Q1 2026 Seattle Real Estate Market Update: King County Trends, March Data & Luxury Insights

Seattle Real Estate Market Update: Q1 2026

If you’ve been wondering whether the Seattle housing market is heating up or cooling down in 2026, the answer is a bit of both.

The first quarter of the year brought a significant increase in inventory, while buyer activity softened slightly, creating a more balanced (and strategic) market for both buyers and sellers.

In this update, we’ll break down what happened in Q1 2026 across King County and Snohomish County, what we saw specifically in March, and what’s happening in the luxury market, plus what it all means if you’re planning to make a move this year.

Watch the Full Q1 Market Update

If you prefer a quick video breakdown with real examples and on-the-ground insights, you can watch our full update here:

King County Housing Market Trends (Q1 2026)

The biggest story in Q1? Inventory surged.

• New Listings:
  +80.4% vs Q4 2025
  +16.5% year-over-year

This is a massive jump from the end of last year and signals a strong start to the spring market.

At the same time:

• Homes Sold:
  -19.0% vs Q4
  -7.3% year-over-year

• Average Days on Market:
  +5.1% vs Q4
  +20.6% year-over-year

• Average Sales Price:
  -2.6% vs Q4
  -1.5% year-over-year

What This Means

We’re seeing a clear shift:

• Buyers have more options than they did in 2025

• Homes are taking slightly longer to sell

• Pricing remains relatively stable, not declining dramatically

This isn’t a downturn…it’s a rebalancing.

Snohomish County Market Trends

Snohomish County is following a very similar pattern:

• New Listings:
  +62.4% vs Q4
  +13.1% year-over-year

• Homes Sold:
  -16.5% vs Q4
  -7.2% year-over-year

• Days on Market:
  +10.5% vs Q4
  +23.5% year-over-year

• Average Sales Price:
  -1.4% vs Q4
  -2.9% year-over-year

Key Takeaway

Inventory is rising across the region, while buyer demand is steady, just more selective.

March 2026: A Closer Look at Spring Activity

March is always one of the most important months in the Seattle real estate cycle—and this year, it didn’t disappoint.

We saw:

• A noticeable increase in new listings hitting the market

• Stronger showing activity compared to earlier in the quarter

• Continued buyer caution, especially with pricing

In other words, buyers are active and they’re being more intentional.

What We’re Seeing on the Ground (Seattle, Kirkland & Beyond)

Data tells part of the story but what’s happening in real life matters just as much.

Here’s what we’re seeing across the Greater Seattle area:

1. Well-Priced Homes Are Still Moving Quickly

Homes that are positioned correctly are still:

• Generating strong interest

• Receiving multiple offers in some cases

• Selling relatively quickly

2. Overpriced Homes Are Sitting

Buyers today are:

• More informed

• More patient

• Less willing to stretch

If a home misses the mark on pricing, it’s much more likely to sit and require a price adjustment.

3. Showing Activity Is Up—but Not Frenzied

Compared to the peak frenzy of past years:

• Traffic is solid

• But buyers are taking their time before making offers

Luxury Market Update (2026)

The luxury market (typically $2M+) is telling a slightly different story.

What we’re seeing:

• Continued demand for turnkey, well-designed homes

• More discretion and selectivity from buyers

• Longer timelines for homes that aren’t positioned well

In many cases, the luxury market is behaving like a “micro-market” within the broader market.

Key Insight

Presentation and pricing matter even more at the high end—buyers have options, and expectations are high.

Are Homes Still Selling Over Asking?

Yes (but it depends).

We’re seeing a more nuanced pattern:

• Homes priced strategically → Still selling at or above asking

• Homes priced aggressively → Sitting longer, often with reductions

This is a big shift from the blanket “everything sells over asking” environment.

What This Means for Buyers and Sellers

For Buyers:

• You have more inventory and more leverage

• There’s less pressure to rush, but great homes still move fast

• Opportunity to negotiate is improving

For Sellers:

• Pricing is everything in this market

• Preparation and presentation matter more than ever

• The right strategy can still lead to strong results

Final Thoughts: A More Balanced Market in 2026

Q1 2026 is shaping up to be a transition period:

• More homes are hitting the market

• Buyers are active but more selective

• The market is shifting toward balance and strategy

For both buyers and sellers, this creates opportunity, with the right approach.

Thinking About Buying or Selling?

If you’re considering making a move in Seattle, Kirkland, or the surrounding areas, our team would love to help you navigate the market with a strategy tailored to your goals.

Reach out anytime for personalized guidance—we’re happy to be a resource.

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Meet Veronica

As a Washington native, Kirkland expert, and award-winning agent, Veronica Morss brings unmatched local insight and a client-first mindset to every real estate transaction. With a proven track record in multimillion-dollar negotiations, she blends deep neighborhood knowledge with the latest marketing strategies to help buyers, sellers, and investors succeed across the competitive Greater Seattle market. Supported by eXp Realty’s global reach, Veronica combines hyper-local expertise with world-class resources to deliver exceptional results, especially within the luxury segment. Her commitment to creative solutions, cutting edge strategy, and white glove service makes her a trusted advisor throughout every stage of the real estate journey.

Veronica Morss, Real Estate Broker

206-853-3491

veronica@veronicamorss.com

veronicamorss.com

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