Seattle Housing Market Update: September 2026

If you've been waiting for the Seattle-area market to give buyers a break, this is the fall you've been waiting for. The story of summer 2026 was simple: a lot more homes came up for sale, buyers slowed down, and prices mostly held their ground instead of falling apart. As we head into September, we've got the most inventory we've seen in years, sellers who have to actually compete again, and buyers who finally have room to think before they write an offer.

I'm Jeff Thornton. I live in Shoreline and I show houses all over the north end and Snohomish County, so let me walk you through what the numbers actually say and what they mean for you this fall.

What Changed This Summer

For the last few years, the Seattle market ran hot in one direction. This summer it evened out. According to the Northwest Multiple Listing Service (NWMLS) July 2026 Market Snapshot, "the total number of properties listed for sale increased 19.8% year over year, with 24,888 active listings on the market at the end of July 2026, compared to 20,781 at the end of July 2025." Locally, the two counties I serve saw some of the biggest inventory jumps in the state: NWMLS reported Snohomish County up 34.7% and King County up 23.7% year over year.

More choice for buyers means more competition for sellers. That's the whole ballgame right now.

King County Home Prices (July 2026 NWMLS Data)

The most recent official NWMLS release is the July 2026 Market Snapshot, published August 4, 2026. The August report is expected in the first few days of September, so I'll update these numbers as soon as it lands.

Here's where King County stood through the end of July, per NWMLS data:

• Countywide median sale price (houses and condos combined): $879,500
• King County single-family inventory finished July around 5,442 homes for sale, up roughly 26% from a year earlier
• The single-family median came in at $995,000, down about 0.5% year over year — essentially flat, holding right near the $1 million mark
• Months of inventory climbed to about 3.4 months, up from 2.4 a year ago northendhomes
• Homes averaged about 25 days on market, up from 22 northendhomes
• Sellers received about 99% of their final list price

So prices essentially held while inventory grew a lot. That's the key takeaway. Values didn't crash, but sellers are no longer the only game in town.

Snohomish County Home Prices (July 2026 NWMLS Data)

The shift toward more buyer choice is even more obvious up north. Per the NWMLS July 2026 report, "the combined median sales price was $719,000, down 6%" year over year for Snohomish County.

Looking at single-family homes specifically:

• Single-family inventory of roughly 2,246 homes, up about 37% from a year earlier
• Single-family median of $757,250, down 5.9% from last July
• Months of inventory rose to about 3.0 months, up from 2.1 northendhomes
• Homes averaged about 29 days on market northendhomes
• Sellers received about 99% of their final list price northendhomes

Around here specifically, the local picture is a patchwork, and that matters more than the countywide number. Edmonds has been one of the strongest markets in the whole region — the walkable downtown, the ferry, and limited supply keep prices firm, with Redfin recently putting the median around $940,000, up about 4.4% year over year. Lynnwood, sitting right on the light rail line, has stayed active in the mid-to-high $700s. Everett remains the affordable anchor of the county in the mid-$600s. Mountlake Terrace, with its own Link station right on the King–Snohomish county line, is one of the best values around for anyone who wants King County transit access at a Snohomish County price, running around the mid-$600s. And Shoreline, my home base, is running near $785,000 with well-priced homes still selling in roughly a week.

If You're Selling This Fall

The post-Labor Day window is real. A lot of families who paused over the summer come back to their searches in September, and serious buyers who need to be settled before the holidays start moving with intent. But you're launching into more competition than sellers faced a year ago, so how you come to market matters more than it has in a while.

A few things I tell every seller right now:

• Price it right on day one. The homes that sit are almost always the ones that opened too high and chased the market down. Buyers today have options, and an overpriced listing just makes the correctly priced one down the street look like a deal.
• Condition and presentation are back to mattering. When there were three buyers for every house, people overlooked the dated kitchen. Now they don't have to. Fresh paint, clean landscaping, good photos, and easy showing access all do real work.
• Watch the first two weeks. Showings, saved listings, and second visits tell you everything before days-on-market starts talking for you. If it's quiet in week one, adjust fast.
• Consider a buyer credit before a price cut. Sometimes a targeted closing-cost credit solves a buyer's monthly payment problem more efficiently than shaving another $15,000 off the price. It's worth running both scenarios before you react.

If You're Buying This Fall

This is the most negotiating room buyers have had in years, and fall usually adds a little more. Here's what that leverage looks like on the ground:

• Inspection contingencies are back. During the frenzy, buyers were waiving inspections to win. Today you can usually keep that protection and still get an accepted offer. That alone is a big deal.
• More time to decide. With homes sitting longer, you're less likely to get bulldozed into a same-day decision.
• Room to negotiate. Price, repairs, closing-cost credits, and rate buydowns on new construction are all on the table again, especially on listings that have been sitting or on builder inventory.
• Don't confuse leverage with permission to lowball a great house. The genuinely nice, well-priced homes in Shoreline, Edmonds, and Lynnwood still move quickly and can still see multiple offers. Leverage helps you on the average listing, not the exceptional one.

Fall inventory tends to be a little more motivated, too. A seller listing in October usually has a reason to move, which can work in your favor.

A Quick Word on Rates and Affordability

I'll keep this short, because this is a real estate update, not a rate report. Per Freddie Mac's Primary Mortgage Market Survey, Chief Economist Sam Khater reported the 30-year fixed-rate mortgage "averaged 6.66% as of August 27, 2026." On the policy side, the Federal Reserve voted 9–3 on July 29 to hold its benchmark rate at 3.50%–3.75%, and its next decision comes September 16. Rates in the high sixes are the reality buyers are planning around. Using a sample 6.66% rate for illustration purposes, the difference between buying now with room to negotiate and waiting for a hypothetical lower rate — into a market where everyone else piles back in and competition returns — is a real trade-off worth talking through. I'd rather help you run your actual numbers than guess.

My Take

I think this is one of the healthier markets we've had in a long time, and I mean that for both sides. Sellers can still get strong prices for homes that show well and are priced correctly, and buyers finally get to breathe, inspect, and negotiate. Prices held through a big jump in inventory, which tells me the demand to live here is still real, even with the tech-sector layoff news you've been reading about.

If you're a seller, don't let the "more inventory" headlines scare you into underpricing, and don't let last year's comps talk you into overpricing. If you're a buyer, this is a genuinely good window, and I'd rather you buy the right home with your contingencies intact than try to time the market perfectly. Nobody I know has ever nailed that.

Frequently Asked Questions

Is now a good time to sell my house in Seattle or Shoreline? Yes, if your home is priced right and shows well. Prices have held steady, and motivated buyers come back in the fall. Just know you're competing against more listings than last year, so pricing and presentation are what win.

Are home prices dropping in King County? Not really. The King County single-family median was $995,000 in July 2026, essentially flat year over year, even as inventory rose about 26%. Prices are steady, not falling. Some individual cities are up and some are down, so the neighborhood matters more than the countywide number.

Is it a good time to buy a house in the Seattle area right now? For many people, yes. Buyers have the most leverage in years, inspection contingencies are back, and you have time to make a smart decision instead of a panicked one. The right home in a good neighborhood is still worth acting on.

What's happening with the market in Snohomish County? Inventory is up sharply — roughly 37% for single-family homes — and the single-family median dipped to about $757,250. Buyers have real choice, but well-located homes still sell quickly. It varies a lot by city and price point.

Will the fall market slow down? Historically, the Seattle-area market cools from the spring and summer peak into the holidays, with fewer buyers but often more motivated sellers. That's usually good news for buyers who keep looking through October and November.

Let's Talk

If you're thinking about a move this fall, I'd love to help. I'll give you a free, no-pressure home value opinion if you're selling, or a buyer strategy call if you're looking. I've worked this market since 2014 and I live right here in the north end, so you'll get straight answers about your specific neighborhood and price point.

Call or text me at 206-412-5759, email jeff@wahomecoach.com, or visit wahomecoach.com.

Jeff Thornton is a Realtor with eXp Realty based in Shoreline, WA, serving King and Snohomish Counties

Jeff Thornton, Realtor, eXp Realty (NWMLS), WA License #87169. Equal Housing Opportunity.