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Condos provide buyers with a more affordable housing option while offering certain convenience that traditional single-family homes might not. The question is, what is the Seattle condo market forecasted to be like in 2026?
We’re heading into 2026, and that means a lot of Seattle condo buyers are starting to come out of the woodworks following the holidays. And many are wondering the same thing: What will the Seattle condo market be like in 2026? Are prices expected to continue rising? And what about inventory?
In order to create a forecast for the Seattle condo market in 2026, we have to look at what’s happening right now. So let’s start with some current trends.
Seattle’s condo market in 2025 has seen significant increases in inventory, shifting the dynamics from a historically tight seller’s environment toward more balanced conditions. Active condo listings have surged year-over-year — in some months by more than 50% — with several hundred units on the market, reflecting both new listings and slower absorption rates.
This has pushed months supply into the ~4–5-month range, a level typically associated with a balanced or normal market, rather than a seller’s market.
The impact of rising inventory is clear: some neighborhoods now exhibit very different conditions, with tighter supply (under ~3 months) in Northwest and West Seattle, while downtown and other areas have closer to ~6 months or more. Buyers have more choices than in recent years, but demand remains uneven, and areas with excess supply are showing longer days on market and, in some cases, price adjustments.
Some data show overall condo prices in Seattle remain fairly flat to slightly down, with median citywide sales around ~$550,000 and certain neighborhoods like West Seattle and Queen Anne seeing noticeable declines, while others (Northwest Seattle, Capitol Hill) saw modest gains.
Condos—especially older high-rise units—have faced soft demand and rising inventory, making pricing conditions less competitive than single-family homes.
On the rental side, Seattle continues to be one of the nation’s pricier markets. Average rent in Seattle hovers near $2,000–$2,200/month, reflecting steady demand, though some sources show minor fluctuations or cooling at times. Limited new construction and growth in renter households may keep rents elevated (or rising modestly) in 2026, even as supply and rent-control policies influence pricing.
Related: Low inventory lifting prices in housing markets
The Seattle condo market in 2026 is likely to experience modest stabilization or mild price growth after a period of rising inventory and softer demand in 2025. Inventory remains elevated compared with earlier years, giving buyers more options and reducing pressure on prices, especially for older high-rise units.
However, broader housing forecasts point to a slowly improving balance between supply and demand, which could support slight condo price appreciation as mortgage rates potentially ease and buyer confidence gradually returns.
Forecasts for the overall Seattle housing market suggest moderate price growth of roughly 2–5% in 2026 due to tight long-term supply and steady demand, and if these trends extend to the condo segment, well-priced units may see small gains or stabilization rather than sharp declines.
Buyers may find more bargaining room in areas with higher inventory, while units in desirable neighborhoods with limited supply could outperform the broader market.
As a result of competitive conditions, Seattle condo buyers would be wise to arrange their financing before entering the market. For cash buyers, this means having the money in the bank with documents to verify it.
Condo buyers who use mortgage loans can get a head start by getting pre-approved for a loan. In a competitive real estate market like Seattle, a pre-approval letter can make the difference between a purchase offer being accepted or rejected.
A new flood of inventory could have a cooling effect on home prices across the metro area, and especially within Seattle and Bellevue.
For the last few years, this region has experienced a supply-and-demand imbalance that has led to skyrocketing home values. This in turn has created affordability issues for a large portion of the population.
Population growth is a contributing factor in all of this. The Seattle metro area’s population grew by 2.4% year-over-year, with a population now over 816,000 as of January 2026.
It stands to reason that a significant increase in housing supply across Seattle and Bellevue would tip the scales, bringing annual home-price appreciation down closer to historical norms. And that would be a positive development, from an economic standpoint.
But as things stand right now, we’re seeing tight inventory, which is contributing to continued increases in condo prices in Seattle.
If you have any questions about home loans in Seattle or anywhere else in Washington State, Sammamish Mortgage can help. We are a family-owned and operated Mortgage Company that has been proudly serving the Pacific Northwest since 1992. We currently lend in all of Washington, Oregon, Idaho, Colorado, and California. With their wide offerings in mortgage programs and flexible qualification criteria, including our Diamond Homebuyer Program, Cash Buyer Program, and Bridge Loans, among many others. Visit our website to use our mortgage calculator or get an instant rate quote. Or call us with Sammamish Mortgage today!
Whether you’re buying a home or ready to refinance, our professionals can help.
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