Local Market Update – March 2026 - Windermere Capitol Hill

The W Report - Local Market Update – March 2

Local Market Update – March 2026

Spring Arrives Early as Buyer Activity Picks Up

The spring real estate market got an early start this year. All four of our local markets saw a notable increase in homes selling above list price in February compared to January, a clear sign that buyers are becoming more active. More sellers are coming to market as well, giving buyers a broader selection to work with than they had just a few months ago.

Prices have remained relatively stable through this shift, which points to markets that are finding their footing rather than swinging in either direction. And with mortgage rates running lower than they were a year ago, homeownership is becoming a little more within reach for many buyers, even without dramatic price drops.

As we move deeper into spring, the balance between growing inventory and rising buyer demand will be worth watching closely. The early signals suggest momentum is building.

King County: Sellers Return but Buyers Stay Selective

King County's median single-family home price edged up 2% from February of last year, from $915,000 to $936,000. Sellers came to market in significant numbers, with active listings jumping 42% year over year. Buyer activity, however, didn't quite match that pace, with pending sales dipping 3% compared to the same time last year.

In the condo market, the median price fell 11% to $545,000 while active listings climbed 25%, continuing a trend of softer condo pricing alongside growing supply.

Seattle: Steady Prices as Inventory and Activity Build

Seattle's median residential sold price held steady in February at $962,500, essentially flat compared to a year ago. Listings rose 34% year over year, giving buyers meaningfully more to choose from than they had at the same time last winter. Pending sales were up 8%, a positive sign of buyer engagement, though closed sales slipped 9% from last year.

In the condo market, prices dipped 5% year over year from $625,000 to $596,275, with active listings growing 20% over the same period.

Eastside: Supply Surges as Prices Soften

The Eastside saw one of the most significant inventory increases in the region, with active listings jumping 58% year over year in February. Demand didn't rise to meet that new supply, however. Pending sales were flat compared to last year and up just 1% from the prior month, leaving buyers with more negotiating room than they've had in some time.

Prices reflected that shift. The median single-family home price fell 7% year over year, from $1,685,000 to $1,566,782. The condo market saw a sharper correction, with the median sold price dropping 23% to $607,750 while inventory climbed 37%.

Snohomish County: Inventory Grows as Market Finds Its Pace

Snohomish County saw strong inventory growth in February, with active listings up 47% compared to the same time last year. The median residential sold price slipped 4% year over year, from $785,000 to $749,997, a modest adjustment relative to the significant increase in available homes. Pending sales edged up 3%, though closed sales fell 8%, pointing to a pipeline that is still catching up.

The condo market told a slightly different story, with prices holding nearly flat, up just 1% to $530,000, while active listings surged 62% year over year.

Looking Ahead

With the busy season now underway, more inventory and lower rates than a year ago are creating real opportunities for buyers and sellers across the region. Steady demand alongside growing supply means today's market rewards preparation and smart strategy over simply waiting for conditions to shift.

Whether you're looking to buy or sell, having an experienced Windermere agent in your corner who knows these neighborhoods and understands the nuances of this market can make all the difference in achieving your goals.