Tony Meier & Team's Weekly Market Update
4 Min. Read
Audio Version
[audio mp3="https://eastsidehomes.com/wp-content/uploads/Eastside-Real-Estate-Market-Update-6-3-26.mp3"][/audio]
If we can help you think through what this means for your move, we are here. Tony Meier & Team — Windermere Real Estate / NE, Kirkland, WA
🏡 June Opens With Demand 8% Below Last Year — and Inventory at a New 2026 High | Seattle's Eastside Real Estate Update 06-03-26
Tony Meier | Windermere Real Estate | 37 Years Experience | 793 Closed Eastside Sales Two important shifts arrived together this week. The Memorial Day distortion has cleared from the data — pending sales recovered to 138 from last week's holiday-suppressed 113. And June has now opened with its first full week of data, providing the first clean read of post-peak buyer activity. What the cleaner data reveals is consistent with the picture we have been building: inventory continues to climb, demand sits meaningfully below last year, and the structural conditions defining 2026 remain in place.📌 WHAT'S COVERED THIS WEEK
💰 INTEREST RATES — 6.61% | → Flat from last week | ↓ Down 0.35% year over year
Rates held essentially flat at 6.61% this week — unchanged from last week and still 0.62 points above the pre-conflict baseline of 5.99%. Year over year, rates remain down 0.35%. The post-conflict high of 6.67% reached two weeks ago has retreated modestly, but rates remain elevated relative to the late February baseline. On a $1.5M home, this week's rate still represents roughly $620 more per month in carrying costs than buyers faced before the conflict began.🏡 ACTIVE LISTINGS — 1,692 | ↑ Up 1.9% from last week | ↑ Up 30.5% year over year
Active listings reached 1,692 this week — another 2026 high and up 30.5% from the 1,297 homes on the market during the comparable week in 2025. The inventory build continues at a steady weekly pace as we approach the historical July peak.📝 PENDING SALES — 138 | ↑ Up 22.1% from last week | ↓ Down 8.0% year over year
Pending sales came in at 138 this week — up 22.1% from last week's Memorial Day-suppressed 113, and the first clean June reading of buyer activity. Year over year, pending is down 8.0% from the 150 recorded during the comparable week in 2025. This is the cleaner signal: with the holiday distortion behind us, June demand is opening 8% below year-ago levels — meaningful weakness given that 2025 was itself a disrupted year. Three weeks ago we noted that buyer activity historically declines from June onward. The first week of June is consistent with that pattern, layered onto an already weaker demand environment. Worth noting: based on the four weekly readings, May 2026 closed at approximately 520 pending sales — tracking toward what would be the weakest May since 2008 once the official monthly figure is published. Every May from 2009 through 2025 came in above that level.📦 MONTHS OF INVENTORY — 2.82 | ↓ Down 16.5% from last week's 3.38 | ↑ Up 41.3% year over year
MOI eased to 2.82 this week — down 16.5% from last week's Memorial Day-elevated 3.38, but still 41.3% above the 2.00 recorded during the comparable week in 2025. The week-over-week decline is the expected post-holiday recovery as pending sales bounced back. The more important comparison is year over year: MOI sits 41% above last year on a clean, non-holiday basis. MOI remains in balanced market territory, defined locally as 2 to 4 months.🏠 MEDIAN SOLD PRICE (Rolling 30-Day) — $1,522,000 | ↓ Down 1.5% from last week | ↓ Down 7.6% year over year
The 30-day median eased to $1,522,000 — down 1.5% from last week and now 7.6% below the $1,648,000 recorded at this same point in 2025. Closed sales came in at 137 — up 2.2% year over year from the 134 recorded during the comparable week in 2025.🔍 THE BIG PICTURE — WHAT THIS ALL MEANS
The Memorial Day distortion is behind us and the underlying picture is clearly visible. June has opened with pending sales 8% below year-ago levels, inventory 30% above year-ago levels, and MOI 41% above year-ago levels. The 30-day median continues to drift lower and now sits 7.6% below where it stood at this point in 2025. None of this signals a market in crisis. What it does signal is a market operating under measurably tighter conditions for sellers than at any point in recent years — and one that historical patterns suggest will continue building inventory through July before any seasonal relief begins.🏠 FOR SELLERS
With 30.5% more competition on the market than a year ago and demand running 8% below last year as June begins, pricing discipline is more critical now than at any point in 2026. The seasonal turn is underway. Inventory will continue building toward the July peak while pending sales decline from the May high. Sellers who are in the market now with accurate pricing are competing in a better environment than those who wait through summer. We have done extensive analysis on what this shift means for sellers in each Eastside sub-market and would welcome the opportunity to walk you through what the data shows for your specific area and home.🔑 FOR BUYERS
Buyers today have more negotiating leverage for this time of year than at any point since 2011. Active listings are still growing toward the historical July peak — meaning the widest selection window of 2026 remains ahead for prepared buyers. Well-priced homes are still moving, so arriving pre-approved remains essential. With rates still elevated at 6.61%, stress-testing your qualification at current levels before making a move is a sound first step.If we can help you think through what this means for your move, we are here. Tony Meier & Team — Windermere Real Estate / NE, Kirkland, WA
