Kelly Azzarello 11/12/26 Kelly Azzarello 11/12/26

How Are Home Values Doing in Our Area, and Why?

Prices are lower than a year ago, inventory is higher and fewer homes are selling. Here is the data, with dates, and what it means if you are thinking about selling.

As of November 9, 2026: this post uses NWMLS data compiled by InfoSparks (ShowingTime) for median prices, NWMLS monthly reports for August and October 2026, Freddie Mac mortgage rates through November 5, 2026 and NAR data for the third quarter of 2026. Market numbers change often, so contact us for current figures.

This is a very time-sensitive post. While many of the topics here are not specific to the current market, the details are very time-centric and need to be re-analyzed regularly. We highly encourage you to contact us for current market information.

The short answer

Prices in King County are lower than a year ago (down 3.7 percent for houses and 15.9 percent for condos in October), inventory is higher, and fewer homes are selling. National prices have been slightly higher. Here is the data, with dates.

King County

MeasureAugust 2026October 2026

Median sales priceHouses $925,000 (down 5.1% from August 2025)
Condos $509,000 (down 7.5%)Houses $938,863 (down 3.7% from October 2025)
Condos $470,700 (down 15.9%)
Active listings7,703 (up 30.0% from a year earlier)7,592 (up 32.8%)
Closed sales1,791 (down 13.6%)1,756 (down 18.1%)
Pending sales2,101 (down 8.4%)1,831 (down 17.8%)
Months of inventory4.304.32

Measure	August 2026	October 2026
Median sales price	Houses $925,000 (down 5.1% from August 2025) Condos $509,000 (down 7.5%)	Houses $938,863 (down 3.7% from October 2025) Condos $470,700 (down 15.9%)
Active listings	7,703 (up 30.0% from a year earlier)	7,592 (up 32.8%)
Closed sales	1,791 (down 13.6%)	1,756 (down 18.1%)
Pending sales	2,101 (down 8.4%)	1,831 (down 17.8%)
Months of inventory	4.30	4.32

The ten-year view

Using Northwest Multiple Listing Service data compiled by InfoSparks (ShowingTime), the King County median sale price for houses peaked at $1,033,950 in June 2025 and was $938,863 in October 2026. For condominiums, the peak was $625,000 in February 2025 and the October 2026 median was $470,700. The lows in this ten-year period were $495,000 for houses and $281,250 for condominiums, both in January 2016.

The Eastside

In the October 2026 NWMLS report, the Eastside median price for single-family homes was $1.35 million, down 12.9 percent from a year earlier (June 2026: almost $1.6 million, down 3.1 percent).
In October, the most expensive Eastside submarket, Bellevue west of Interstate 405, had a median of a little more than $3.4 million, up 5.4 percent on only 16 sales (in June it was almost $3.7 million, down 19.8 percent). Small, high-priced markets swing a lot from month to month. Median prices in this area are normally skewed high because of the number of very expensive properties.
King County's median for houses was $938,863 in October 2026, down 3.7 percent from $975,000 in October 2025, and $925,000 in August 2026, down 5.1 percent from $975,000 in August 2025 (NWMLS data compiled by InfoSparks). King County condos had a median of $470,700 in October 2026, down 15.9 percent from $560,000, and $509,000 in August 2026, down 7.5 percent from $550,000 (InfoSparks). The NWMLS October recap showed about 7.0 months of inventory for condos.

How this compares with the country

NAR reported that the national median existing single-family price was $432,900 in the third quarter of 2026, up 1.7 percent from a year earlier. Our area is running below that trend.

Why it is happening

Affordability. The Washington Center for Real Estate Research said in the NWMLS October report that interest rates rose even further, with 30-year mortgage rates averaging 7.33 percent in October versus 6.86 percent in September. Rates were 5.98 percent at the end of February 2026, the lowest since September 2022, but they have since risen. Freddie Mac's weekly 30-year fixed average was 7.18 percent on November 5, 2026, its third straight weekly decline from 7.40 percent on October 8 and October 15. That is still up from 6.95 percent on September 17, 6.65 percent on August 20 and 6.22 percent a year earlier.
More supply. King County had 7,592 active listings at the end of October, up 32.8 percent from a year earlier, which gives buyers more choices and more time to decide.
Slower sales. In October, King County closed sales were down 18.1 percent and pending sales were down 17.8 percent from a year earlier, which points to cooler demand.

What it means for you

Averages hide a lot. A well-prepared, well-priced home in a strong location can still do well, while a home that is overpriced or in need of work sits. If you are thinking about selling, the useful number is not the county median. It is what comparable homes near you have sold for recently.

City-level numbers

We will cover city specific data in a later post. Stay tuned!

From Our Own Experience

Over the last few years, prices in our market have pulled back. This is somewhat expected, because prices rose so quickly in the early 2020s in response to demand during COVID.

Homes that are priced well continue to sell well. Homes priced on the values of previous years (aspirational pricing) tend to sit longer and often need multiple price reductions before they move.

Buyers have also changed how they behave. They are negotiating harder, which we have not seen in several years, since the market here moved up quickly in the late 2010s. Recent requests include:

Price adjustments or money back at closing based on inspection results
Offers far below the listing price
Seller money applied to interest rate buydowns or closing costs

Many of these requests, especially the inspection requests, are considered “unreasonable” by the other party. Even so, fewer sellers have walked away from deals because of them.

Thinking about selling in the Seattle Area?

Kelly Azzarello Real Estate | Compass
Email: kelly@kellyazzarello.com
Phone: (425) 830-6457
Web: www.kellyazzarello.com
Instagram: instagram.com/kellyazzarello
YouTube: youtube.com/kellyazzarellorealestate

This post is general information about real estate topics. It is not legal, tax or financial advice, and it does not replace a professional inspection. Rules and practices differ by situation and change over time. Check current requirements and talk with a licensed professional, such as an inspector, contractor, attorney or CPA, about your own property.

  
    
Sources
InfoSparks (ShowingTime), Northwest Multiple Listing Service King County monthly median sales price, Residential and Condominium, data as of November 9, 2026
NWMLS Recaps, October 2026: nwmls.com/wp-content/uploads/2026/11/Recaps-October2026.pdf
NWMLS Recaps, August 2026: nwmls.com/wp-content/uploads/2026/09/Recaps-August2026.pdf
NWMLS Market Snapshot, October 2026 (published November 5, 2026): nwmls.com/market-snapshot-october-2026/
MyNorthwest coverage of the June 2026 NWMLS report (June Eastside figures): mynorthwest.com/lifestyle/425/real-estate-report-inventory-expanding-sales-prices-lower/4254808
425 Business, NWMLS October 2026 report (Eastside figures, mortgage rate comments): 425business.com/news/northwest-multiple-listing-service-october-2026-report/article_61c26012-cee7-4bba-bdd1-df6ce5f0790d.html
NAR, Home Prices Rise in 78% of Metro Areas in Q3 2026 (October 29, 2026): nar.realtor/newsroom/home-prices-rise-78-percent-metro-areas-q3-2026
Freddie Mac Primary Mortgage Market Survey, rates through November 5, 2026: freddiemac.com/pmms


  
  

Kelly Azzarello 11/10/26 Kelly Azzarello 11/10/26

How Much of Your Wealth Is in Your Home?

For many homeowners, the home is the biggest piece of their wealth. Here are the national numbers, how Eastside home values compare with incomes, and what that means for your plans.

The national picture

For households that own a home, housing is typically the largest share of their assets. One analysis of the Federal Reserve's 2019 Survey of Consumer Finances found that homeowners held a typical 61 percent of total assets in housing (Economic Policy Institute).
The share falls as wealth rises. A Redfin analysis published in March 2025 found real estate made up about 46 percent of net worth for the bottom half of U.S. households and about 12 percent for the top 1 percent.
Housing wealth grew during the pandemic years. The Federal Reserve's 2022 survey reported that for families who own their primary residence, housing wealth rose substantially between 2019 and 2022 as house prices far outpaced inflation.

Why there is no single local number

The Federal Reserve survey does not publish a figure for the Seattle area. What we can do is compare what homes cost with what households earn, nationally and in the cities we serve.

Prices and incomes: national and local

Area	Median household income	Median home value	Home value ÷ income
United States	$80,734	$332,700	4.1
Snoqualmie	$214,107	$977,200	4.6
Maple Valley	$152,885	$724,700	4.7
Sammamish	$239,690	$1,407,300	5.9
North Bend	$175,109	$1,048,600	6.0
Issaquah	$154,669	$963,000	6.2
Renton	$100,432	$672,600	6.7
Redmond	$162,560	$1,167,800	7.2
Bellevue	$165,576	$1,340,300	8.1

Source: U.S. Census Bureau QuickFacts, American Community Survey 5-year estimates, 2020-2024. Home value is the owner-reported median value of owner-occupied housing units, not a sale price. Ratio is median home value divided by median household income.

For scale: dividing median home value by median household income gives about 4.1 for the United States. Using the same Census measure, the ratio is about 4.6 in Snoqualmie, 4.7 in Maple Valley, 5.9 in Sammamish, 6.0 in North Bend, 6.2 in Issaquah, 6.7 in Renton, 7.2 in Redmond and 8.1 in Bellevue. Home value is the owner-reported estimate, not a sale price, so treat these as rough comparisons.

Equity gains in our market

Using Northwest MLS data for King County (via InfoSparks), the average of the monthly median sales prices for residential homes rose from about $671,000 in 2019 to about $895,000 in 2022, a gain of roughly 34 percent. For condominiums, it rose from about $405,000 to about $498,000, roughly 23 percent. Measured from the end of 2019 to the 2022 peak, the gain was larger: residential homes went from $675,000 in December 2019 to $1,000,000 in May 2022 (about 48 percent), and condominiums from $405,000 to $549,950 in March 2022 (about 36 percent). Prices have since come down from those peaks.
Prices have softened recently. See our post on how local home values are doing.

Why this matters

When a large share of your wealth is in one asset, in one place, the value of that asset matters a great deal to your plans. Many homeowners find that a home with a lot of equity gives them choices, such as selling, downsizing or borrowing, and also concentrates risk. Reviewing how much of your wealth is tied up in your home is a reasonable part of retirement and estate planning.

Sources

Economic Policy Institute, from the Federal Reserve Survey of Consumer Finances 2019: epi.org/chart/kyle-and-adewale-figure-a-americans-homeowners-hold-most-of-their-assets-in-their-primary-residence-this-is-especially-true-for-black-and-brown-households
Redfin, March 2025: businesswire.com/news/home/20250311763660/en/Americas-Wealthiest-1-Could-Buy-99-of-Americas-Homes
Federal Reserve Survey of Consumer Finances 2022, as reported by Anadolu Agency: aa.com.tr/en/americas/americans-net-worth-soar-record-37-during-2019-2022-fed/3026392
Census Bureau QuickFacts, American Community Survey 5-year estimates, 2020-2024: census.gov/quickfacts
Northwest MLS via InfoSparks, King County median sales price, 2019 to 2022 (annual averages of monthly medians)

From Our Own Experience

We are noticing a trend that many people in our area are looking at homes where they can eventually settle in retirement while keeping their Seattle-area residences. Unlike many metropolitan areas, Seattle has been blessed with success over the last 30+ years largely due to the tech industry. As people decide to leave (or are laid off) the area, they are looking to cash in on their equity and redeploy it.