Seattle Housing Market Update
The Seattle housing market is gaining momentum as we head into spring 2026. Inventory is rising, buyer activity is steady, and mortgage rates are beginning to trend downward. Here’s what you need to know if you’re buying or selling in Seattle, King County, or Snohomish County.
Seattle Housing Market Snapshot (Feb 11–18, 2026)
📊 New Listings Are Increasing
- 589 new listings in King & Snohomish Counties
- Up from 508 earlier this month
- Inventory is ticking up—but not flooding the market
We’re seeing more homes hit the market, but buyer demand hasn’t fully absorbed the new inventory. This is leading to slightly higher overall supply.
Pending & Sold Activity
- 641 pending sales (slightly down from earlier this month)
- 329 sold homes (up from 291)
- 275 price reductions
- 11 contingent sales (buyers needing to sell first)
The data suggests steady activity, but not a frenzied market. Well-priced, move-in-ready homes are still moving quickly—especially newer listings.
King County Real Estate Market
- Median Sales Price: $914,500
- Average Sale-to-List Price: 99%
- Multiple Offers: 35% of pending sales
- Escalation Clauses: 15%
- Financing Contingencies: 68%
- Inspection Contingencies: 41%
Homes are selling close to asking price—not significantly over. About one-third of homes are receiving multiple offers, indicating moderate competition.
Snohomish County Real Estate Market
- Median Sales Price: $805,000
- Average Sale-to-List Price: 105% (5% over asking)
- Multiple Offers: 28%
- Escalation Clauses: 6%
- Financing Contingencies: 84%
- Inspection Contingencies: 41%
Interestingly, Snohomish County flipped from earlier trends and saw homes selling above asking price this week. Week-to-week fluctuations happen, but competition remains present—especially for fresh listings.
Mortgage Rates & Market Impact
According to Mortgage News Daily:
- Rates recently dropped from 6.2% to 6.04% on 30-year fixed loans.
- Buyers can sometimes secure rates in the upper 5% range by purchasing discount points.
If rates fall below 6%, expect increased buyer competition across the Seattle market. Lower rates historically stimulate demand quickly.
What This Means for Buyers
- Competition exists—but it’s not extreme.
- Roughly 1 in 3 homes are receiving multiple offers.
- Inspection contingencies are still common (41%), meaning buyers aren’t widely waiving protections.
- Starting your search early in 2026 gives you more negotiating power before potential rate drops increase competition.
If rates decline further, expect stronger activity and potentially higher home prices.
What This Means for Sellers
- Inventory is rising gradually.
- Buyer activity is stronger than late 2025.
- Listing earlier in the spring may help you capture peak demand before inventory builds further.
Timing matters in 2026. Sellers who list sooner rather than later may benefit from today’s balance of supply and demand.
Bottom Line: Seattle Real Estate Outlook 2026
- Inventory is increasing slowly.
- Buyer demand is steady but not overwhelming supply.
- Mortgage rates remain the biggest market driver.
If rates drop meaningfully into the 5% range, expect a more competitive Seattle housing market. Until then, we’re in a balanced, opportunity-driven environment for both buyers and sellers.
If you’re considering buying or selling in the greater Seattle area—including King County or Snohomish County—having a strategy tailored to current market conditions is key.
Feel free to reach out anytime to discuss your real estate goals for 2026.
