Local Market Update – April 2026 - Windermere Capitol Hill

The W Report - Local Market Update – April

Local Market Update – April 2026

Reading the Room: What the Spring Market Is Telling Us

Spring is here, and with it comes the annual wave of new listings, hopeful sellers, and buyers cautiously watching the market. But this March delivered something a little more complicated than a typical spring surge. Inventory climbed across the region, and yet buyers didn't exactly rush in. The result? A market that looks and feels quite different depending on which neighborhood you're watching.

Here's a breakdown of what we're seeing across the region.

King County: Sellers Return but Buyers Stay Selective

The headline number looks reassuring: the median residential sale price held steady year over year at $975,000. But dig a little deeper and there are signs of hesitation. Active listings jumped 42% compared to last March, while both closed and pending sales ticked down slightly. More homes on the market, fewer transactions to show for it. In the condo space, a similar story is unfolding, with the median sale price slipping to $550,000 and inventory up 25%. Price and rate sensitivity are still very much in the picture for buyers at higher price points.

Seattle: Steady Prices as Inventory and Activity Build

Seattle tells a more encouraging story. The median residential sale price pulled back 6% to $944,000, and that moderation seems to have moved the needle. Closed sales rose 7% and pending sales held steady, even as more listings entered the market. When prices adjust to meet buyers where they are, things tend to happen. The condo market followed a similar pattern, with a modest price dip and inventory growth of 17% year over year.

Eastside: Supply Surges as Prices Soften

The Eastside is navigating a more pronounced recalibration. The median residential sale price fell 9% to $1,550,000, and active listings surged 60%. Despite all that new inventory, pending sales dropped 15%, which suggests buyers are being highly deliberate, even with more choices available. The one bright spot: condos, where the median sale price actually rose 3% to $728,000, though inventory growth of 40% could test that stability going forward.

Snohomish County: Inventory Grows as Market Finds Its Pace

Snohomish saw a 49% jump in active listings, but demand hasn't caught up. Pending sales fell 8%, and while closed sales edged up slightly, the pipeline doesn't point toward sustained momentum. The median residential sale price slipped 3% to $769,950, and the condo market faces similar headwinds with a 62% increase in active listings year over year.

Looking Ahead

March’s trends reinforce that we’re in a market that rewards patience and preparation on both sides of the transaction. For buyers, expanding inventory and moderating prices in several markets represent a genuine shift from the conditions of recent years, creating more room to be thoughtful and deliberate. For sellers, strategy has never mattered more as buyers grow more discerning. For expert guidance tailored to your goals this spring, it helps to have a trusted Windermere advisor on your side.