Seattle Home Prices Jump 4.7% as Median Sale Price Hits $847,000

Seattle-area homes sold for a median $847,000 in the second quarter of 2026, marking a 4.7 percent increase from the same three months in 2025.

The gain arrived as mortgage rates hovered near 6.4 percent and inventory stayed below 2,800 active listings countywide, a level last seen before the 2022 rate hikes. Local buyers competed with cash offers from tech workers relocating within the region, pushing values higher in established pockets rather than new construction zones.

Capitol Hill and Ballard See Strongest Gains

Properties along 15th Avenue East in Capitol Hill moved 6.2 percent higher year over year, with several four-bedroom homes closing above $1.1 million. In Ballard, sales near the intersection of 24th Avenue Northwest and Market Street averaged $925,000, up from $881,000 twelve months earlier. Both areas drew interest from employees at the nearby Amazon campus in South Lake Union and from families tied to the University of Washington’s expansion projects.

Real-estate agents reported multiple offers on homes listed for less than 10 days, particularly those within walking distance of the Seattle Center or the Fremont Sunday market. The pattern differed from outer-ring suburbs, where price growth stayed under 3 percent.

Inventory and Days on Market Data

King County recorded 1,942 closed sales between April and June, according to figures released this week by the Northwest Multiple Listing Service. That total edged up 3 percent from the prior year, yet the median days on market fell to 18 from 22. Single-family homes priced between $700,000 and $950,000 accounted for 61 percent of transactions.

Buyers entering the market now should review recent comparable sales on streets such as Queen Anne Avenue North and Greenwood Avenue North before making offers. Checking property-tax records through the King County assessor’s online portal can also clarify assessed values ahead of negotiations, especially with rates unlikely to drop before fall.