Market Update — July 2026
We firmly believe timely and relevant data is key to making good decisions. To this end, we are committed to providing our community and clients with actionable data and insights about the local real estate market.
Local real estate market
With the data from May 2026 in, here’s an overview of the key aspects of the local real estate market. The real estate data below is collected from Northwest Multiple Listing Service (NWMLS).
Median price: The chart below shows the latest median sales prices of homes over the past 5 years in the Greater Seattle area over the past five years:
Homes sold: 6,847 homes were sold in June 2026, which is about the same YOY (6,694 in June 2025). The median price of $650,000 showing a 3% decrease YOY. This total sale volume translates to a dollar value of about $5.7B.
Months of inventory: Given the current quantity of supply, it’ll take 3.37 months for every listed home to sell. To put this number in perspective, note that the months of inventory for a balanced market is considered to be 4 to 6 months. The counties with the lowest months of inventory were Kitsap (2.15), Cowlitz (2.47), Clark (2.56), Pierce (2.66), and Snohomish (2.74), indicating tighter market conditions in those areas.
Median price: The counties with the highest median sales prices were San Juan ($1,012,500), King ($889,000), and Snohomish ($725,500), while the lowest median prices were recorded in Adams ($226,000), Columbia ($244,900), and Wahkiakum ($268,000).
New listings: 11,617 new listings were added to the NWMLS database in June 2026 representing a YOY incrase of 6%.
Mortgage rates: The Freddie Mac rate has shown no significant monthly change.
Primary Mortgage Market Survey — Average 30-Year Fixed Mortgage Rates over the past 5 years (Source: Freddie Mac)
Broader U.S. economy
Inflation Comes in Below Expectations: June brought encouraging inflation news, with both consumer and wholesale prices coming in lower than expected. Consumer prices fell 0.4% for the month, helped by a nearly 10% drop in gasoline prices, while annual inflation slowed to 3.5%. Core inflation, which excludes food and energy, was unchanged from May and rose 2.6% over the past year. Wholesale prices also declined from May to June, helped by lower energy costs.
Home Equity Remains a Key Wealth Building Tool: Turning to price trends, U.S. home prices increased 0.26% from June to July, according to ICE’s
latest Home Price Index report, bringing year-over-year appreciation to 1.7%.
