth and appreciation.
While we’re not back to the 20% annual growth seen during the pandemic boom, modest gains (around 2–3% projected for 2025) signal a healthier, more sustainable market.
Home Prices & Inventory Snapshot
Jason shared updated inventory levels across the major counties:
- Snohomish County – 1.0 months of inventory
- Seattle/King County – 1.7 months
- Pierce County – 1.4 months
These are far below the 3–4 month levels that signal a balanced market, meaning sellers still have the advantage and buyers must be quick and strategic.
Median home prices, as of the interview:
- Seattle/King County – ~$850K
- Snohomish County – ~$760K
- Pierce County – ~$570K
The Impact of Interest Rates on Buyers
Interest rates remain a hot topic. Jason explains that despite hopeful projections for cuts, it’s likely that rates will stay between 6.5%–7% through the end of the year.
While that’s higher than the “unicorn” rates of recent memory, Jason says buyers are adapting — and emphasizes that trying to time the market rarely works. Instead, focus on what you can afford now and consider creative strategies like:
- Adjustable-rate mortgages
- Co-buying with friends or family
- Purchasing homes with income potential (like DADUs)
ADUs, DADUs & Creative Affordability
Jason also discusses the rise of accessory dwelling units (ADUs and DADUs) as a growing trend in the Seattle area. Recent statewide zoning law changes have made it easier to build additional units on existing lots — and buyers are jumping at the opportunity to house hack.
Whether it’s turning a basement into a rental, building a backyard cottage, or buying with friends, these creative approaches can offset high mortgage costs and help people achieve homeownership in expensive areas.
Buyer Ready vs. Market Ready: How The Madrona Group Prepares Clients
Jason walks through the difference between being “Buyer Ready Day One” and “Market Ready Day One”:
- Buyers: Get educated, fully underwritten, and ready to act fast. In this market, waiting even a day can mean losing the house.
- Sellers: Stage the home, photograph it professionally, and market it across all channels to generate buzz and multiple offers.
From education to execution, The Madrona Group has systems in place to help clients succeed on either side of the deal.
A Look Behind the Scenes at The Madrona Group
Jason also shares some exciting news: Over 50% of The Madrona Group’s 130 brokers won industry awards this past year — double the industry average of 25%. With seven John L. Scott offices across Ballard, Bothell, Mukilteo, Des Moines, Federal Way, Vashon Island, and West Seattle, their reach and reputation continue to grow.
He also introduces his business partner and “Yin Yang twin” Joe Kiser, noting that Joe will join a future podcast episode.
Final Thoughts: The Market Is Moving. Are You Ready?
The Seattle real estate market isn’t waiting around. Whether you’re a buyer trying to compete or a seller wondering when to list, now is the time to get a strategy in place.
✅ Listen to Jason’s full conversation with Pete on the Home Matters podcast to hear real stories, expert advice, and the inside scoop on Seattle’s housing future.
📻 Home Matters Podcast – KIRO 97.3 FM TRANSCRIPT
Guest: Jason Fox, Co-Founder of The Madrona Group
Host: Pete Lisoskie
Aired: March 2025
Pete:
Good afternoon, everybody! This is Pete with Home Matters on KIRO Radio 97.3 FM and KTTH 770 AM. Thanks for tuning in on this Saturday at 2 PM. Today we’re talking about the local real estate market with our expert guest and sponsor, Jason Fox — co-owner of The Madrona Group.
Jason:
Hey, Pete. Great to be back! I always enjoy doing in-studio shows — it’s nice to see the person you’re talking to for a change!
Pete:
Absolutely! You’ve been here before. What’s new with The Madrona Group?
Jason:
We had a strong year despite some tough stats. I’m especially proud that over 50% of our brokers won awards — double the industry average of about 25%.
Pete:
That’s impressive! So, what does it take to win an award?
Jason:
It’s based on production — specifically compensation earned throughout the year. We had a high percentage of agents who hit those thresholds. Out of about 130 brokers across our seven offices, around 65 won awards.
Pete:
That’s something worth celebrating. Any stories that stood out for you?
Jason:
Yes — one of our brokers had a particularly tough year personally. She needed to start over and buy a new place. Instead of folding, she doubled down, worked incredibly hard, and ended up crushing it. She even bought herself a condo by the end of the year.
Pete:
That’s amazing. Sounds like she had support from you, too.
Jason:
I’d like to think I helped a little, but she did the work. She’s a true hustler.
Pete:
And who’s running the show across your offices? You’ve got co-owners, right?
Jason:
Yes. We have different LLCs for different locations. Tony Hettler co-owns Federal Way and Des Moines. Heidi Grimsley and Leslie Ferriel run the Vashon offices. Russ Porter handles Mukilteo and Bothell. And of course, my partner Joe Kiser and I co-own the overall brand — we’re a 50/50 team.
Pete:
I’ve seen Joe on your site — you guys are like the Yin-Yang twins. You’ve known each other a long time?
Jason:
Yeah, we were friends before all this. I helped him with marketing when he got into real estate, and eventually I jumped in too.
🏠 State of the Market: 2025 Outlook
Pete:
So here we are in 2025 — what’s going on with the market?
Jason:
It’s complicated. 2023 and 2024 were the slowest years in decades. But we’re seeing signs of recovery now. This should be a bounce-back year, with maybe five or six years of growth ahead.
Pete:
Where are we in the real estate cycle?
Jason:
Right at the beginning of the recovery phase. Prices are still appreciating, but slower — think 2–3% instead of 20%. Historical average appreciation is about 8%.
Pete:
Seattle’s market seems resilient. Is that tech money still keeping us strong?
Jason:
Yes, and Washington is still one of the fastest-growing states. We tend to outperform national trends here.
💸 Interest Rates & Buyer Mindset
Pete:
What’s happening with interest rates?
Jason:
They’ve plateaued. We’re seeing 6.75%–7%. Despite earlier expectations, rates probably won’t drop much this year. Buyers have adjusted and are no longer waiting for the “perfect” rate.
Pete:
Are buyers getting used to it?
Jason:
They are. Timing the market is almost impossible. Savvy buyers are figuring out how to make today’s rates work for them.
🏘️ Inventory Levels in the Region
Pete:
How’s inventory across the counties?
Jason:
Still very low:
- Snohomish: 1.0 month
- Seattle/King: 1.7 months
- Pierce: 1.4 months
That’s not much. Homes are turning quickly.
🔑 Buyer Strategy: Day One Ready
Pete:
How do you help buyers compete?
Jason:
We do buyer consultations up front — explain the process, contingencies, earnest money. Then we connect them with trusted lenders and get them fully underwritten, not just pre-approved.
Pete:
Do you work with in-house lenders?
Jason:
We have two team lenders and a mortgage branch, but clients can use whoever they want.
Pete:
What does “Day One Ready” mean?
Jason:
It means being financially and mentally ready to write an offer immediately. Homes are getting multiple offers within hours of listing.
🏡 Seller Strategy: Market Ready Day One
Pete:
What about sellers?
Jason:
We do a full listing launch — staging, photography, aerials, open houses, digital marketing. I use a 190-point checklist to make sure everything is dialed in.
Pete:
How do people find your team?
Jason:
Mostly through our sphere — friends, family, and networking. Our agents are active in the community, and we encourage them to build strong local connections.
📊 Median Prices by County
Pete:
Let’s talk pricing. What are median home prices?
Jason:
- King County: ~$850K
- Snohomish: ~$760K
- Pierce: ~$570K
Pierce is more affordable, but still competitive.
🛠️ New Construction & ADUs
Pete:
What’s happening with new construction?
Jason:
ADUs and DADUs are booming. New zoning laws encourage small detached units. We call it the “three-pack” — a main home plus two smaller dwellings. It’s great for affordability and income potential.
💰 Housing Affordability & House Hacking
Pete:
Are buyers getting creative?
Jason:
Absolutely. People are house hacking — renting out basement units or pooling resources with friends. There are also grants and programs for first-time buyers, especially with FHA or VA loans.
🏢 Property Management Services
Pete:
Do you manage rental properties too?
Jason:
Yes — our team at TMG Property Management currently manages about 30 doors. We offer full-service solutions, from tenant screening to maintenance.
Pete:
Jason, this was a great conversation. Thanks for joining me today!
Jason:
Thanks, Pete. Always a pleasure!
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