Seattle Home Prices Rise 4.8% in Q2 2026

Seattle median home prices increased 4.8 percent during the second quarter of 2026 compared with the same three months in 2025, reaching $892,000.

The gain arrives as mortgage rates hover near 6.4 percent and inventory remains below pre-pandemic levels in the city core. Buyers who delayed purchases earlier this year now face tighter competition in neighborhoods where new listings hit the market at a slower pace than last summer.

Capitol Hill recorded the largest year-over-year jump among central districts, with the median sale price climbing to $1.15 million. Properties near the intersection of 15th Avenue East and East Pine Street changed hands 12 percent faster than in the second quarter of 2025. In Ballard, median prices reached $975,000, driven by sales along 24th Avenue Northwest and near the locks. The Seattle Housing Authority reported that its voucher program saw a 9 percent drop in successful lease-ups in these two zip codes during the same period.

Inventory and Sales Trends

Active listings citywide stood at 2,840 units on June 30, down 11 percent from the year-earlier figure, according to the Northwest Multiple Listing Service. Closed sales totaled 3,112 in the quarter, nearly identical to the 3,104 recorded in April through June 2025. The King County Assessor’s office noted that assessed values for single-family homes in the 98103 and 98122 zip codes rose an average of 5.1 percent between January and June.

Condominium prices followed a similar path. The median condo sale price reached $615,000, up 3.9 percent from the second quarter of 2025. Buildings along the waterfront in the Belltown neighborhood contributed most of the volume, with 187 units closing in the three-month span.

Buyer Considerations

Prospective purchasers should review recent comps on streets such as Greenwood Avenue North before making offers. Local agents recommend locking in financing pre-approvals and preparing for appraisal gaps that averaged $18,000 on homes listed above $900,000 in the past quarter. The next data release from the Northwest Multiple Listing Service is scheduled for October 9.