A homebuilder is adding more single-family options to the Seattle-area’s housing stock — even as the region closes the year out with weakened residential demand.
Developed by KB Home, McCormick Trails sits in Port Orchard, Washington. Priced around the mid-$500,000, the development of two-story residences maxes out at five bedrooms and three and a half bathrooms.
The master-planned homes are being built west of Seattle and across Puget Sound, offering residents parks, pickleball courts and walking trails, among other amenities. When construction wraps, KB says, the development will have 44 units.
Days after opening McCormick Trails, KB Home announced the opening of Silver Lake’s Ambleside, a development of two- and three-story homes priced from the $970,000s. Tucked into the “sought-after city of Mill Creek,” KB wrote, the development will have 38 homes when completed. The project is about 25 miles north of Seattle, and the homes can be personalized, giving buyers with growing or multigenerational families a degree of flexibility.
“KB Home continues to grow its presence in the Seattle market with the focus to be one of the leading homebuilders by volume in the area,” KB Home’s Seattle division president Ryan Kemp wrote to Homes.com. “We have been very active in the market, acquiring new land and [planning] to open several new communities in 2026 and beyond.”
Currently, KB Home has north of 20 residential developments with homes either on the market or under construction, Kemp continued, saying the work was “throughout the Seattle area in some of the most successful submarkets.”
Seattle area sees listings rise, prices fall
But success could be hard to come by in Seattle’s current residential market.
Ambleside sits in Snohomish County, where residential demand is tepid, based on data from the Northwest Multiple Listing Service. Population growth in Mill Creek has been flat over the past couple of years, the number of active listings has increased, and pricing has decreased over the past year. The county has also seen a dip in pending and closed sales.
"The Seattle region experienced one of the largest year-over-year price drops,” explained Elliott Krivenko, CoStar’s director of market analytics for Seattle (CoStar is the parent company of Homes.com). “At the point we're at in the cycle now, demand is down across the board. Two or three years ago, when a builder might’ve started a project, things in the area may have felt more like a seller's market than they do now."
In Kitsap County, where McCormick Trails is located, closed residential sales are also down year over year.
KB Home could not comment on market conditions before its Dec. 18 earnings call, the company said. Headquartered in Los Angeles, KB Home closed more than 14,000 residences in 2024, according to Pro Builder.