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The average home price of homes in Seattle skyrocketed over recent years but are now more stagnant, giving home buyers some breathign room while giving homeowners plenty of opportunity for equity growth. So, what are home prices in Seattle doing today?
As of February 2026, the average home price in Seattle is $837,193, according to real estate research firm Zillow. They’ve actually decreased 2.1% in value over the past 12 months.
This is good news for home buyers who wish to enter the market.
That said, home prices in the city are expected to increase modestly over the next few months. That’s good news for homeowners who are seeing their equity increase again (or negative equity turning positive).
Given the rise in property values in Seattle over recent years, many homeowners with mortgage insurance may have enough equity that their lenders will allow its removal. Removing mortgage insurance can be as simple as borrowers getting an appraisal to satisfy their lender that the loan is less than 80% of their home’s current market value.
Higher appreciation could also make refinancing at a lower interest rate feasible, too. Any homeowner who was frustrated a year ago because they didn’t have quite enough equity to refinance to a lower rate mortgage may discover that this important money-saving strategy has become a reality. Depending on the size of the loan, even a ½% drop in the rate can save many thousands of dollars in interest.
This healthy rate of appreciation is not necessarily good news for everyone, however. Those who have been on the fence about becoming homeowners risk seeing home prices get beyond their reach. The home that is affordable today may be unaffordable in a year, when the same home could bring higher prices.
This is not to suggest that the outlook is gloomy for Seattle homebuyers. Don’t be fooled by the common narrative about the “normal” 20% down payment, or the impossibly strict lending guidelines. In the words of a certain gentleman from Delaware, that is all “malarkey!” The most important thing is being aware of the rise in home prices and then deciding when and how to act to offset upward-trending expenses.
Purchasing a home in the Seattle market today means not only being protected from rising prices, but having a sound investment for the future as your largest and most important investment—your family’s home—continues to rise in value.
If you’re selling and buying a home in Seattle at the same time, you can take advantage of the equity that appreciation has built into your current home. To manage the move-up process, you’ll want to come equipped with the knowledge and techniques to have a successful experience. One way to improve your preparation is by downloading our free ebook.
If you’re in need of a mortgage in Seattle, WA, Sammamish Mortgage is here to help. We are a mortgage company serving the Pacific Northwest region including Washington, Idaho, Colorado, Oregon, and California. We have been providing mortgage programs with flexible qualification criteria to borrowers since 1992, including our 15-year fixed-rate mortgages, 30-year fixed-rate mortgages, and adjustable-rate mortgages (ARMs), among others. 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.
Whether you’re buying a home or ready to refinance, our professionals can help.
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No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.
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