Section Image

Seattle Housing Market

By Elliott Krivenko

Seattle home sales are easing as inventory expands and prices soften from last year

Seattle’s spring market continues to see a surge of new inventory, along with slower sales and increased time on market, putting pressure on prices.

Buyer demand remains constrained as the spring season progresses

Home sales in Seattle totaled 3,736 in April, down about 8% from a year earlier. This continued a trend of declining sales in most months over the past year. Over that stretch, job declines and slowing wage growth have weighed on demand. Population growth slowed across the region, according to the latest Census Bureau data, driven by a decline in international migration and net domestic outmigration.

Inventory rises as homes take longer to sell and new listings surge

Seattle moved from a clear seller’s market a few years ago into more balanced territory. Months of supply increased to 3.8 in April, the highest for that month in over a decade. Months of supply for condos reached 5.4, the highest level for that subtype in April since 2012. This was driven by both an increase in active listings and homes taking longer to sell as demand cools. Total listings increased by 22% over the previous April, with new listings in April 2026 about 14.6% higher than in April 2025.

Pricing gains remain elusive across housing types

Seattle’s median home sale price measured $750,000 in April, edging up slightly from $746,750 in March but about 2% lower than April of last year. All housing types saw price declines, with condos continuing to underperform. That subtype’s median price dropped 9.3% compared to the previous April. With a looser labor market and declining wages relative to inflation, entry-level buyers are especially price sensitive.


Chart showing key indicators for the Seattle housing market for April 2026.
Seattle's median home price stood at $750,000 in April, with 13,401 listings and 3,736 sales.


Seattle Sale Prices

The median home sale price in Seattle decreased by 2.0% compared to the same time last year, while the national median price rose by 1.7%.

Seattle ranks 35th for annual median price change among the top 40 US markets

Seattle median home prices decreased by $15,500 year over year on a nominal basis in April to $750,000. Meanwhile, the national median home price increased by $6,500 to $390,000.

Seattle's median home price is above the nation's

Seattle was the fifth highest-priced housing market among the top 40 largest markets last month. The Seattle median home price of $750,000 was 92.3% above the national median home price. Seattle's median home price in April compares to the market's peak of $782,425 recorded in June of 2025.

Seattle single-family prices decrease

The median price of Seattle single-family homes fell $32,041 over the past year to $802,884, while the median townhome price declined 0.3%, and the median condo price fell 9.3%.


Data point boxes showing key median home price indicators for April in the Seattle market, and comparing them to National figures, with Seattle underperforming national pricing trends.
Seattle dropped to 35th among the 40 largest U.S. markets for home price appreciation over the past year in April. This was after ranking 24th in March.


Bar chart showing Seattle's monthly home sale prices, indicating Seattle ended April 2026 with a home sale price of $750,000.
Seattle’s median home sale price stayed flat between March and April at $750,000.


Area chart showing the year-over-year change in home sale prices, with a 2% decrease in April 2026 compared to April 2025.
Seattle home prices decreased 2% in April compared to the same month in 2025. This continued an overall trend of annual price declines in most months over the past year.


Bar chart showing the year-over-year percent change in median home sale price in April over the past eight years, with Seattle's median home price down 2% in April 2026.
Seattle's median home sale price dropped by 2% in April, continuing a trend of negative to muted price appreciation over the past year.


Horizontal bar chart comparing April median home sale prices across major U.S. markets, with Seattle ranked fifth at $750,000.
At $750,000, Seattle ranked fifth nationally for median home sale price in April, and remained one of the most expensive major housing markets in the U.S.


Horizontal bar chart comparing year-over-year April home price percentage changes across U.S. markets, showing Seattle down 2%.
Seattle ranked 35th out of 40 major U.S. markets for annual home price growth in April, posting a 2% decrease.


Data point boxes showing annual home sale price trends by home type, including single-family, townhomes, and condos, with condos and single-family homes posting price declines and pricing flat for townhomes in April 2026.
In Seattle, all housing types saw flat or declining prices between April 2025 and April 2026.


Grouped bar charts showing Seattle single-family, townhome, and condo sale prices and annual changes, with all housing types seeing flat or declining prices in April.
In April, Seattle's median price fell across all property types, with condos experiencing the largest year-over-year decline.


Seattle Inventory

The number of active listings in Seattle increased by 22.0% in April compared to the same time last year, while national active listings rose by 6.3%.

Seattle's inventory of homes for sale increases

Seattle active listings rose by 2,414 year over year in April to 13,401 active listings. Seattle ranked second, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in April.

Seattle active listings are below their pre-pandemic levels

Seattle active listings were below their pre-pandemic levels in the month of April. Seattle active listings were 0.7% below the April 2019 total of 13,491.

Seattle single-family inventory grows

Seattle single-family active listings grew by 22.2% to 9,679 in April. In comparison, townhome active listings rose by 26.4% to 1,095, and condo active listings increased by 19.4% to 2,627.


Data point boxes showing key active listings indicators for April in the Seattle market, and comparing them to National figures, with Seattle seeing a larger inventory increase than most other regions.
Seattle recorded 13,401 active listings in April, ranking 21st nationally, while inventory rose 22% year over year, the second-fastest increase among major U.S. markets.


Bar chart showing the number of active listings in Seattle each month over the past eight years, with the largest annual increase in listings since 2019.
Seattle's active listings trended up heading into the spring buying season, up 22% year over year.


Area chart showing the year-over-year change in the number of listings, with a 22% increase over the past year.
Seattle added 2,414 more active listings than a year earlier, a 22% annual increase that marked the second-largest percent inventory gain nationally.


Bar chart showing year-over-year percentage change in Seattle April active listings, with a 22% increase in 2026.
Seattle saw a 22% annual increase in active listings in April, marking three years of double-digit gains.


Horizontal bar chart comparing April active listings across U.S. markets, showing Seattle with 13,401 listings, roughly in the middle of the rankings.
With 13,401 active listings in April, Seattle ranked near the middle of major U.S. markets, reflecting a tighter supply than many Sun Belt metros.


Horizontal bar chart comparing year-over-year April active listing percentage changes across U.S. markets, showing Seattle among the top markets, up 22%.
Seattle ranked second nationally for annual inventory growth in April, with active listings up 22% year over year.


Data point boxes showing home listing trends by home type, including single-family, townhomes, and condos, with all housing types seeing double-digit increases over the past year.
All housing types saw double-digit increases in active listings in Seattle over the past year.


Grouped bar charts showing Seattle active listings by property type, with all housing types seeing a double-digit annual percent increase in listings in April 2026.
Inventory growth was broad-based across housing types, with all types posting double-digit increases over the past year.


Seattle Home Sales

The number of home sales in Seattle decreased by 8.0% in April compared to the same time last year, while national home sales rose by 0.6%.

Seattle home sales decrease

Seattle home sales declined by 324 year over year on a nominal basis in April to 3,736. For context, 4,060 sales closed in Seattle in April 2025.

Seattle's annual home sales activity change ranks 39th nationally

Seattle ranked 39th for the annual change in home sales out of the top 40 U.S. markets in April on a percentage basis. This year's April decrease of 8.0% compares to the 0.5% year over year decrease in April 2025.

Single-family sales in Seattle are lower than a year ago

Seattle single-family sales decreased by 6.4% in April to 2,997. In comparison, townhome sales fell by 17.3% to 234, and condo sales fell by 12.2% to 505.


Data point boxes showing key home sale indicators for April in the Seattle market, and comparing them to National figures, with Seattle underperforming the National sales trend.
Seattle home sales declined 8% year over year, ranking 39th among the nation's 40 largest housing markets.


Bar chart showing Seattle monthly home sales over the past eight years, with April sales remaining historically low at just 3,736 units.
Home sales in Seattle totaled 3,736 in April, remaining well below pre‑pandemic norms and reflecting subdued buyer activity, despite a seasonal uptick in March and April.


Area chart showing the year-over-year change in Seattle-area home sales, with an 8% decrease in April 2026 compared to the same month in 2025.
The number of homes sold in April was down by more than 8% compared to the same month in 2025.


Bar chart showing annual percentage change in Seattle April home sales, with a 8% decline in 2026.
Seattle’s April home sales dropped 8% from the prior year, extending a period of weaker transaction volumes.


Horizontal bar chart comparing April home sales across major U.S. markets, showing Seattle with 3,736 transactions.
With 3,736 April home sales, Seattle ranked 13th among major U.S. markets by transaction volume.


Horizontal bar chart showing year‑over‑year April home sales percentage change across U.S. markets, with Seattle down 8%.
Seattle ranked 39th among the top 40 U.S. markets for annual home sales growth in April, posting an 8% year-over-year decline.


Data point boxes showing Seattle home sales by property type, with sales down year over year across property types.
Sales declines were broad‑based across housing types, with townhomes posting the largest decline at 17%.


Grouped bar charts showing Seattle home sales by property type, with townhomes showing the greatest decrease at 17%.
Denser housing types saw the largest drop in closed sales in April, with townhome sales down 17% and condo sales down 12%.


For questions and commentary about this report:

Elliott Krivenko, Senior Director of 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 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 transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Seattle during April 2026.

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.

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.

Definition of Inventory

Inventory is the number of unique active listings that were for sale 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.

Definition of Home Sales

The total number of closed home sales on the MLS during the 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.

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.

Read Full Bio

To explore previous editions of this report, please visit our archive.