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Over the past few years, the Seattle real estate market has favored sellers over buyers due to tight inventory and soaring demand. But what will 2026 look like?
Buyers and sellers are used to sky-high prices in Seattle, as one of the most expensive housing markets in Washington State and the country as a whole. But what type of market will Seattle look like throughout the remainder of the year?
Over the past decade, the average home price in Seattle has skyrocketed. To put things into perspective, the average price for a home went from $372,000 in 2012 to $832,857 today, according to Zillow.
However, home prices in the city saw a 2.1% decrease over the past 12 months. That said, home prices in Seattle are expected to rise throughout this year, albeir at a very modest pace.
These developments have a lot of people asking the same question: Will Seattle become a buyer’s market in 2026? The short answer is “probably not.”
Seattle is notorious for having very tight inventory. There is typically not enough housing supply to meet buyer demand.
We’ve covered these inventory changes in previous blog posts. For example, we wrote about a significant increase in the number of homes and condos for sale in the Seattle area. And then we shared a report that revealed a surge in condo development in both Seattle and neighboring Bellevue, Washington.
But as of right now, inventory in the city of Seattle, the Seattle Metro Area, and King County as a whole is very tight. A balanced market is one that has anywhere from 5- to 6-months’ worth of housing inventory. But in Seattle, there’s around a 2.2-month supply, which goes to show how far off a balanced market it currently is.
The question is, will the inventory situation change over the coming months? As sellers start holding off on listing their properties for sale to ride out the current health crisis, many might say that the inventory situation might remain very low as fewer homeowners may be listing their homes.
Trends are affecting the buyer-to-seller dynamic in the area. It’s certainly looking like an ongoing seller’s market right, and may likely continue to be throughout 2026.
Not clearly for the entire market. It’s unlikely to be a full buyer’s market city-wide in Seattle in 2026, because overall supply still hasn’t reached sustained 4–6+ months of supply and demand remains steady in many segments.
But some pockets and segments are trending toward balance — especially condos or higher-priced tiers where inventory has grown more quickly.
Buyers will likely find more negotiating power and less frenzied competition than in past years, but Seattle’s market as a whole — driven by job growth and limited long-term supply — is still tilted toward sellers.
Will you need mortgage financing to buy a home in Seattle, WA? We can help. Sammamish Mortgage has been serving buyers across the Pacific Northwest since 1992. We offer a wide variety of mortgage programs and products to buyers across Washington, Idaho, Oregon, Colorado, and California. Visit our website to get an instant rate quote or to use our online mortgage calculator. Please contact us if you have any questions or are ready to get pre-approved for a mortgage.
Home prices have shown mixed trends, with some reports indicating slight declines year-over-year while others expecting modest gains or stability this year.
Homes still sell relatively quickly but are less frenzied than peak conditions, with average days on market around 40+ days in recent data.
Seattle generally leans seller-friendly, though higher inventory and incentives have given buyers more leverage.
Yes — a significant share of sellers now offer incentives like closing cost help, more so than many other U.S. metros.
Single-family homes and condos can show different trends, with condos sometimes facing slower demand and longer days on market.
In some reports, condos have higher inventory and longer market times than single-family homes.
Neighborhoods like Capitol Hill, Northeast Seattle, and Downtown each have distinct price ranges and demand levels.
Higher mortgage rates around 6%+ have made affordability more challenging for buyers.
Yes — recent analyses show renting can currently be less expensive month-to-month than owning, though homeownership builds equity.
Forecasts indicate continued moderate price movement and balanced conditions, driven by demand, limited supply, and economic factors.
Whether you’re buying a home or ready to refinance, our professionals can help.
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