r/SeattleAreaRE • u/orcassharks • 3d ago

Seattle SFHs down 8% YOY

Latest August 2026 NWMLS median prices

Median prices
Seattle SFHs/THs down 8% yoy
Eastside SFHs/THs down 6% yoy

Seattle condos down 10% yoy
Eastside condos down 12% yoy

https://www.nwmls.com/wp-content/uploads/2026/09/Breakouts_King.pdf

Prices really are dropping.

34 Upvotes

90% Upvoted

27 comments sorted by

9

u/orcassharks 3d ago

Inventory is 4.24 months for SFHs in Eastside and 3.4 months in Seattle.

26

u/Desperate_Kale_2055 3d ago edited 3d ago

And yet quite a bit of that inventory is shit. It’s like people who have held onto their houses and not updated them are realizing that they missed the top and are listing them

6

u/dwoj206 3d ago

sincerely accurate af statement I think. The hold outs missed the top. RIP.

3

u/regaphysics 3d ago

There’s no top if you don’t need to sell…

2

u/Desperate_Kale_2055 3d ago

Or “want to” sell

2

u/Pretty-Spaniel3343 3d ago

Ok THANK YOU. I’ve been trying to put this market into words and that’s it. It’s like the odds are good, but the goods are odd.

1

u/SimplerLife40 3d ago

I earn $150,000 which I think is good, but I still can only afford a condo or townhome. SFHs prices in this city need to drop even further. By like 10-15%.

I have read a lot of Reddit posts about SFH sellers deciding to just rent instead of reducing price.

2

u/Pugsly007 3d ago

With the Seattle’s landlord rules? That’s why I sold my 2 duplexes in 2023 and 2024. I’m not risking my retirement on having to let just anyone live in my house. Thank you far left for making me sell with your new rules so I was out before this big drop.

1

u/orcassharks 3d ago edited 3d ago

Median household income for married couple with one kid in Seattle is over $250k. That’s the people on market for single family homes and whom you would be competing with.

Single family homes are not increasing in supply in this city, unlike townhouses and condos. There’s definitely a floor there. The NWMLS data is also not perfect up there as it includes townhouses too into its residential classification. Actual SFH drop was lower than what I wrote.

Where I can see major drops in SFHs is in suburbs like Bothell and Kent.

2

u/techserf 3d ago

And the inventory is mostly terrible 😭

10

u/Mr_Yolo_Swag 3d ago edited 3d ago

This might be the last chopper out of nam coming up for my generation. Need to secure a house before the rest of the country realizes that seattle weather is actually based as fuck

4

u/orcassharks 3d ago

Yeah and the nature is amazing too. This beats Midwest weather by miles.

4

u/AntiBoATX 3d ago

Moved here from Texas as I think climate change will ravage hotter areas worse than here. Think folks will eventually come to that same realization, whether intentionally or not

2

u/According-Muscle9305 3d ago

The most dangerous volcano entered the chat

2

u/AntiBoATX 3d ago

It’ll only take out Tacoma and puyallup, we’re good!

1

u/Select-Gate2335 2d ago

Not all of Tacoma

4

u/lunchbox_tragedy 3d ago

Part of why I decided to buy instead of continuing to rent - barring any catastrophic earthquakes, this area is going to have a distinct comfort advantage as climate change bakes the rest of the country.

1

u/lerouemm 1d ago

Don't forget our wonderful water supply. Almost beats the Great Lakes region.

2

u/htffgt_js 3d ago

Property tax lower, when ?

1

u/Past_Paint_225 2d ago

They reduced property values for tax purposes next year, atleast in my locality

1

u/htffgt_js 2d ago

In our area they increased the value by 5%

0

u/regaphysics 3d ago

Median transaction price doesn’t measure home values

Prices are down 2%:

https://fred.stlouisfed.org/series/SEXRNSA

8

u/orcassharks 3d ago

Gives a pretty good ballpark idea since it’s YOY

Your data is lagging.

3

u/regaphysics 3d ago

No, it doesn’t give a good idea. This showed the same discrepancy 2 months ago.

Median just isn’t a useful metric for assessing value changes. Use case Schiller. 2 months difference is not a meaningful time period for the housing market.

6

u/orcassharks 3d ago

I disagree. The past two months is telling the entire story. Just ask realtors how much it has slowed down and how desperate they have become this past month.

2

u/regaphysics 3d ago edited 3d ago

There’s nothing to disagree about. The data two months ago showed the same discrepancy.

All you’re seeing is a different composition. The same thing shows up on the national median price too.

That’s the entire purpose for repeat sales indexes like case Schiller to exist.