Is the Seattle Housing Market Changing? Here’s What the August 2026 Data Shows

https://youtu.be/fvy8HwS9LFA

Hi, I'm Doron Weisbarth with Weisbarth & Associates, and welcome to my August 2026 Market Update!

You know, for the past several years, most people buying or selling a home in the Greater Seattle area have really known only one kind of market – a seller’s market. Inventory was extremely low, buyers routinely found themselves competing against multiple offers, and sellers became accustomed to the idea that a well-maintained home would sell almost immediately.

And, technically speaking, we're still in that kind of market today.

But if you've been paying attention lately, you've probably noticed that something feels a little different.

Let me show you what the data reveals.

At first glance, this graph may look a little busy, but the story it's telling is actually pretty simple.

The dark blue line shows median prices. The orange line shows pending sales, which is a pretty good measure of buyer activity. The green line shows new listings coming onto the market. And the light blue line shows the number of homes available for sale.

And while all four lines are interesting, I want you to focus mainly on the relationship between the orange line and the green line, and how they result in the light blue line.

Let's start with the orange line.

Despite changing interest rates, inflation, stock market volatility, political uncertainty, and enough alarming headlines to keep cable news in business for another hundred years, buyers have continued buying homes, and pretty much at the same pace over the last four years. You can see the dotted line, representing the trend line for this data that looks pretty flat. Meaning, that that pattern of the market – namely, the demand – has not really changed in these past year

Now let's look at the green line.

If you look at the supply pattern in past years, you can clearly see how the number of new listings would peak during the spring and then gradually begin declining as summer progressed. I marked those peaks with the red arrow. This year, though, that spring surge never really ended. Or at least, it hasn’t yet. You can see that all the way on the right where the line is almost flat. Meaning that new listings have remained elevated for several months now, giving buyers more choices and opportunities.

And that's what brings us to the light blue line.

When more homes come onto the market while buyers continue purchasing them at a fairly steady pace, inventory will naturally rise. And that's exactly what we've been seeing.

Think of it this way. Imagine turning on the faucet in your bathtub while keeping the drain open so that the water can drain out. If the faucet is turned on to a drizzle, so that the water drains faster than it’s being filled, then the tub will not fill. However, if you crank up the faucet so that the water is gushing in, and the drain, which is draining at a steady pace, is not able to keep up, then your bathtub will fill up.

And this is also where that dark blue median-price line becomes interesting. Prices are a little lower than they were at this time last year, but overall they've remained relatively steady. To me, that's another indication that buyers are still very much in the market. What's changed isn't so much the demand as the amount of supply that demand now has to absorb.

So what I’m seeing is that the market's velocity has changed.

I think that's why so many people have the feeling that the market itself is changing. And that’s possible, but this is a bit of an unusual change. We’re not seeing buyers departing the market. What we’re seeing are a plethora of sellers who’ve entered the market.

By the way, if you'd like to spend a little more time looking at this graph and reading the full analysis, you'll find everything in my August newsletter, available online and for download, for free, at Weisbarth.com/newsletter. That’s Weisbarth.com/newsletter.

And here’s an interesting fact for you.

Median days on market in King County increased only slightly, from ten days last year to eleven days this year, while Seattle itself remained unchanged at just nine days.

Many homes are still selling quickly enough, and some continue to attract multiple offers.

To me, this is further evidence that we are not witnessing the disappearance of demand. Instead, we're watching supply gradually catch up with it.

And that's an important distinction.

A true buyer's market often develops when demand weakens substantially. That's not what's happening here. The difference is that sellers now have more competition from other sellers. That’s pretty much it.

Of course, these are only broad patterns, and every home has its own story. Some homes will still receive multiple offers within days. Others may take several weeks to sell. Preparation, presentation, pricing, location, and timing still matter enormously.

That's why understanding the overall market is important, but understanding the market for your particular home is even more valuable.

So if you're considering buying or selling this year, or if someone you know could use some guidance, my team and I would be happy to help. We’ve developed systems for buyers and for sellers with proven results. 

You can reach out through this website, email me, text me, or, my favorite, pick up the phone and give me a call directly at 206-779-9808. That’s 206-779-9808. I love talking with old friends and new ones, truly!

And remember, when you work with our team, you're also helping support Akin, an amazing nonprofit that helps children and families thrive throughout our community.

Thanks for watching. Don't forget to like, subscribe, and follow for more updates, and be sure to check out the full August newsletter at Weisbarth.com/newsletter.

I'm Doron Weisbarth with Weisbarth & Associates. Enjoy the rest of your summer, and I'll see you next month.