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Seattle Metro

Seattle Metro Market Report

Top 10 ZIPs by size — 7.32% mortgage rate — Updated 10/27/2026

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Listings Flow Ladder — Seattle

Faucet, basin and drain — new listings in, active inventory, closed sales out.as of Sep 30, 2026

the basin is fillingnet 1,187 listings/mo
balanced 4–6 mo3.6 mo
Faucet — new listings
3,899/mo
75% of normal (5,207) · trickle
Basin — active listings
9,754
134% of normal (7,294) · low
Months of supply
3.6 mo
derived — not published at this grain
Drain — closed sales
2,713/mo
58% of normal (4,666)
Net — faucet minus drain
+1,187/mo
filling
Reading
current
as of 2026-09-30
Compare against:
2015-01-01 to 2019-12-31 · 5 same-month points

How plugged is the drain? Two definitions, both ours, deliberately not reconciled.

  • 57%Absorption vs its own normal— 1 - (closed sales / active listings) / same-month median of that ratio
  • 42%Closed sales vs its own normal— 1 - closed sales per month / same-month median closed sales per month

Closed sales over 24 months — two different numbers, deliberately not merged.

  • 519/mofall in the monthly rate (16%)— peak 3,231/mo (2025-07-31) to 2,713/mo now
  • 30,818transactions that did not happen— summed monthly shortfall vs the same-month normal, over 24 months below it (vs 2015-19 (COVID excluded))
  • rate_drop_from_peak is a change in the monthly rate; cumulative_shortfall_vs_normal counts transactions not transacted. They are different quantities and are not interchangeable.
2026-09-30

Redfin market data (county + ZIP), via Lotvox. As of 2026-09-30. Normal = same-month median of monthly rates, minimum 3 same-month points. Source window 3 months (flows shown per month). Aggregated over a fixed panel of 96 zips — the panel is fixed so a change in who reports cannot look like a change in the market. months_of_supply is not published at this grain (0 non-null rows measured); derived here as active listings / closed sales per month.

Verified county coverage:King County, WA

Tracked ZIPs
10
Avg Score
36
Avg Median
$748,000
Market
Seller's
Avg Composite
36/100
Avg Median Price
$748,000
Avg Rent
$2,362/mo
Avg Burden
42.4%of income

New Listings Trend

Monthly new for-sale listings · Redfin + Realtor.com · Seattle, WA

as of Sep 1, 2026
↑ 59.1% YoY
Long-run avgAug 24Nov 24Feb 25May 25Aug 25Nov 25Feb 26May 26Aug 2605k10k15k20k

Buyer Leverage — Should I Buy in Seattle?

62
Avg Buyer Score
105 ZIPs analyzed
Strong Buyer
2
Moderate
66
Balanced
35
Seller Favored
2
Strong Seller
0
Best for Buyers
98288Skykomish91
98051Ravensdale86
98077Woodinville78
98014Carnation78
Most Competitive
98121Seattle34
98001Auburn42
98101Seattle45
98055Renton45

MODERATE — Seattle has mixed conditions, pockets of opportunity

98303
, Pierce
43
Median Price
$475,307
YoY
-1.3%
Payment Burden
43.5%
Buy vs Rent
Rent
Days on Market
67
Supply
6.2 mo
Rent
$1,806
Val. Gap
+11.9%
98012
Bothell, Snohomish
26
Median Price
$928,453
YoY
-5.2%
Payment Burden
43.2%
Buy vs Rent
Rent
Days on Market
26
Supply
3.8 mo
Rent
$2,609
Val. Gap
-11.9%
98258
Lake Stevens, Snohomish
35
Median Price
$691,902
YoY
-1.4%
Payment Burden
37.8%
Buy vs Rent
Neutral
Days on Market
20
Supply
3.1 mo
Rent
$2,982
Val. Gap
-16.3%
98270
Marysville, Snohomish
37
Median Price
$629,265
YoY
-0.3%
Payment Burden
40.6%
Buy vs Rent
Neutral
Days on Market
19
Supply
3.9 mo
Rent
$2,731
Val. Gap
-17.9%
98223
Arlington, Snohomish
43
Median Price
$644,924
YoY
+0.5%
Payment Burden
44.1%
Buy vs Rent
Rent
Days on Market
28
Supply
3.3 mo
Rent
$2,104
Val. Gap
-20%
98208
Everett, Snohomish
35
Median Price
$728,590
YoY
-2.5%
Payment Burden
46.9%
Buy vs Rent
Rent
Days on Market
16
Supply
2.4 mo
Rent
$2,000
Val. Gap
-14.5%
98115
Seattle, King
33
Median Price
$1,007,739
YoY
-0.5%
Payment Burden
44.8%
Buy vs Rent
Rent
Days on Market
9
Supply
3.5 mo
Rent
$2,255
Val. Gap
+134.2%
98042
Covington, King
39
Median Price
$678,857
YoY
-1.5%
Payment Burden
35.7%
Buy vs Rent
Rent
Days on Market
30
Supply
2.2 mo
Rent
$2,532
Val. Gap
+158.3%
98290
Snohomish, Snohomish
40
Median Price
$819,123
YoY
-0.3%
Payment Burden
41.7%
Buy vs Rent
Rent
Days on Market
25
Supply
3 mo
Rent
$2,305
Val. Gap
-18%
98103
Seattle, King
25
Median Price
$875,835
YoY
-1.3%
Payment Burden
45.3%
Buy vs Rent
Rent
Days on Market
14
Supply
3.5 mo
Rent
$2,291
Val. Gap
+132.6%

Median price and 12-month change: Zillow Home Value Index (ZHVI); where a ZIP has no ZHVI value, the county assessor average. Days on market: Redfin Data Center, rolling 90 days; months of supply: Redfin Data Center. Rent: Zillow Observed Rent Index (ZORI); where a ZIP has no ZORI value, the Census ACS county rent.

Every ZIP market page in Seattle Metro (82)