Seattle Housing Market

By Elliott Krivenko

The median home sale price in Seattle dropped 3.8% in January of 2026 compared to the same month the year before.

Seattle home prices continue to soften

Seattle’s median home price fell to $683,000, a $27,000 drop from the year before. This is a 3.8% decline, the weakest annual price appreciation since March of 2023, and the seventh month in a row in which the median sale price was either flat or falling on both a monthly and an annual basis.

Seattle ranks near the bottom for price appreciation

Seattle’s median home price decline of 3.8% over the past year was the second lowest, behind only Raleigh, North Carolina, where prices fell by 4.3%. A significant reduction in employment within major sectors, including information technology and warehousing, has adversely affected demand. As a result, Seattle has consistently ranked near the bottom of the U.S. housing market for several months.

Seattle condos face the steepest declines

Seattle’s condo market has seen the sharpest price decline. The median sale price of a condo in Seattle decreased by 12.2% over the past year, down $67,000 from January 2025. This was the largest drop in condo prices since March 2012. Meanwhile, townhome prices were flat over the past year, and single-family homes saw a more modest 2.4% decline. This continues a trend of condo units significantly underperforming the overall Seattle market over the past few months.


Data point boxes showing key median home sale price indicators for January in the Seattle market, and comparing them to national figures, with Seattle underperforming national pricing trends.
Among the 40 largest housing markets in the US, Seattle ranks as the 7th most expensive and 39th for price appreciation.


Bar chart showing the median sale price for a Seattle home each month since 2018.
Seattle's home prices have trended downward since June 2025.


Line chart showing annual change in sale prices for the Seattle region since 2018.
Seattle saw an annual decline in the median home sale price every month since June 2025.


Chart showing the annual percent change in the median sale price each month since 2018.
The Seattle market has seen price moderation for most of the past year.


Bar chart showing the median sale price in Seattle in January each year since 2018.
The Seattle housing market has lost most of its gains from the previous year.


Bar chart showing the year-over-year percent change in median home sale price in Seattle in January over the past eight years.
Seattle saw a 3.8% decrease in the median home sale price in January, its first January drop in over a decade.


Bar chart showing median home sale prices in November, with Seattle ranked 7th out of 40 US markets.
Seattle ranked 7th among the top 40 US markets for home sale prices in January, with a median sale price of $683,000.


Bar chart showing the percentage change in home sale prices in January compared to the same month the previous year, with Seattle ranked 39th out of 40 U.S. markets.
Seattle ranked 39th among the top 40 US markets for home price appreciation in January, based on the percentage change in the median home sale price over the past year.


Data point boxes showing home sale price trends by home type, including detached, attached, and condos, showing that condos experienced an annual 12.2% decline in home sale prices in January 2025.
Condos in Seattle posted the steepest decline among housing types, with prices down 12.2% year over year.


Bar charts comparing the sale prices and annual percent change for detached homes, attached homes, and condominiums. Condominiums underperformed with a 12.2% price drop over the year.
In January, Seattle condo prices dropped 12.2% year-over-year, attached units were unchanged, and detached home prices fell 2.4%.


For questions and commentary about this report:

Elliott Krivenko, Senior Director of Market Analytics at CoStar and Homes.com, based in Seattle, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Elliott Krivenko

Senior Director of Market Analytics

Homes.com

ekrivenko@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all home sales are accounted for, they provide an early indication of home sale price appreciation in Seattle during January 2026.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.

Writer
Elliott Krivenko

Elliott Krivenko is the Senior Director of Market Analytics for CoStar and Homes.com in Seattle, where he covers commercial and residential real estate trends across Washington, Alaska, and Montana. Elliott has more than 20 years of experience in real estate research, having previously served as Research Director at the Downtown Seattle Association. He speaks at industry group events such as the Washington Multi-Family Housing Association, the Pacific Northwest Regional Economic Conference, and various chambers of commerce. His insights have been included in the Puget Sound Business Journal, the Seattle Times, and KUOW. Elliott holds a master’s degree in community development from Antioch University Seattle.

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