October 2026 Real Estate Market Update: King & Snohomish Counties

If I had to describe our real estate market right now in one sentence, it would be: buyers have more choices, sellers have more competition, and negotiation is back.

September continued a trend we have been watching for much of 2026. Inventory is substantially higher than it was a year ago, homes are generally taking longer to sell, and buyers have more room to be selective. At the same time, this is not one market. Single-family homes continue to perform noticeably better than condos, and there are important differences between King and Snohomish counties.

Across the Northwest MLS service area, active inventory increased 24.5% from September 2025, while pending sales declined 15.1% and closed sales declined 8.9%. NWMLS reported more homes available this September than at any September since 2014.

Here is what is happening closer to home.

King County Single-Family Homes

King County's single-family market has clearly shifted toward a more balanced market.

At the end of September, there were 5,578 single-family homes for sale, up almost 36% from one year ago. At the same time, 1,362 homes closed during September, down 8.5% year over year, while pending sales declined 14.3%. That combination—more homes available and fewer buyers committing to purchases—is giving buyers considerably more leverage than they had a couple of years ago.

The interesting part is that prices have held up surprisingly well.

The median King County single-family home sold for $949,975, compared with $957,000 a year earlier—a decline of less than 1%. There were 4.1 months of inventory, which is a much healthier balance between buyers and sellers than we have seen during the tightest markets. Northwest Multiple Listing Service

King County Single Family – September 2026

	September 2026	Change from 2025
Active listings	5,578	+36.0%
Pending sales	1,663	-14.3%
Closed sales	1,362	-8.5%
Median sold price	$949,975	-0.7%
Months of inventory	4.1	—

For sellers, the message is straightforward: pricing and preparation matter again. Simply putting a home on the market and expecting multiple offers is no longer a good strategy. Buyers are comparing homes, looking closely at condition and sometimes moving on quickly when a property feels overpriced.

For buyers, this is a much more comfortable environment. Inspections, seller-paid repairs, closing-cost negotiations and price reductions are all things we are seeing again.

Snohomish County Single-Family Homes

Snohomish County remains a little tighter than King County, but inventory has increased even more dramatically.

There were 2,375 single-family homes for sale at the end of September, a whopping 45.4% increase from a year ago. Pending sales were down 16.8%, and closed sales declined 8.3%. Northwest Multiple Listing Service

Despite that increase in supply, prices were remarkably steady. The median Snohomish County single-family home sold for $750,000—the same median price as September 2025.

Months of inventory reached 3.7 months, compared with King County's 4.1 months. That tells us Snohomish County single-family homes are still somewhat more competitive overall.

Snohomish County Single Family – September 2026

	September 2026	Change from 2025
Active listings	2,375	+45.4%
Pending sales	698	-16.8%
Closed sales	642	-8.3%
Median sold price	$750,000	No change
Months of inventory	3.7	—

This is a good example of why headlines about a "slowing housing market" don't necessarily mean falling home values. Snohomish County buyers have dramatically more homes to choose from, yet the median single-family price hasn't changed from a year ago.

King County Condos

The condo market is a different story.

King County had 2,480 condos actively for sale at the end of September. That's up more than 21% from last year. More importantly, demand has fallen considerably: pending condo sales were down 25.2%, while closed sales dropped 24.1%.

The median condo price fell to $496,000, down about 6% from $527,500 last September.

And here's the number that really stands out: King County condos reached 7.05 months of inventory. That's clearly a buyer-favorable market by traditional measurements and considerably softer than the single-family market.

King County Condos – September 2026

	September 2026	Change from 2025
Active listings	2,480	+21.4%
Pending sales	409	-25.2%
Closed sales	352	-24.1%
Median sold price	$496,000	-6.0%
Months of inventory	7.05	—

For condo sellers, this isn't a market where I would recommend "testing" an aggressive price. With seven months of inventory, buyers simply have too many alternatives. Condition, HOA finances, monthly dues, assessments, parking, location and pricing are all playing bigger roles.

For condo buyers, however, this may be one of the more interesting opportunities we've seen in years. There is substantially less pressure to make a rushed decision, and buyers may have leverage that simply didn't exist during the hottest markets.

Snohomish County Condos

Snohomish County condos are also seeing more inventory, although the market isn't nearly as soft as King County.

There were 592 condos available at the end of September, up nearly 40% year over year. Pending sales fell 18.2% and closed sales declined 11.6%.

Interestingly, prices actually increased slightly. The median Snohomish County condo sold for $489,950, up 1.5% from $482,500 a year ago.

Inventory reached 4.59 months, putting Snohomish condos much closer to a balanced market than King County's 7.05 months.

Snohomish County Condos – September 2026

	September 2026	Change from 2025
Active listings	592	+39.6%
Pending sales	121	-18.2%
Closed sales	129	-11.6%
Median sold price	$489,950	+1.5%
Months of inventory	4.59	—

The Big Picture: Normal Is Back

I've been using the phrase "normal is back," and September's numbers reinforce that.

For several years, buyers became accustomed to waiving inspections, competing against multiple offers and sometimes paying substantially above the asking price. Sellers became accustomed to homes selling almost immediately.

We're now in a market where both sides have to participate again.

Buyers generally have more choices and more negotiating opportunities. Sellers can absolutely still get strong results, but they need to be realistic about pricing and make their homes stand out from increasing competition.

The biggest distinction continues to be single-family versus condos. King and Snohomish County single-family prices are essentially flat compared with last year despite huge increases in inventory. Condos—especially in King County—are facing a tougher environment.

That's also why broad headlines don't tell the whole story. A house in Kenmore, Bothell or Mill Creek can be operating in a very different market from a downtown Seattle condo, even though both may technically be in the same regional housing market.

What Should Buyers Do?

This is a good time to be patient without becoming complacent. Well-priced, attractive homes can still sell quickly, but buyers have more opportunities to perform inspections, negotiate repairs and compare one property with another.

If interest rates improve further, some of today's negotiating advantage could disappear as more buyers return to the market. The right question isn't necessarily, "Is this the bottom?" It's whether the home, payment and terms make sense for you.

What Should Sellers Do?

Don't price your home based on what your neighbor sold for two years ago—or even six months ago without looking closely at today's competition.

With inventory up 36% for King County single-family homes and 45% for Snohomish County single-family homes, buyers can afford to be choosier.

Good preparation, professional presentation and accurate pricing are increasingly separating the homes that sell from those that sit.

Want to Know What's Happening in Your Neighborhood?

Countywide statistics are helpful, but real estate is incredibly local. The market for a $700,000 home in Lynnwood can be very different from a $1.5 million home in Kirkland—or a $500,000 condo in Seattle.

If you'd like to know what homes like yours are actually selling for, how much competition you would have, or what today's market looks like in your neighborhood, reply to me or contact me. I'm happy to put together the numbers for your specific area.