Greater Seattle Housing Market News

6,757* King County home listings - Expect sustained large number of new listings through Summer with buyer activity/absorption rates fluctuating in regular seasonal patterns. Inventory typically peaks in August/ September with new listings peaking in July/August.

*Avg between 3-7K

6.25%* (avg 30yr fixed**), up m/m, up w/w, volatile, but in the expected 6.5-7 range expected of 2026

https://www.mortgagenewsdaily.com/mortgage-rates/30-year-fixed

*based on survey of 200 lenders top tier current loans (usually 15% down, 680+ credit)**“Average 30yr fixed“ is standard for reporting - The 50 year average of the “average 30-year fixed” is ~7.75%.

The holiday week amplified seasonal slowing as new listings spiked while closings fell sharply across the region. King, Seattle, and Eastside each saw inventory rise on a flood of new listings, with pendings soft and solds nearly halved. Pierce and Snohomish showed the same trend—more listings, fewer sales, and flat pendings—while Skagit stood out with a strong jump in pendings despite weaker closings. Other counties, including Whatcom, Thurston, Island, San Juan, and Kitsap, all softened with fewer transactions and lighter new listing flow. Even with reduced activity, days on market, median active price, and median sale price held steady, pointing to resilient pricing as buyers paused during the holiday week.

Early September brought a noticeable cool-down across most Puget Sound counties. King and Pierce saw rising inventory but sharp declines in pendings and solds, while Snohomish and Skagit showed more balanced demand with pendings trending up despite softer closings. Whatcom County was the strongest, with both pendings and solds rising even as inventory slipped. In contrast, Thurston, Island, San Juan, and Kitsap experienced slower sales and contracting demand. Overall, the market is shifting toward longer timelines and softer activity, with a few counties holding firmer than others.