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Forrest Smith
Windermere SUMMIT
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Market Report · June 2026
Seattle’s Housing Market Is Shifting.
June 2026 Market Report · Forrest Smith, Windermere Real Estate
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Every month, I disappear into roughly 60 pages of Northwest MLS data looking for one thing: what’s actually changing in the Seattle housing market, so I can tell you what to look for, how to prepare, and what your strategy should be, whether you’re buying or selling.
Housing markets change at the margins first, at the microeconomic level, block by block. You’ll see expanding or contracting inventory, more selective buyers, leverage shifting on either side of the deal, and more negotiation levers available to both buyers and sellers.
A national headline probably doesn’t apply to your specific market, which is why I dive into the monthly data to provide you with the main takeaways from the market.
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If I had to summarize June in one sentence
Buyers finally have room to think about their options.
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We saw three important variables move in buyers’ favor at the same time in June:
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| 1 Inventory expanded. |
| Months of Inventory · Every June, 2017–2026 |
| 2017 |
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| 2018 |
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| 2019 |
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| 2020 |
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| 2021 |
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| 2022 |
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| 2023 |
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| 2024 |
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| 2025 |
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| 2026 |
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| 2,583 active listings and 3.1 months of inventory. The deepest June selection in nearly a decade. |
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| 2 Mortgage rates eased. |
| 30-Year Fixed Average · June vs. June |
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| Down 0.33% year over year, per Freddie Mac PMMS. A modest move on paper that compounds meaningfully over a 30-year loan. |
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| 3 Prices softened slightly. |
| Median Closed Price · Every June, 2017–2026 |
| 2017 |
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| 2018 |
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| 2019 |
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| 2020 |
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| 2021 |
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| 2022 |
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| 2023 |
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| 2024 |
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| 2025 |
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| 2026 |
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| Seattle median closed price, homes and condos. Down 4% from last June’s peak, still 31% above June 2017. |
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Individually, none of those changes would be particularly remarkable. Together, these data points begin changing market behavior.
Seattle finished June with 2,583 active listings and 3.1 months of inventory, the deepest June selection we’ve seen in nearly a decade. In our market, more than 4 months of inventory is a “balanced” market; more than 6 is a buyer’s market. So sellers can still expect to see historic resale results.
If you remember shopping in 2021, you’ll remember what 0.8 months of inventory felt like. Buyers waived inspections. Escalated hundreds of thousands over asking. Made decisions in hours because they had no other choice.
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Markets rarely change course all at once. They usually lose leverage one negotiation at a time.
That’s what we’re watching happen now.
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The Cost of Money Matters More Than Most People Think
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The city of Seattle median price dropped 4% to $895,000 in June 2026. Paired with mortgage rates averaging 6.49%, down from 6.82% last June, it becomes something much more important.
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| Monthly Payment on Seattle’s Median Home · P&I |
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$6,108
June 2025
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$5,651
June 2026
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−$457
Per month · −$5,482/yr
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| Lower price + lower rate = the same home, meaningfully cheaper to own. |
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The payment on Seattle’s median-priced home fell by roughly $457 per month, or about $5,500 per year. June quietly became meaningfully more affordable than June 2025, even if it doesn’t feel that way at first glance.
Experts are predicting an increase in rates through the end of the year, however, so the window for rate-based savings may be short lived.
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The Seattle Market Is Splitting into Two Segments
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One segment of the market rewarded preparation, strategic pricing, and strong positioning. How do we know this?
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| The Prepared Segment |
| 58% |
of homes went pending in under fifteen days and closed at essentially full asking price. |
| 6 days |
average market time for homes that sold above list, which earned a five percent premium. |
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The other market segment was considerably less forgiving to sellers.
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| The Waiting Segment |
| 31% |
of June’s sales required at least one price reduction before finding a buyer. Those homes averaged seventy-seven days on market. |
| 91¢ |
on every original asking dollar is what sellers walked away with once listings drifted beyond ninety days. |
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That’s a meaningful difference for both sellers and buyers. When I’m hosting open houses in homes that have been on the market for a considerable amount of time, the first question a buyer asks me is:
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“Is anything wrong with the house?”
And my response?
“The price. Let’s negotiate.”
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| One Last Stat to Note in Seattle |
| 55% Only 55% of listings taken actually became closed sales in June. Rising inventory contributes to softer pricing. Keep an eye on that stat month over month to inform your own purchase strategy. |
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If you have questions about your real estate strategy, want to know how your specific neighborhood performed in June, or need a pricing plan built around the fast half of this market, reach out today.
Forrest
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Market data: Windermere/East, derived from Northwest Multiple Listing Service (June 2026, Seattle all areas, residential and condominium). Rates: Freddie Mac PMMS, average of all weeks reported in calendar month; rate outlook reflects third-party forecasts and is subject to change. Not financial or lending advice; consult your lender for specifics.
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