Audio Version

Tony Meier | Windermere Real Estate | 37 Years Experience | 794 Closed Eastside Sales

The data this week reads in a mixed direction. Rates eased modestly to 6.62%, down 5 basis points from last week’s post-conflict high of 6.67%. Pending sales firmed off last week’s drop to 126, but remain below year-ago levels. And active listings climbed to 1,771, another 2026 high, with the inventory build now in its fifth consecutive month. None of this week’s moves represent a turning point, but the rate of deterioration in headline metrics has slowed compared to recent weeks.

Interest Rates — 6.62%

↓ Down 5 bp from last week’s 6.67%  |  ↓ Down 0.26% year over year

Rates eased to 6.62% this week, down 5 basis points from last week’s post-conflict high of 6.67%. The pre-conflict baseline of 5.99% sits 0.63 points below where rates are today. Year over year, rates remain down 0.26%. This is a modest pullback rather than a meaningful retreat. On a $1.5M home, this week’s rate still represents roughly $620 more per month in carrying costs than buyers faced in late February.

Active Listings — 1,771

↑ Up 1.5% from last week  |  ↑ Up 29.8% year over year

Active listings reached 1,771 this week, another 2026 high and up 29.8% from the 1,364 homes on the market during the comparable week in 2025. The pace of week-over-week growth has slowed to 1.5%, the smallest weekly increase since early May, but we have not yet seen a week where active listings declined. The July seasonal peak is still ahead.

Pending Sales — 126

↑ Up 5.0% from last week  |  ↓ Down 3.8% year over year

Pending sales recovered modestly to 126 this week, up 5.0% from last week’s 120 but still down 3.8% from the 131 recorded during the comparable week in 2025. The YOY gap narrowed sharply from last week’s negative 17.2%, but most of that narrowing reflects an easier comparison rather than a demand recovery. The three-week June trend now reads 138, 120, 126. Demand has steadied in a narrow range below year-ago levels rather than continuing to fall sharply.

Months of Inventory — 3.23

↓ Down 3.3% from last week’s 3.34  |  ↑ Up 34.5% year over year

MOI eased to 3.23 this week, down from last week’s 3.34, driven by the modest pending recovery. Year over year, MOI sits 34.5% above the 2.40 recorded during the comparable week in 2025. MOI remains in balanced market territory, defined locally as 2 to 4 months, but is now in the upper half of that range. One week of MOI decline does not reverse the broader trend of 2026. MOI has crossed 3.0 in five of the last six weekly readings.

Median Sold Price (Rolling 30-Day) — $1,560,000

↑ Up 0.6% from last week  |  ↓ Down 4.5% year over year

The 30-day median ticked up to $1,560,000, up 0.6% from last week and 4.5% below the $1,633,500 recorded at this same point in 2025. Closed sales came in at 123, down 3.9% year over year from the 128 recorded during the comparable week in 2025.

The Big Picture — What This All Means

Four short-term signals moved modestly in sellers’ favor this week. Rates eased. Pending sales firmed. MOI declined. The 30-day median ticked higher. None of these moves are large, but the direction is consistent after several months of one-sided data. At the same time, the structural conditions defining 2026 remain in place: active listings hit another 2026 high, the YOY inventory gap stayed near 30%, prices remain 4.5% below year-ago levels, and MOI is still well above last year. One week of softer headwinds does not change the broader picture. It does, however, mean the rate of deterioration may be slowing, which itself is useful information for both buyers and sellers operating in this market.

For Sellers

With 29.8% more competition on the market than a year ago and demand still running below last year, pricing discipline remains the most critical decision you will make this summer. This week’s modest rate relief is helpful at the margin but does not change the fundamental supply and demand picture. Inventory will continue building toward the July peak while pending sales decline further 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, and this week’s modest rate decline adds slightly to the affordability picture. Active listings are still growing toward the historical July peak, meaning the widest selection window of 2026 remains ahead for prepared buyers. With rates pulling back to 6.62%, it is worth re-engaging with your lender to update your pre-approval at current levels. Well-priced homes are still moving, but the buyer pool remains smaller and more selective than at any spring in over a decade.

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

Audio Version

Tony Meier | Windermere Real Estate | 37 Years Experience | 793 Closed Eastside Sales

Three signals converged this week that sharpen the June picture considerably. Pending sales dropped sharply to 120 from last week’s 138 — and the year-over-year comparison widened to negative 17.2%, the largest YOY pending gap in months. Rates returned to the post-conflict high of 6.67%. And Months of Inventory jumped back to 3.34 — the second-highest weekly reading of 2026, this time without any holiday distortion to explain it.

Interest Rates — 6.67%

↑ Up from last week’s 6.61%  |  ↓ Down 0.26% year over year

Rates climbed back to 6.67% this week — up six basis points from last week and matching the post-conflict high recorded three weeks ago on May 20. The pre-conflict baseline of 5.99% is now 0.68 points below where rates sit today. Year over year, rates remain down 0.26%, but the YOY tailwind has narrowed compared to earlier in 2026 as the comparison base from 2025 declines. On a $1.5M home, this week’s rate still represents roughly $680 more per month in carrying costs than buyers faced in late February.

Active Listings — 1,745

↑ Up 3.1% from last week  |  ↑ Up 29.9% year over year

Active listings reached 1,745 this week — another 2026 high and up 29.9% from the 1,343 homes on the market during the comparable week in 2025. The inventory build continues at its steady pace, adding 53 listings net over the past week as we move closer to the historical July peak.

Pending Sales — 120

↓ Down 13.0% from last week  |  ↓ Down 17.2% year over year

Pending sales fell sharply to 120 this week — down 13.0% from last week’s 138 and the lowest non-holiday reading since April. Year over year, pending is now down 17.2% from the 145 recorded during the comparable week in 2025. This is the widest YOY demand gap in 2026 outside of the Memorial Day distortion. Two consecutive weeks of June data now show pending running 8% and 17% below 2025 respectively — the seasonal decline we anticipated is accelerating, and it is happening from a demand base that was already weaker than last year.

Months of Inventory — 3.34

↑ Up 18.6% from last week’s 2.82  |  ↑ Up 56.5% year over year

MOI jumped to 3.34 this week — up 18.6% from last week and 56.5% above the 2.14 recorded during the comparable week in 2025. Two weeks ago, Memorial Day temporarily pushed MOI to 3.38. This week’s reading of 3.34 is essentially the same level without the holiday explanation — a meaningful signal. MOI remains in balanced market territory, defined locally as 2 to 4 months, but is now solidly in the upper half of that range with buyer-favored conditions (4+ months) within reach if current weekly patterns continue.

Median Sold Price (Rolling 30-Day) — $1,550,000

↑ Up 1.8% from last week  |  ↓ Down 7.7% year over year

The 30-day median ticked up modestly to $1,550,000 — up 1.8% from last week, the first week-over-week gain in several weeks. Year over year, the 30-day median remains 7.7% below the $1,680,000 recorded at this same point in 2025. Closed sales came in at 103 — down 2.8% year over year from the 106 recorded during the comparable week in 2025.

The Big Picture — What This All Means

The story this week is the convergence of three signals pointing in the same direction. Demand is weakening on schedule with the seasonal pattern, but from a starting point that was already 8% below last year. Inventory continues to grow as we approach the July peak. Rates have returned to their post-conflict high, removing the modest tailwind that briefly emerged. MOI has reached a non-holiday level that matches the Memorial Day reading — confirming that the structural conditions defining 2026 are intensifying as the season progresses. None of this is a crisis. What it is, is a market that has now spent four consecutive months operating under measurably tighter conditions for sellers than at any point since 2011 — and the seasonal pattern suggests those conditions will continue to firm through summer.

For Sellers

With 29.9% more competition on the market than a year ago and pending demand 17% below last year’s comparable week, pricing discipline is more critical now than at any point in 2026. The seasonal decline in buyer activity is underway and accelerating. Inventory will continue building toward the July peak while pending sales decline further 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. With rates back at the post-conflict high of 6.67%, stress-testing your qualification at current levels before making a move is more important than ever. Well-priced homes are still moving — but the buyer pool is smaller and more selective than at any spring in over a decade.

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

Northwest Multiple Listing Service (NWMLS), the source for the most current, accurate market listing data in Washington state, today released its May 2026 Market Snapshot.

Housing inventory continued to expand across the NWMLS service area in May, giving buyers more choices as the market moved into the summer season. Active listings increased 16.8% year over year and 15.2% from April, reaching 21,381 homes on the market — the highest inventory level recorded so far in 2026. Buyers had access to nearly 2,800 more homes than the previous month, while months of inventory increased to 3.44 months, continuing a gradual shift toward a more balanced market.

Despite ongoing affordability challenges, buyer activity remained steady. Pending sales increased 7.7% from April and closed sales rose 9.5% month over month, reflecting continued market activity as the spring buying season transitioned into summer. Home prices remained remarkably stable despite growing inventory, with the median sales price holding at $650,000 for the second consecutive month and declining less than 1% compared to May 2025.

Consumer engagement also remained strong. Keybox activity increased 12.2% from April, and more than 25,000 listings received at least one showing during the month, up 10.8% from a year ago. In addition, 73.1% of listings across the NWMLS service area qualified for down payment assistance programs, providing opportunities for buyers navigating today’s affordability challenges.

While inventory levels continued to grow, elevated mortgage rates remained a key factor influencing buyer demand and affordability.

Steven Bourassa, director of the Washington Center for Real Estate Research at the University of Washington, said, “According to Freddie Mac, 30-year mortgage rates increased by about a quarter of a percent last month, rising from 6.30% at the end of April to 6.53% at the end of May. This reflects the ongoing impacts of the war with Iran, specifically higher inflation in consumer prices due largely to a sharp increase in energy costs. Following the general pattern we have seen in recent months, the number of listings continued to grow relative to the same month a year earlier, while sales transactions and prices were both down (or flat) due to the affordability constraint imposed by high interest rates. Without any clear resolution to this crisis on the horizon, it is difficult to predict when interest rates will resume the downward trajectory that they displayed prior to the start of the war at the end of February.”

May 2026 Key Takeaways

Active Listings

• The total number of properties listed for sale increased 16.8% year over year, with 21,381 active listings on the market at the end of May 2026, compared to 18,310 at the end of May 2025. Month over month, active inventory increased 15.2%, up from 18,563 in April 2026.
• Buyers had access to nearly 2,800 more homes than the previous month, continuing a trend of rapidly expanding inventory across the Northwest MLS service area. Inventory levels are now at their highest point so far in 2026.
• The five counties with the largest year-over-year inventory increases were Okanogan (+43.7%), Walla Walla (+38%), Thurston (+35.6%), Snohomish (+33.6%), and Chelan (+29%).

Pending and Closed Sales

• There were 8,168 residential and condominium units under contract in May 2026, a slight decrease of 1.0% compared to May 2025 (8,249). Pending sales increased 7.7% from April 2026, when 7,584 listings were under contract.
• Closed sales decreased 3.9% year over year, with 6,213 transactions in May 2026 compared to 6,467 in May 2025. Month over month, sales increased 9.5%, up from 5,674 in April 2026.

Median Sales Price and Total Dollar Value

• The median sales price for residential homes and condominiums sold in May 2026 was $650,000, down 0.8% from May 2025 ($654,995) and unchanged from April 2026.
• The counties with the highest median sales prices were San Juan ($1,125,000), King ($875,000), and Snohomish ($759,875), while the lowest median prices were recorded in Adams ($309,000), Okanogan ($327,000), and Grays Harbor ($369,000).
• The total dollar value of closed sales in May 2026 was $4.68 billion for residential homes and $446.5 million for condominiums, for a combined total of $5.13 billion.

Consumer and Broker Activity

NWMLS also tracked several indicators of consumer and broker engagement in May, showing continued buyer activity despite elevated mortgage rates.

• Keyboxes at listed properties were accessed 182,173 times in May 2026, a 12.2% increase from April 2026. Year over year, keybox activity increased 1.4% from 179,613 accesses in May 2025.
• The total number of property showings scheduled through NWMLS-provided software increased 5.0% month over month, from 123,324 showings in April 2026 to 129,505 in May 2026. Year over year, showings decreased 2.3% from 132,501 in May 2025.
• A total of 23,635 listings were eligible for the NWMLS Down Payment Resource program in May 2026, an increase of 15.7% from April 2026 and 15.8% from May 2025. Overall, 73.1% of listings in the NWMLS database qualified for down payment assistance programs. (This count includes all property types in the NWMLS database, including multifamily properties and manufactured homes in parks.)

4 Min. Read

Audio Version

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

4 Min. Read

Audio Version

May Is Tracking as the Weakest Demand Month Since 2008 — The Seasonal Turn Is Underway | Seattle’s Eastside Real Estate Update 05-27-26

Tony Meier | Windermere Real Estate | 37 Years Experience | 792 Closed Eastside Sales

Memorial Day week arrived this week — the same holiday that suppressed pending sales to 112 in the comparable week of 2025. This week’s reading of 113 is essentially identical, making the year-over-year comparison one of the cleanest in the 2026 data set. What the holiday does not change is the broader story: May is drawing to a close, and its trajectory confirms what we signaled three weeks ago.

WHAT’S COVERED THIS WEEK

INTEREST RATES — 6.61% | ↓ Slight dip from last week’s 6.67% | ↓ Down 0.36% year over year

Rates eased slightly to 6.61% this week — down from last week’s post-conflict high but still 0.62 points above the pre-conflict baseline of 5.99%. Year over year, rates remain down 0.36%. The modest improvement is welcome but does not materially change the affordability picture — on a $1.5M home, the rate spread still represents roughly $620 more per month than buyers faced in late February.

ACTIVE LISTINGS — 1,660 | ↑ Up 2.1% from last week | ↑ Up 34.4% year over year

Active listings reached 1,660 this week — another 2026 high and up 34.4% from the 1,235 homes on the market during Memorial Day week in 2025. The inventory build has not paused. We are now approaching what historical data identifies as the seasonal July peak, and the weekly additions continue without interruption.

PENDING SALES — 113 | ↓ Down 22.6% from last week | ↑ Up 0.9% year over year

Pending sales came in at 113 this week — down 22.6% from last week’s 146, but that decline is almost entirely explained by Memorial Day. Last year’s comparable week produced 112 pending sales under the same holiday conditions. Year over year, this week is essentially flat at plus 0.9%. The more important number this week is the May trajectory: based on four weeks of weekly data, May 2026 is tracking toward approximately 520 pending sales for the month. For context, May 2008 — during the Great Recession — produced 522. Every May from 2009 through 2025 came in above that level. If the current tracking holds through month-end, May 2026 would be the weakest May in nearly two decades of data. Three weeks ago we noted that buyers are most active at the seasonal peak and that the decline begins in June. That decline is now underway.

MONTHS OF INVENTORY — 3.38 | ↑ Up 31.9% from last week’s 2.56 | ↑ Up 32.8% year over year

MOI jumped to 3.38 this week — driven primarily by the Memorial Day pending suppression. Last year’s Memorial Day week produced a MOI of 2.54. This year’s 3.38 is 33% above that on a like-for-like holiday comparison — a meaningful gap that reflects the structural inventory build, not just the seasonal calendar. MOI remains in balanced market territory, defined locally as 2 to 4 months, though this week’s reading is approaching the upper boundary. Next week’s data, with buyers returning from the holiday, will provide a cleaner June baseline.

MEDIAN SOLD PRICE (Rolling 30-Day) — $1,545,000 | ↓ Down 0.5% from last week | ↓ Down 5.9% year over year

The 30-day median held near recent levels at $1,545,000 — down 0.5% from last week and 5.9% below the $1,642,500 recorded at this same point in 2025. Closed sales came in at 100 — essentially flat year over year from the 101 recorded during the comparable week in 2025.

THE BIG PICTURE — WHAT THIS ALL MEANS

May is tracking toward its weakest pending total since 2008. Active listings set another 2026 high. MOI — even adjusted for the Memorial Day distortion — sits meaningfully above last year on a like-for-like basis. The seasonal demand peak has passed. From here, historical patterns are clear: pending sales decline through summer while inventory continues building toward a July peak. The window for sellers who want to transact in the most favorable demand environment of 2026 has narrowed considerably. What remains is still a functioning market — accurately priced homes are still selling — but the conditions are measurably more challenging than they were four weeks ago.

FOR SELLERS

With 34.4% more competition on the market than a year ago and May demand tracking toward a nearly two-decade low, 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 for 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

5 Min. Read

Audio version

A New Rate High, a Pending Rebound, and a Market Still Searching for Direction | Seattle’s Eastside Real Estate Update 05-20-26

Tony Meier | Windermere Real Estate | 37 Years Experience | 789 Closed Eastside Sales

Two signals this week cut in opposite directions and deserve careful reading. Rates climbed to 6.67% — a new post-conflict high that surpasses even the 6.62% reached intra-week in late March. At the same time, pending sales jumped to 146 and Months of Inventory declined for the second consecutive week. Before reading too much into the pending rebound, context matters: May is historically the peak pending month on the Eastside, confirmed in 14 of the last 20 years. A jump in the final week of May is consistent with seasonal peak activity — not a signal of strengthening demand. From June onward, buyer activity historically declines. The market is sending mixed signals, and the data warrants an honest read of both.

WHAT’S COVERED THIS WEEK

INTEREST RATES — 6.67% | ↑ Up from last week’s 6.57% | ↓ Down 0.32% year over year

Rates reached 6.67% this week — up 10 basis points from last week and now the highest reading since the Iran conflict began, surpassing the previous intra-week high of 6.62% reached in late March. The pre-conflict baseline of 5.99% is now 0.68 points below where rates sit today. Year over year, rates remain down 0.32%, but the near-term move is the operative signal. On a $1.5M home, this week’s rate represents roughly $650 more per month in carrying costs than buyers faced in late February.

ACTIVE LISTINGS — 1,626 | ↑ Up 5.1% from last week | ↑ Up 31.1% year over year

Active listings reached 1,626 this week — another 2026 high and up 31.1% from the 1,240 homes on the market during the comparable week in 2025. The inventory build continues at a steady pace with no sign of plateauing.

PENDING SALES — 146 | ↑ Up 9.8% from last week | ↓ Down 2.0% year over year

Pending sales came in at 146 this week — up 9.8% from last week and the strongest weekly reading since spring break ended. Year over year, pending is down just 2.0% from the 149 recorded during the comparable week in 2025. The week-over-week improvement is real, but it arrives at the seasonally expected peak. May is historically the strongest pending month of the year on the Eastside — confirmed in 14 of the last 20 years — and the final week of May routinely produces the highest single-week readings before demand begins its seasonal retreat in June. With three weeks now complete, May 2026 is tracking toward approximately 540 to 560 pending sales for the month. That would represent the weakest May since 2008, even with this week’s uptick. The data is not signaling a demand recovery — it is signaling that buyers are active at the seasonal peak, as they historically are, before the summer slowdown begins.

MONTHS OF INVENTORY — 2.57 | ↓ Down 4.1% from last week’s 2.68 | ↑ Up 33.8% year over year

MOI declined to 2.57 this week — down from last week’s 2.68 and the second consecutive week of decline, the first back-to-back drop since February. The driver is the pending rebound rather than any slowdown in new listings. MOI remains solidly in balanced market territory, defined locally as 2 to 4 months, and sits 33.8% above the 1.92 recorded during the comparable week in 2025. Two weeks of MOI decline is worth noting, but should be read alongside the seasonal context: pending sales typically peak in May and fall from June onward, which means MOI is likely to resume its climb as summer progresses and buyer activity retreats from its seasonal high.

MEDIAN SOLD PRICE (Rolling 30-Day) — $1,552,500 | ↓ Down 1.4% from last week | ↓ Down 5.9% year over year

The 30-day median eased slightly to $1,552,500 — down 1.4% from last week and 5.9% below the $1,650,000 recorded at this same point in 2025. Closed sales came in at 111 — up 18.1% year over year from the 94 recorded during the comparable week in 2025, a positive transaction signal that reflects deals written several weeks ago rather than current market conditions.

THE BIG PICTURE — WHAT THIS ALL MEANS

This week the data produces a familiar pattern at an unfamiliar scale. Pending sales are at their seasonal peak — as expected in the final week of May — and MOI has dipped modestly as a result. Rates are simultaneously at their highest level since the conflict began. These two forces are pulling in opposite directions, but the seasonal one is temporary. History is clear: pending sales decline from June onward, inventory continues to build toward a July peak, and the MOI pressure that has defined 2026 since February is more likely to resume than reverse. The market is functioning at its seasonal best right now. What comes next is the more important question.

FOR SELLERS

With 31.1% more competition on the market than a year ago, pricing discipline remains the single most important decision you will make. Homes priced accurately against today’s comparable sales are still selling, while overpriced listings are sitting longer and often requiring reductions that erode both value and negotiating position. The seasonal data makes the timing case clearly: pending sales are at their annual peak now and will decline from June onward, while inventory continues building toward a July high. Sellers who wait are not simply facing more competition — they are facing more listings and fewer buyers simultaneously. Homes that are accurately priced and well-prepared today are entering the market at the most favorable point in the seasonal curve that 2026 will offer. 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. Based on 20 years of data, active listings typically peak in July before beginning a sustained seasonal decline. Buyers who are pre-approved and ready to move now will have the most choices available to them at any point in 2026 — but that window is finite. With rates at a new post-conflict high, arriving pre-approved and stress-testing your qualification at current levels before making a move is an essential 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

5 Min. Read

Audio Edition:

Rates Hit a New Wednesday High — While Inventory Holds Its Breath | Seattle’s Eastside Real Estate Update 05-13-26

Tony Meier | Windermere Real Estate | 37 Years Experience | 789 Closed Eastside Sales

Two data points stand out this week above all others. At 6.57%, this week’s rate is the highest recorded in our Wednesday weekly update since the Iran conflict began in late February — rates did reach 6.62% intra-week in late March, but this is the highest Wednesday reading we have logged. And for the first time since February, Months of Inventory held essentially flat week over week rather than climbing. Both are worth understanding carefully before drawing conclusions.

WHAT’S COVERED THIS WEEK

INTEREST RATES — 6.57% | ↑ Up from last week’s 6.44% | ↓ Down 0.35% year over year

Rates climbed to 6.57% this week — up 13 basis points from last week and the highest Wednesday reading in our weekly update since the Iran conflict began. Rates reached 6.62% intra-week in late March, so this is not the absolute post-conflict high, but it represents a meaningful reversal of the partial recovery that had built since then. The pre-conflict baseline of 5.99% is now 0.58 points below where rates sit today. Year over year, rates remain down 0.35%, but the near-term direction has reasserted itself as the dominant signal. On a $1.5M home, this week’s rate represents roughly $550 more per month in carrying costs than buyers faced in late February.

ACTIVE LISTINGS — 1,547 | ↑ Up 3.8% from last week | ↑ Up 35.6% year over year

Active listings reached 1,547 this week — another 2026 high and up 35.6% from the 1,141 homes on the market during the comparable week in 2025. The inventory build continues, though the pace of week-over-week growth moderated slightly to 3.8% from last week’s 6.3%.

PENDING SALES — 133 | ↑ Up 3.9% from last week | ↓ Down 17.4% year over year

Pending sales ticked up modestly to 133 — up from last week’s 128 and the first reading above 130 since spring break ended. Year over year, pending remains down 17.4% from the 161 recorded during the comparable week in 2025. The five-week trend — 128, 125, 128, 128, 133 — shows demand holding in a narrow range rather than declining further, but also not accelerating.

May is historically the strongest month for buyer demand on the Eastside — the peak pending month in 13 of the last 20 years, with an average of 864 pending sales across the full dataset. Based on the first two weeks of data, May 2026 is tracking toward approximately 520 to 560 pending sales for the month. If that holds, it would represent the weakest May buyer demand since 2008. Two weeks remain and that trajectory can change — but the current pace, set against the strongest seasonal demand month of the year, is the most telling data point in today’s update.

MONTHS OF INVENTORY — 2.68 | → Essentially flat from last week’s 2.69 | ↑ Up 64.1% year over year

MOI came in at 2.68 this week — essentially flat from last week’s 2.69, and the first week since February that MOI has not climbed. That single data point does not signal a reversal — one flat week after fifteen consecutive weeks of increases does not establish a trend. What it does signal is that the modest uptick in pending sales offset the continued inventory build this week, producing a neutral result. MOI sits 64.1% above the 1.64 recorded during the comparable week in 2025 and remains solidly in balanced market territory, defined locally as 2 to 4 months.

MEDIAN SOLD PRICE (Rolling 30-Day) — $1,575,000 | ↑ Up 0.8% from last week | ↓ Down 4.0% year over year

The 30-day median held steady at $1,575,000 — up a modest 0.8% from last week and 4.0% below the $1,640,000 recorded at this same point in 2025. Prices continue to hold in a narrow near-term range while the year-over-year gap persists.

THE BIG PICTURE — WHAT THIS ALL MEANS

This week’s story has two threads. Rates hitting the highest Wednesday reading since the conflict began at 6.57% is a genuine headwind for buyers and a signal sellers need to factor into their pricing decisions — a wider affordability gap means a smaller qualified buyer pool. At the same time, MOI holding flat for the first time since February and pending sales ticking above 130 are data points worth noting, even if one week is too early to call a shift. The market remains in balanced territory. Demand is present. Inventory is elevated. Accurate pricing is still the variable that separates homes that close from homes that sit.

FOR SELLERS

With 35.6% more competition on the market than a year ago and rates at their highest Wednesday reading since the conflict began, pricing discipline is the single most important decision you will make. Homes priced accurately against today’s comparable sales are still selling, while overpriced listings are sitting longer and often requiring reductions that erode both value and negotiating position.

The data also signals that market dynamics are likely to intensify before they ease. Historically, active listings on the Eastside peak in July — meaning sellers entering the market now are doing so ahead of the most competitive inventory environment of the year. At the same time, pending sales historically peak in May and decline from June onward. Sellers who wait are not simply facing more competition — they are facing more listings and fewer buyers simultaneously. Homes that are accurately priced and well-prepared today are entering the market at a more favorable point in that seasonal curve than those that wait. 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. Demand is active — this week’s pending numbers confirm it. The next 6 to 8 weeks represent the widest selection window of the year. Based on 20 years of data, active listings on the Eastside typically peak in July before beginning a sustained seasonal decline through fall and winter. Buyers who are pre-approved and ready to move now will have the most choices available to them at any point in 2026. That window is real — but it is also finite. With rates climbing again this week, arriving pre-approved and stress-testing your qualification at current levels before making a move is an essential 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

3 Min. Read

Flat Demand, Rising Supply, and More Inventory Than Even Last Year’s Disrupted Market | Seattle’s Eastside Real Estate Update 05-06-26

Tony Meier | Windermere Real Estate | 37 Years Experience | 789 Closed Eastside Sales

Spring break is behind us and the seasonal distortions have cleared. What remains is a market in a steady, measurable drift — more supply each week, flat demand, and Months of Inventory climbing at a pace not seen at this time of year since 2011.

WHAT’S COVERED THIS WEEK

INTEREST RATES — 6.44% | → Essentially flat from last week | ↓ Down 0.44% year over year

Rates held essentially flat at 6.44% this week — down just one basis point from last week and down 0.44% compared to this same week one year ago. The year-over-year tailwind remains intact, but rates continue to hover near the post-conflict range rather than recovering toward pre-conflict levels. The 0.45-point spread above the pre-conflict baseline of 5.99% remains a meaningful headwind for buyer qualification.

ACTIVE LISTINGS — 1,491 | ↑ Up 6.3% from last week | ↑ Up 37.7% year over year

Active listings reached 1,491 this week — another 2026 high and up 37.7% from the 1,083 homes on the market during the comparable week in 2025. Active listings have climbed steadily throughout 2026, with this week setting a new high. The inventory build is consistent and showing no sign of plateauing.

PENDING SALES — 128 | → Flat for the fourth consecutive week | ↓ Down 12.9% year over year

Pending sales came in at 128 for the fourth consecutive week — holding in a narrow range of 125 to 128 since mid-April. The demand signal has gone flat. Buyers are writing contracts at a consistent but unchanged pace while supply continues to expand around them. Year over year, pending is down 12.9% from the 147 recorded during the comparable week in 2025.

MONTHS OF INVENTORY — 2.69 | ↑ Up 6.3% from last week’s 2.53 | ↑ Up 58.1% year over year

MOI reached 2.69 this week — continuing the steady climb that has defined 2026 since February. The non-spring-break weekly progression tells the story clearly: 1.66 pre-conflict in late February, crossing 2.0 for the first time in March, 2.35 in early April, 2.43 and 2.53 in the two weeks following spring break, and now 2.69 to open May. Each post-spring-break week has set a new high. For additional context, the full month of May 2025 — during the tariff disruption — averaged 2.12. We are already at 2.69 in the first week of May 2026, above where that entire disrupted month landed last year. MOI remains in balanced market territory, defined locally as 2 to 4 months, and sits 58.1% above the 1.70 recorded during the comparable week in 2025.

MEDIAN SOLD PRICE (Rolling 30-Day) — $1,562,000 | ↓ Down 0.8% from last week | ↓ Down 5.3% year over year

The 30-day median eased slightly to $1,562,000 — down 0.8% from last week and 5.3% below the $1,650,000 recorded at this same point in 2025. The weekly closed median of $1,450,000 reflects a sample of 105 closed sales and should be read alongside the 30-day figure rather than in isolation. The 30-day trend is the more reliable price signal and it continues to run below year-ago levels.

THE BIG PICTURE — WHAT THIS ALL MEANS

The clearest story this week is the combination of flat pending and rising inventory. For four consecutive weeks, pending sales have held in a narrow range of 125 to 128 — a stable demand signal that is simply not keeping pace with supply. Active listings set a new 2026 high again. Months of Inventory climbed again. The 30-day median eased again. These are not dramatic week-over-week moves — they are a consistent, data-supported drift in one direction. The market that sellers are navigating in May 2026 is measurably more challenging than May 2025, which was itself a disrupted year. Accurate pricing remains the primary lever available to sellers who want to transact rather than accumulate days on market.

FOR SELLERS

With 37.7% more competition on the market than a year ago and demand flat for four consecutive weeks, pricing discipline is the single most important decision you will make. Homes priced accurately against today’s comparable sales — not 2025 peaks, and not the partial recovery readings from January or February 2026 — are still selling, while overpriced listings are sitting longer and often requiring reductions that erode both value and negotiating position. 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. Four consecutive weeks of stable pending numbers confirm that well-priced homes are still attracting offers — but the expanded supply means buyers have more choices, more time for due diligence, and more room for thoughtful negotiation than at any spring in the past decade. Arriving pre-approved and prepared remains essential.

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

4 Min. Read

Audio version:

April Listings Cross a 14-Year High — and the Demand Gap Tells the Real Story | Seattle’s Eastside Real Estate Update 04-29-26

Tony Meier | Windermere Real Estate | 37 Years Experience | 789 Closed Eastside Sales

Two milestones arrived together this week that place the current Eastside market in a context we have not seen since 2012. At 1,402 active listings, April 2026 has now surpassed the previous modern-era April high of 1,285 set in 2019. To find a higher April listing count, you have to go back to April 2012 at 1,729.

WHAT’S COVERED THIS WEEK

INTEREST RATES — 6.45% | ↑ Up from last week’s 6.32% | ↓ Down 0.36% year over year

Rates reversed course this week, climbing back to 6.45% from last week’s 6.32% — a 13-basis-point move in a single week that returns rates to within range of the March peak. Rates now sit 0.46 points above the pre-conflict baseline of 5.99%, erasing much of the partial recovery that had built over the prior three weeks. Year over year, rates remain down 0.36% — but the near-term direction is the signal buyers are responding to.

ACTIVE LISTINGS — 1,402 | ↑ Up 6.7% from last week | ↑ Up 43.8% year over year

Active listings reached 1,402 this week — surpassing the 2019 April high of 1,285 and setting a level not seen in any April since 2012. March’s weekly data had stayed just below the 2019 benchmark. That changed this week. For context: when April listings last reached comparable levels in 2012, there were 917 pending sales absorbing them, producing a MOI of 1.89. Today, with similar supply, the demand picture is fundamentally different.

PENDING SALES — 128 | → Essentially flat from last week | ↓ Down 13.5% year over year

Pending sales came in at 128 — essentially flat from last week’s 125 and down 13.5% from the 148 recorded during the comparable week in 2025. Demand has not evaporated, but the gap between supply growth and buyer absorption continues to widen. Estimated monthly pending of roughly 512 against 1,402 active listings produces an absorption ratio of approximately 37% — compared to 77% when April listings were last at comparable levels in 2019.

MONTHS OF INVENTORY — 2.53 | ↑ Up 4.1% from last week’s 2.43 | ↑ Up 66.3% year over year

MOI reached 2.53 this week — the highest April reading in this dataset since 2011. The monthly data confirms March 2026 closed at 2.08, already the highest March since 2011. April is now tracking materially above that. In each of the three prior years where MOI crossed 2.0 — 2018, 2022, and 2025 — it continued climbing through summer before peaking in fall or winter. In 2026, we have crossed that threshold two to three months earlier than in any of those prior cycles, entering the seasonal inventory build from a significantly more elevated base.

MEDIAN SOLD PRICE (Rolling 30-Day) — $1,575,000 | ↑ Up 3.96% from last week | ↓ Down 7.9% year over year

The 30-day median recovered modestly to $1,575,000 — still 7.9% below the $1,700,000 recorded at this same point in 2025. The weekly closed median of $1,727,500 reflects a thin transaction sample and should not be read as a standalone trend indicator.

THE BIG PICTURE — WHAT THIS ALL MEANS

Two things are now confirmed by the data. First, April 2026 active listings have crossed above the 2019 April high — the first time any April has reached this level since 2012. Second, the demand side that absorbed comparable inventory levels in 2012 and 2019 no longer exists at that scale. In 2012, 917 monthly pending sales met 1,729 listings. In 2019, 997 buyers met 1,285 listings. Today, an estimated 512 monthly pending sales are meeting 1,402 listings. The supply milestone matters — but the demand gap is the more consequential number. MOI at 2.53 and climbing into the seasonal build season is the clearest expression of that gap.

FOR SELLERS

With more active listings this April than at any point since 2012, pricing discipline is the single most important decision you will make. Homes priced accurately against today’s comparable sales — not 2025 peaks, not January or February 2026 — are still selling, while overpriced listings are sitting longer and requiring reductions that erode both value and negotiating position. We have done extensive analysis on what this shift means for sellers across 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 are operating in the most supply-rich April market since 2012 — with significantly more negotiating leverage than that prior inventory cycle produced, because demand is thinner relative to supply. More choices, more time for due diligence, and more room for thoughtful negotiation than any spring in the past decade. Well-priced homes are still moving, so arriving pre-approved and prepared remains essential — and with rates moving back up this week, stress-testing your qualification at current levels before making a move is a sound 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

Audio version here:

Spring break has wound down across King and Snohomish County school districts and this week’s data reflects a more normal operating environment. Buyers are back, inventory is still climbing, and the underlying market dynamics that defined March continue to hold.

WHAT’S COVERED THIS WEEK

INTEREST RATES — 6.32% | → Flat from last week | ↓ Down 0.66% year over year

Rates held steady at 6.32% this week — unchanged from last week and now down 0.66% compared to this same time one year ago. The year-over-year comparison has become a genuine tailwind for buyers. Rates currently sit 0.33 points above pre-conflict levels — the partial recovery from the peak spike continues to hold.

ACTIVE LISTINGS — 1,314 | ↑ Up 5.5% from last week | ↑ Up 52.1% year over year

Active listings reached 1,314 this week — another 2026 high and up 52.1% from the 864 homes on the market during the comparable week in 2025. The seasonal inventory build is continuing, and with spring break fully behind us, new listings are coming to market at a pace consistent with the broader trend we have tracked since February.

PENDING SALES — 125 | ↓ Essentially flat from last week’s 128 | ↑ Up 15.7% year over year

Pending sales came in at 125 — essentially holding the post-spring-break rebound level from last week, and up 15.7% compared to the 108 contracts written during the same week in 2025. Two consecutive weeks of pending sales above 120 confirm that buyers are active and engaged. Demand is present — it is inventory growth that is outpacing it.

MONTHS OF INVENTORY — 2.43 | ↑ Up 8.1% from last week’s 2.24 | ↑ Up 31.4% year over year

MOI settled at 2.43 this week — up modestly from last week’s 2.24 as inventory continued to grow faster than pending sales. At 2.43, MOI remains solidly in balanced market territory, defined locally as 2 to 4 months, and is 31.4% above the 1.85 recorded during the comparable week in 2025. This is the clearest post-spring-break read we have had on where the market is actually operating, and it confirms the balanced conditions that have defined 2026 since early March.

MEDIAN SOLD PRICE (Rolling 30-Day) — $1,515,000 | ↓ Down 1.5% from last week | ↓ Down 10.9% year over year

The 30-day median eased slightly to $1,515,000 — down 1.5% from last week and now 10.9% below the $1,700,000 recorded at this same point in 2025. The weekly closed median of $1,500,000 is consistent with that picture. Prices are not collapsing, but the year-over-year gap has widened to nearly 11% and shows no sign of closing in the near term.

THE BIG PICTURE — WHAT THIS ALL MEANS

With spring break behind us, this week provides the clearest picture of where the April market is genuinely operating. The takeaway is consistent with what the data has shown since March: buyers are active, inventory is running well above recent spring averages, and MOI is at its highest seasonal level since 2011. Two consecutive weeks of pending sales above 120 confirm demand has not evaporated — it is simply navigating a market with materially more supply than it has seen at this time of year in over a decade. For sellers, the margin for error on pricing remains narrow. For buyers, the leverage that comes with balanced conditions is real and present.

FOR SELLERS

With 52.1% more competition on the market than a year ago, pricing discipline is the single most important decision you will make. Homes priced accurately against today’s comparable sales — not 2025 peaks, and not even the partial recovery readings from January and February 2026 — are still selling well, while overpriced listings are sitting longer and often requiring reductions that erode both value and negotiating position. We have done extensive analysis on exactly what this market shift means for sellers in each Eastside sub-market — if you are considering a move, we 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 — spring — than at any point since 2011. Two consecutive weeks of strong pending numbers confirm that well-priced homes are still attracting offers. More choices, more time to conduct proper due diligence, and more room for thoughtful negotiation than buyers have experienced in years — but arriving pre-approved and prepared remains essential in a market where accurately priced homes are still moving.

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

Audio Version here:

Last week we cautioned that the spring-break-elevated MOI of 3.16 was not a reliable baseline, with several school districts still on break this week. That caution was well-placed. Here is what the data shows as spring break winds down.

WHAT’S COVERED THIS WEEK

INTEREST RATES — 6.32% | ↓ Down from last week’s 6.38% | ↓ Down 0.56% year over year

Rates continued their gradual retreat this week, easing to 6.32% — down from 6.38% last week and down 0.56% compared to this same week one year ago. Rates have now recovered meaningfully from the peak spike of 0.65 points above pre-conflict levels and currently sit 0.33 points above where they were before the Iran conflict began. That partial recovery is a modest positive for buyer affordability, though rates remain elevated relative to late February.

ACTIVE LISTINGS — 1,245 | ↑ Up 5.7% from last week | ↑ Up 52.4% year over year

Active listings climbed again to 1,245 — another 2026 high and up 52.4% from the 817 homes available during the comparable week in 2025. Inventory is continuing its seasonal build, with some districts still on spring break this week adding to the supply-side pressure.

PENDING SALES — 128 | ↑ Up 48.8% from last week | ↑ Up 25.5% year over year

Pending sales bounced back sharply to 128 this week — up 48.8% from last week’s spring-break-suppressed reading of 86, and up 25.5% compared to the same week in 2025, when 102 contracts were written. That rebound confirms what last week’s data suggested: buyer demand did not disappear during spring break, it was deferred. Buyers are active and engaging with the market when they are available to do so.

MONTHS OF INVENTORY — 2.24 | ↓ Down 29.0% from last week’s 3.16 | ↑ Up 21.4% year over year

MOI pulled back to 2.24 from last week’s spring-break-elevated 3.16 — a significant weekly swing that confirms our caution against treating 3.16 as a new baseline. At 2.24, MOI remains solidly in balanced market territory, defined locally as 2 to 4 months, and sits 21.4% above the 1.85 recorded during the comparable week in 2025. The underlying trend is unchanged — this market is more balanced than it has been at this time of year since 2011.

MEDIAN SOLD PRICE (Rolling 30-Day) — $1,537,944 | ↓ Down 2.6% from last week | ↓ Down 10.0% year over year

The 30-day median eased to $1,537,944 — now 10% below the $1,710,000 recorded at this same point in 2025. The weekly closed median of $1,470,000 reflects a still-thin sales sample as spring break winds down and should be interpreted with caution. The 30-day figure, which smooths weekly volatility, is the more reliable price indicator and it is pointing clearly below year-ago levels.

THE BIG PICTURE — WHAT THIS ALL MEANS

The key data point this week is the pending rebound to 128 — up 25.5% year over year on a comparable-week basis. Buyers are active and have not stepped away from this market. What has changed is the environment they are buying into: more inventory, more choices, and more negotiating room than at any comparable spring period since 2011. Inventory at 1,245 continues to set 2026 highs, and the 30-day median running 10% below last year signals that pricing discipline remains essential for sellers. The market is functioning — but it is rewarding accuracy and preparation, not optimism.

FOR SELLERS

With 52.4% more competition on the market than a year ago, pricing discipline is the single most important decision you will make. Homes priced accurately against today’s comparable sales — not 2025 peaks, and not even the partial recovery readings from January and February 2026 — are still selling well, while overpriced listings are sitting longer and often requiring reductions that erode both value and negotiating position. We have done extensive analysis on exactly what this market shift means for sellers in each Eastside sub-market — if you are considering a move, we 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 — spring — than at any point since 2011. This week’s pending rebound confirms that well-priced homes are still attracting offers. More choices, more time to conduct proper due diligence, and more room for thoughtful negotiation than buyers have experienced in years — but arriving pre-approved and prepared remains essential in a market where accurately priced homes are still moving.

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

This month, those three numbers are telling a clear story across the Eastside, Seattle, and Snohomish County. Let’s walk through them together.

The Three Numbers Every Homeowner Should Watch

When clients ask us how to read the market, we always come back to the same three indicators: interest rates, months of inventory, and median sales price. Individually, each tells you something. Together, they tell you where the market is heading and how to position yourself within it.

Here’s where we stand in April 2026.

Median Sales Price: A Year-Over-Year Reset

Prices have softened across all three markets compared to this time last year, but the magnitude varies significantly by region.

The Eastside has seen the steepest correction, which makes sense when you consider how aggressively prices ran up in 2023 and 2024. Higher-priced markets are typically more sensitive to shifts in interest rates and buyer sentiment, and the Eastside’s luxury tier is feeling that pressure most directly.

Seattle is holding up moderately better, while Snohomish County — historically the more affordable of the three — is showing the most resilience. For move-up buyers, this creates a meaningful opportunity: if you’re selling on the Eastside and buying further north, the math may actually be working in your favor for the first time in years.

Months of Inventory: The Market Has Shifted

Months of Inventory (MOI) is the single best measure of supply-and-demand balance. It tells you how long it would take to sell every active listing at the current pace. Generally:

• 0–2 months = Seller’s Market
• 2–4 months = Balanced Market
• 4+ months = Buyer’s Market

Here’s how today compares to March 2025 and the 10-year historical average:

Read that table carefully. Every market is now running roughly two times higher than its 10-year norm. The Eastside has crossed into balanced-market territory for the first time in over a decade. Seattle and Snohomish County are right at the edge.

This isn’t a crash — it’s a reset. Buyers finally have choices. Sellers no longer have automatic leverage. And the homes that are winning right now are the ones priced and prepared to compete on day one.

Interest Rates: Better Than Last Year, But Climbing Again

Rates are down 0.46% compared to March 2025, which is genuinely good news for buyers. Lower borrowing costs translate directly into better purchasing power and more breathing room in monthly budgets.

That said, rates have ticked up compared to earlier in 2026. The window for the most favorable financing of the year may be narrowing, which is something both buyers and sellers should factor into their timing decisions.

For sellers, slightly higher rates mean buyers are more price-sensitive than they were even sixty days ago. For buyers, it means waiting for “the perfect rate” continues to be a losing strategy — the better play is to find the right home at a price that works today and refinance later if rates drop.

What This Means for the Eastside

Kirkland, Redmond, Woodinville, Bellevue, Bothell, and Sammamish are still home to some of the most desirable real estate in the Pacific Northwest, and that hasn’t changed. The fundamentals remain extraordinary:

• Top-rated school districts including Lake Washington, Bellevue, Northshore, and Issaquah
• Direct access to Lake Washington and Lake Sammamish
• Miles of regional trails and protected open space
• Proximity to Microsoft, Google, Meta, and Amazon

What’s changed is the negotiating dynamic. Buyers who were locked out for years are stepping back in. Sellers who price ahead of the market are still creating successful sales. Sellers who react to the market — chasing it down with reductions — are watching their listings sit.

If you’re considering selling on the Eastside this spring, the strategy Tony Meier & Team is recommending to clients is straightforward: price it right the first time, present it beautifully, and don’t try to test the market. The data simply doesn’t support that approach right now.

What This Means for Seattle

Seattle’s market is in a more comfortable place than the Eastside, with prices holding closer to last year’s levels and inventory still on the lighter side of balanced. For sellers in neighborhoods with strong walkability, transit access, and proximity to downtown employers, demand remains real — but so does buyer scrutiny.

Seattle buyers in 2026 are taking their time. They’re comparing more homes, asking sharper questions, and walking away from anything that feels overpriced or under-prepared. The homes that move quickly are the ones that look turn-key, are priced with discipline, and have professional marketing behind them.

What This Means for Snohomish County

Snohomish County continues to be the value story of the region. With prices down only -2.54% year over year and inventory still well below true buyer’s-market territory, sellers here have more leverage than their counterparts to the south.

For buyers, Snohomish County is offering something rare in the Puget Sound region right now: room to negotiate without sacrificing long-term appreciation potential. Communities like Bothell, Mill Creek, Mukilteo, and Edmonds remain highly livable and well-connected, with strong school districts and continued job growth pulling buyers north from Seattle and the Eastside.

If you’re a first-time buyer or a move-up family looking for more square footage and a yard, this is the market to take seriously this spring.

The Bottom Line

Markets like this one separate the prepared from the hopeful. The data is telling us three things very clearly:

1. Inventory has roughly doubled above the 10-year average across all three markets
2. Prices have softened, with the Eastside leading the correction
3. Rates are favorable compared to last year, but the window may be narrowing

For Sellers

Price ahead of the market on day one. The sellers winning in April 2026 are the ones who looked at the data, set realistic expectations, and partnered with a broker who could position their home to compete. Reductions cost time, momentum, and ultimately money.

For Buyers

This is the most leverage you’ve had in over a decade. More choices, more time to think, and rates better than last spring. Make your move with a strategy — not on emotion, and not on the assumption that prices will drop another 10%. The well-priced, well-prepared homes are still going under contract quickly.

Let’s Talk About Your Next Move

Whether you’re thinking about selling this spring, buying your next home, or simply want a clearer picture of what your equity position looks like in today’s market, Tony Meier & Team would welcome the conversation. Every situation is different, and the right strategy starts with understanding your specific goals and timeline.

You can reach us directly:

425-466-1000 tony@windermere.com EastsideHomes.com Watch monthly market updates and home tours: youtube.com/@TonyMeier

After 37 years and 786 closed sales, Tony Meier & Team has helped clients navigate every kind of market — from boom years to corrections and everything in between. The fundamentals don’t change: good information, careful preparation, and a strategy built around your goals will always outperform guessing. Let’s build that strategy together.

Tony Meier & Team is part of Windermere Real Estate / NE in Kirkland, Washington, serving the Eastside, Seattle, and Snohomish County communities.

Audio Version here:

Spring break arrived this week across the majority of King and Snohomish County school districts — the same week it fell in 2025. That context is essential for reading this week’s pending and closed sales numbers accurately. What is not seasonal is inventory, which set another 2026 high, and MOI, which crossed a threshold not seen in early spring since 2011.

WHAT’S COVERED THIS WEEK

INTEREST RATES — 6.38% | ↓ Down from last week’s 6.45% | ↓ Down 0.47% year over year

Rates edged down slightly to 6.38% — a modest improvement from last week and down 0.47% compared to this same week one year ago. While rates spiked as much as 0.65 points above pre-conflict levels, they have partially recovered and currently sit 0.39 points above where they were before the conflict began — still a meaningful headwind for buyer qualification and monthly carrying costs.

ACTIVE LISTINGS — 1,178 | ↑ Up 7.3% from last week | ↑ Up 58.5% year over year

Active listings climbed to 1,178 this week — another 2026 high, and up 58.5% from the 743 homes on the market during the same spring break week in 2025. Inventory continues to build regardless of the seasonal calendar.

PENDING SALES — 86 | ↓ Down 20.4% from last week | ↓ Down 26.5% year over year

Pending sales fell to 86 this week. Spring break is the primary driver of that weekly decline — buyer activity reliably softens when families are traveling. The more meaningful comparison is year over year: during the same spring break week in 2025, pending sales were 117. This year they came in at 86 — down 26.5% on an apples-to-apples basis. That gap reflects more than the seasonal calendar.

MONTHS OF INVENTORY — 3.16 | ↑ Up 34.7% from last week’s 2.35 | ↑ Up 115.7% year over year

At 3.16, this week’s MOI is the highest reading for this time of year — early April — in this data set since 2011. Fall and winter months have reached similar or higher levels in 2022 and 2025, but never in spring. Two factors are at work simultaneously: inventory continues to rise, and spring break suppressed pending sales, which mathematically pushes MOI higher. The underlying trend was already moving in this direction before spring break. It would be premature to characterize 3.16 as the new baseline — with several school districts still on break next week, inventory will continue to build seasonally and buyer activity will remain somewhat suppressed. A cleaner read on where April is settling will require another week or two of data. What the data does confirm is that MOI has crossed into the upper range of balanced market territory, defined locally as 2 to 4 months. During the same spring break week in 2025, MOI stood at 1.47. We are 115.7% above that today.

MEDIAN SOLD PRICE (Rolling 30-Day) — $1,579,000 | ↑ Up 1.9% from last week | ↓ Down 8.1% year over year

The 30-day rolling median ticked up modestly to $1,579,000 but remains 8.1% below the $1,718,000 recorded at this same point in 2025. The weekly closed median of $1,640,000 reflects a thin sales sample during spring break and should not be read as a trend signal on its own.

THE BIG PICTURE — WHAT THIS ALL MEANS

This week’s data requires careful interpretation. Spring break compressed buyer activity — as it always does — and that shows clearly in the pending and closed numbers. What is not a seasonal artifact is the continued climb in active inventory, now at 1,178 and up 58.5% year over year even on a spring break comparison. MOI at 3.16 is partially elevated by the seasonal pending dip, but even at last week’s non-spring-break reading of 2.35, the market was already firmly in balanced territory. With spring break continuing across several districts next week, inventory will keep building seasonally. What is confirmed today: the conditions buyers and sellers are navigating — measured by MOI — reflect more balanced market dynamics than at any point since 2011.

FOR SELLERS

With 58.5% more competition on the market than a year ago — even during spring break — pricing discipline is the single most important decision you will make. Homes priced accurately against today’s comparable sales — not 2025 peaks, and not even the partial recovery readings from January and February 2026 — are still selling well, while overpriced listings are sitting longer and often requiring reductions that erode both value and negotiating position. We have done extensive analysis on exactly what this market shift means for sellers in each Eastside sub-market — if you are considering a move, we 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 — spring — than at any point since 2011. More choices, more time to conduct proper due diligence, and more room for thoughtful negotiation than buyers have experienced in years. Well-priced homes are still moving, so arriving pre-approved and prepared remains essential — but the frantic, no-contingency environment of recent years has given way to more measured conditions where preparation and patience are rewarded.

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

Northwest Multiple Listing Service (NWMLS), the source for the most current, accurate market listing data in Washington state, today released its March 2026 Market Snapshot.

Market Recap

A continued rise in inventory, combined with renewed pressure from rising mortgage rates, defined Washington’s housing market in March as listings climbed sharply while sales remained largely unchanged.

Active listings rose 29.3% year over year to 15,049 homes, with nearly every county reporting gains and 20 of 27 counties posting double-digit increases.

Closed sales totaled 5,417 in March, up just 0.2% from a year ago, though activity picked up significantly from February with a nearly 31% month-over-month increase. The median sales price was $640,000, down 1.5% year over year but up 3.2% from February. Total sales volume reached $4.29 billion across residential and condominium transactions.

“Washington continues to mirror national trends by adding listings at a rate that is far outpacing any growth in sales,” said Steven Bourassa, director of the Washington Center for Real Estate Research. “Active listings in the NWMLS service area in March 2026 increased 29% year over year, while the number of sales remained unchanged. In a nutshell, sellers have decided that they need to get on with their lives in spite of the fact that many would be giving up low-interest-rate mortgages. However, potential purchasers cannot afford to buy.”

Bourassa added that rising global uncertainty—including the recent conflict with Iran—has pushed mortgage rates back up to 6.38% by the end of March after briefly dipping below 6% in February. The last time rates were this high was in early September 2025.

Consumer activity increased heading into the spring season, with showings up 19% and keybox accesses up 24.5% from February. However, both metrics remained below last year’s activity.

March 2026 Key Takeaways

Active Listings

• The total number of properties listed for sale increased 29.3% year over year, with 15,049 active listings on the market at the end of March 2026, compared to 11,640 at the end of March 2025. Month over month, active inventory increased 12.8%, up from 13,341 in February 2026.
• Nearly all NWMLS counties experienced year-over-year inventory growth, with 20 of 27 counties posting double-digit increases. The five counties with the largest increases were Adams (+75%), Okanogan (+58.8%), Jefferson (+53.9%), Walla Walla (+52.4%), and Snohomish (+51.8%). 

Closed Sales

• Closed sales increased by 0.2% year over year, with 5,417 transactions in March 2026 compared to 5,406 in March 2025. Month over month, sales increased by nearly 31%, up from 4,139 in February 2026.
• Year over year, closed sales increased in 14 of 27 counties, while 13 counties saw decreases.

Median Sales Price and Total Dollar Value

• The median sales price for residential homes and condominiums sold in March 2026 was $640,000, a 1.5% decrease from March 2025 ($649,999). Month over month, the median price increased 3.2% from $620,000 in February 2026.
• The counties with the highest median sales prices were San Juan ($1,075,000), King ($859,618), and Snohomish ($738,000), while the lowest were Grays Harbor and Columbia (both $325,000), Pacific ($292,500), and Ferry ($291,200). 
• The total dollar value of closed sales in March 2026 was $3.8 billion for residential homes and $490.4 million for condominiums, for a combined total of $4.29 billion.

Consumer and Broker Activity

NWMLS also tracked several indicators of consumer and broker engagement in March, showing increased buyer and broker activity going into the spring market.

• Keyboxes at listed properties were accessed 153,945 times in March 2026, a 24.5% month-over-month increase from February 2026. Year over year, keybox activity slightly decreased by 0.7% from 155,005 accesses in March 2025.
• The total number of property showings scheduled through NWMLS-provided software increased by 19% month over month, from 98,075 showings in February 2026 to 116,715 in March 2026. Year over year, showings decreased 4.4%, from 122,099 in March 2025.
• A total of 17,231 listings were eligible for the NWMLS Down Payment Resource program in March 2026, a 5.2% increase from February 2026, when 16,377 listings were eligible. Year over year, eligible listings increased by 27.1%, up from 13,552 in March 2025. Overall, 74.8% of listings in the NWMLS database qualified for down payment assistance. (This count includes all property types in the NWMLS database, including multifamily properties and manufactured homes in parks.)

There’s a natural tendency in real estate to look at recent closings and draw conclusions about where the market is headed. It’s understandable – closing data is concrete, specific, and easy to point to. But right now, it’s also misleading.

Every closing that hits the record in March and early April reflects a buyer decision made weeks or months earlier – often in mid-February or early March, when mortgage rates were roughly half a point lower than today and active inventory on the Eastside was still below 850 listings. Those closings tell us what happened. They don’t tell us what’s happening. And for anyone making a buying or selling decision in the next 60-90 days, the distinction matters.

Where We Stand Today

The Eastside residential market enters spring 2026 in a fundamentally different position than it has occupied in over a decade.

Active listings reached 1,096 in March – up 60% from 684 at the same time last year. Months of inventory (active listings divided by pending sales) stands at 2.08, which crosses the Eastside out of seller’s market territory (0-2 months) and into a balanced market (2-4 months) for the first time since 2011.

Pending sales came in at 527 for March – 15% below last year’s 623. That gap is widening: in January, pending was actually 26% above 2025 levels. By March, it had dropped to 15% below. Showings per listing have dropped from 12-18 a year ago to roughly 5-8 across most areas. Average days on market has more than doubled, from 13 days during the first half of 2025 to 30 days year to date in 2026.

These aren’t projections or opinions. They’re the current state of play.

The Scissors Effect Driving the Market

What makes this spring different from recent years is that supply and demand are moving in opposite directions at the same time.

Active listings are not only higher than 2025 – they’re accelerating. The year-over-year ratio has climbed from 1.49 in January to 1.58 in February to 1.60 in March. Each month, the gap widens.

Meanwhile, buyer activity is weakening. The pending sales ratio tells the story: 1.26 in January (26% above 2025), 1.00 in February (flat), and 0.85 in March (15% below). Supply expanding while demand contracts. That’s the scissors effect, and it’s what drives months of inventory upward regardless of what any single metric does in isolation.

What Happened Last Year From This Point Forward

2025 provides a useful reference point. On April 2, 2025, the Eastside had 674 active listings. Over the following three months, that number nearly doubled: 975 by late April, 1,240 by late May, and a peak of 1,407 in early July. Months of inventory expanded from 1.10 in March to 2.49 by August. Median prices declined from $1,710,000 in March to $1,580,000 by July – a roughly 7.5% slide through the spring and summer.

Inventory always builds through the spring. New listings consistently outpace the seasonal increase in buyer activity. The question isn’t whether inventory will grow from here – it will. The question is by how much, and whether buyer demand picks up enough to keep the ratio from widening further.

Where the Data Points for Summer 2026

We’re entering spring with inventory already 60% above where it was at this point last year. To project where the market is heading, we analyzed 19 years of Eastside residential data (2007-2025) using two complementary approaches.

The first is a seasonal template – the median monthly pattern across all 19 years, scaled to 2026’s actual Q1 levels. This represents where the market lands if the rest of the year follows normal seasonal behavior. The second is a year-over-year momentum model, which applies the current 2026-vs-2025 ratios to 2025’s known monthly trajectory. This represents where the market lands if current momentum continues.

• Seasonal template: Active listings reaching 1,300-1,400 by mid-summer, MOI in the 2.0-2.5 range
• Momentum model: Active listings reaching 2,100-2,200, MOI pushing to 3.6-3.8
• Hybrid (50/50 blend): Active listings reaching 1,700-1,800, MOI around 3.1 by August

The hybrid model backtests at roughly 15% average error in stable market years across 18 years of data. Under all three scenarios, the Eastside remains in balanced territory (2-4 MOI) through summer. Only the momentum upper bound approaches buyer’s market conditions (4+ MOI) by late summer. But the direction is consistent across every model: months of inventory expands from here, and the definition of “market value” continues to adjust.

Closing Data vs. Forward-Looking Data

This is the most important distinction for anyone trying to understand where the market is heading. Closings are a lagging indicator. They reflect decisions that have already been made, under conditions that have already changed. The forward-looking indicators – pending activity, showing volume, inventory velocity, and rate trends – are where the real signal lives.

Right now, every major forward-looking indicator points in the same direction: continued softening. Pending sales are running well below 2025 and the gap is widening month over month. Showings are down sharply. Inventory is building at 50-80 new listings per week. Rates are holding near current levels with no meaningful relief on the horizon.

The closings that will reflect today’s actual market conditions – with over 1,000 active listings, rates at current levels, and reduced showing activity – won’t appear in the data until late April and May. Based on the forward-looking indicators, those closings will likely show further softening in price per square foot and sale-to-list ratios.

What This Means for Buyers

You are entering the most favorable buying environment the Eastside has offered since 2011. Inventory levels, longer days on market, and a shift toward at-or-below-list pricing all create room to be thoughtful and strategic. You have time to evaluate, negotiate, and make informed decisions without the frantic pace of the 2021-2024 market.

That said, this is still the Eastside. Well-priced homes in desirable areas continue to sell quickly, often with competitive interest. The key is recognizing which properties represent genuine opportunity versus those that are sitting because they’re overpriced – and having an experienced broker who can tell the difference.

What This Means for Sellers

The market has changed, and the most successful sellers will be the ones who acknowledge that reality and plan accordingly. Pricing to where the market is heading – not where it has been – is the single most important decision you’ll make. Homes that hit the market well-prepared and accurately priced are still selling, many within the first week and at strong prices. But the margin for error has narrowed, and the cost of overpricing has increased significantly.

Preparation, presentation, and pricing precision aren’t just competitive advantages in this market. They’re requirements.

Looking Ahead

The most probable path forward through spring and summer: inventory continues to build, months of inventory pushes higher, and the definition of “market value” continues to adjust. Based on the hybrid model, expect MOI to reach the upper half of balanced territory – roughly 3.0 to 3.2 – by August, with median prices settling in the $1.40M-$1.50M range.

This isn’t a crash, and it isn’t cause for alarm. It’s a recalibration – the market finding its footing after an extended period of unusually strong seller conditions. But it does require a different approach from both buyers and sellers, and a clear-eyed understanding of what the data is actually telling us.

Tony Meier has 37 years of experience and 785 closed residential sales focused on the Eastside, including 208 sales in the English Hill neighborhood of Redmond – more than any other broker, team, or real estate company serving the English Hill Area. Reach Tony at 425-466-1000 or visit EastsideHomes.com.

Here’s what I’m seeing across my core markets of Bellevue, Redmond, Kirkland, Woodinville, Sammamish, Issaquah, and Bothell.

Inventory Is the Defining Story

Active residential listings across the Eastside reached 1,096 in March – up 60% from 684 at the same time last year. Months of inventory (active listings divided by pending sales) has climbed to 2.08, nearly double the 1.10 from March 2025. That’s significant: we’ve crossed out of seller’s market territory (0-2 months) and into a balanced market (2-4 months) for the first time since early 2023.

The inventory build has been steady and broad-based. Every Eastside sub-market is carrying more active listings than a year ago, with some areas seeing their available homes nearly double.

Prices Have Softened – But the Story Varies by Location

The Eastside residential median came in at $1,550,000 in March, down 9.4% from $1,710,000 last March. Price per square foot across the Eastside is averaging $626 year to date, compared to $663 during the first half of 2025 – a decline of roughly 5-6%.

That said, the pressure is not evenly distributed. The Juanita and Woodinville corridor (NWMLS Area 600) has shown more resilience, with median prices down just 1.2% year over year and recent closings printing at $606 per square foot – a noticeable improvement from the $570 range late last year. Sammamish and parts of Redmond have seen steeper adjustments, with some pockets down 10-12% from their 2025 peaks.

Buyer Activity Has Slowed

Pending sales across the Eastside were down 15% in March compared to last year (527 vs. 623). Showings per listing have dropped from the 12-18 range in early 2025 to roughly 5-8 across most areas. Average days on market has more than doubled – from 13 days during the first half of 2025 to 30 days so far in 2026.

The sale price to list price ratio reflects this shift. A year ago, most Eastside areas were consistently seeing homes sell at 101-104% of list price. Today that number sits at 99-101%, meaning the competitive overbidding dynamic has largely faded.

What This Means for Sellers

Pricing accuracy has never been more important. Homes that are well-prepared, correctly priced, and strategically marketed are still moving – many within the first two weeks. But the margin for error has narrowed considerably. Overpriced properties are sitting, and the data shows 27% of closings this year had 60 or more days on market. That’s a very different environment from 12 months ago.

What This Means for Buyers

You have more options, more time, and more leverage than at any point since early 2023. Inventory levels, longer days on market, and a shift toward at-or-below-list pricing all create room to be thoughtful and strategic. That said, this is still the Eastside – well-priced homes in desirable areas are generating strong interest. The key is recognizing which properties represent genuine opportunity versus those that are sitting for a reason.

Looking Ahead

It’s tempting to look at recent closing data and see encouraging signs – price per square foot, days on market, and sale-to-list ratios all improved in the last two weeks of March. But closings are a lagging indicator. Those transactions reflect buyer decisions made in mid-February and early March, when mortgage rates were roughly half a point lower and active inventory was still below 850 listings. They’re a snapshot of a market that has already passed.

The forward-looking indicators – weekly pending activity, showings per listing, and the pace of inventory growth – all point toward continued softening through spring and into summer. Months of inventory at 2.08 is the highest level the Eastside has seen since 2011, and the gap between active listings and pending sales continues to widen. The closings that will reflect today’s market conditions won’t appear in the data until late April and May.

What I can say with confidence: this market rewards preparation, accurate pricing, and deep local knowledge. The days of “list it and let the market do the work” are behind us – at least for now.

Tony Meier has 37 years of experience and 785 closed residential sales, including 208 sales in the English Hill neighborhood of Redmond – more than any other broker, team, or real estate company. Reach Tony at 425-466-1000 or visit EastsideHomes.com.

4 Min. Read.

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A Record Month Closes — What the Data Shows Heading Into April | Seattle’s Eastside Real Estate Update 04-01-26

Tony Meier | Windermere Real Estate | 37 Years Experience | 784 Closed Eastside Sales

Last week we flagged three market milestones arriving simultaneously. This week, the March data closed — and the record we signaled is now official. Here is what the data shows as we head into April.

WHAT’S COVERED THIS WEEK

INTEREST RATES — 6.45% | ↓ Slight dip from last week | Still up ~0.49% since the Iran conflict began

Rates pulled back just slightly this week — from 6.48% to 6.45% — offering a modest reprieve but no meaningful shift in buyer affordability. The cumulative damage from the nearly half-point spike since the onset of the Iran conflict remains intact. On a $1.5M home, buyers are still carrying roughly $450–$500 more per month than they were in late February. Year over year, rates are down 0.26% — a tailwind that exists on paper but is being overshadowed by the near-term spike.

ACTIVE LISTINGS — 1,098 | ↑ Up 6.7% from last week | ↑ Up 63% year over year

Inventory added another 69 homes in a single week — a significant weekly gain that pushes active listings to levels the Eastside typically doesn’t see until midsummer. Last week we noted we had crossed the 10-year July peak average of 1,027. We are now 7% above it and climbing. For context, at this same point in 2025, there were 674 active listings. We are running 63% above that today, with no indication the pace of new listings is slowing.

PENDING SALES — 108 | Essentially flat from last week | ↓ Down 10.7% year over year

Pending sales ticked up by just one from last week’s 107 — effectively unchanged — and continue to run nearly 11% below where they were at this time last year. Supply is surging while demand growth has stalled. That combination is what drives MOI higher and is the defining dynamic of this market right now.

MONTHS OF INVENTORY — 2.35 | ↑ Up 5.7% from last week’s 2.22 | ↑ Up 82.5% year over year

The March record is now official — the highest March MOI since 2011, confirmed across 20 years of data. March 2011 recorded 3.35 months; every March from 2012 through 2025 came in below 2.0. This week’s first April reading comes in at 2.35. We are now solidly in balanced market territory — defined locally as 2 to 4 months. A year ago at this time, MOI stood at 1.29. We are 82.5% above that today.

MEDIAN SOLD PRICE (Rolling 30-Day) — $1,550,000 | ↓ Down ~1% from last week | ↓ Down 9.5% year over year

The 30-day median continues to ease. At $1,550,000 it remains well off the $1,697,500 recorded at this time in 2025. Near-term prices are not collapsing — accurately priced, well-prepared homes are still transacting — but the sustained year-over-year gap is a clear signal that the pricing environment of 2025 is not the benchmark sellers should be working from today.

THE BIG PICTURE — WHAT THIS ALL MEANS

The story this week is one of confirmation. The three milestones we documented last week have not softened — they have deepened:

1. The March MOI record is now locked in — the highest March MOI since 2011, with this week’s first April reading coming in at 2.35.

2. Inventory at 1,098 is 63% above last year — we are in midsummer supply conditions during the first week of April.

3. Buyers remain active, and the expanded inventory is giving them more options than they have had in years — pending sales are essentially flat week over week and down nearly 11% year over year, with rates still elevated from the Iran conflict spike.

None of this means the market has stopped working. Well-priced homes with strong preparation are still selling. But the margin for strategic error — on pricing, timing, and presentation — has narrowed considerably compared to anything sellers experienced in 2023, 2024, or early 2025.

With 37 years of experience navigating every cycle this region has produced, I have watched data like this arrive quietly before most people feel it. The buyers and sellers who act on accurate information now will be better positioned than those who wait for the broader consensus to catch up.

FOR SELLERS

With 63% more competition on the market than a year ago, pricing discipline is the single most important decision you will make. Homes priced accurately against today’s comparable sales — not 2025 peaks, and not even the partial recovery readings from January and February 2026 — are still selling well, while overpriced listings are sitting longer and often requiring reductions that erode both value and negotiating position. We have done extensive analysis on exactly what this market shift means for sellers in each Eastside sub-market — if you are considering a move, we would welcome the opportunity to walk you through what the data shows for your specific area and home.

FOR BUYERS

This is the most inventory-rich spring market the Eastside has seen in over a decade, and that works in your favor. More choices, more time to conduct proper due diligence, and more room for thoughtful negotiation than buyers have had in years. Well-priced homes are still moving, so arriving pre-approved and prepared remains essential — but the frantic, no-contingency environment of recent years has given way to more measured conditions where preparation and patience are rewarded.

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

We are testing out a new delivery method this week in audio format. 

Northwest Multiple Listing Service (NWMLS), the source for the most current, accurate market listing data in Washington state, today released its February 2026 Market Snapshot.

Market Recap

Inventory continued to expand across the region in February, providing buyers with significantly more options than a year ago. Active listings increased nearly 28% year over year to 13,341 properties, with 19 of 27 counties posting double-digit gains. Compared to January, inventory rose 7.8%, signaling continued seller participation heading into the spring market.

Closed sales totaled 4,139 transactions, down 3% from February 2025 but up 19.5% from January. The median sales price for residential homes and condominiums reached $620,000, down 1.6% from last year while rising 4.2% compared to the prior month.

“The good news is that mortgage interest rates dropped below 6% at the end of February, for the first time since September 2022,” said Steven Bourassa, director of the Washington Center for Real Estate Research. “The lower interest rates have not yet led to increased sales on a year-over-year basis, with the number of transactions declining 3% and prices down relative to February 2025. Listings continue to increase year over year, up 28%, as sellers decide to move on with their lives rather than wait for better market conditions. Compared to January, however, listings, sales, and prices were all up.”

Broker and buyer activity reflected steady engagement. Keybox activity increased 6.9% from both a year ago and the prior month, while property showings held relatively steady compared to January. Additionally, 76% of listings in the NWMLS database qualified for down payment assistance programs, expanding opportunities for buyers across the region.

February 2026 Key Takeaways

Active Listings

• The total number of properties listed for sale increased nearly 28% year over year, with 13,341 active listings on the market at the end of February 2026, compared to 10,448 at the end of February 2025. Month over month, active inventory increased by 7.8%, up from 12,376 in January 2026.
• Nearly all NWMLS counties experienced year-over-year inventory growth, with 19 of 27 counties posting double-digit increases. The five counties with the largest increases were Jefferson (+70.3%), Adams (+69%), Walla Walla (+56.1%), Snohomish (+50.2%), and Clallam (+45.6%).

Closed Sales

• Closed sales decreased 3% year over year, with 4,139 sales in February 2026 compared to 4,268 in February 2025. Month over month, sales increased 19.5%, up from 3,465 in January 2026.
• Year-over-year closed sales increased in 14 of 27 counties, while 12 counties saw decreases and one county (Cowlitz) reported no change.

Median Sales Price and Total Dollar Value

• The median sales price for residential homes and condominiums sold in February 2026 was $620,000, a 1.6% decrease from February 2025 ($630,000). Month over month, the median price increased 4.2% from $595,000 in January 2026.
• The counties with the highest median sales prices were King ($840,000), San Juan ($732,500), and Snohomish ($720,000), while the lowest median prices were recorded in Pacific ($300,000), Columbia ($247,000), and Ferry ($215,000).
• The total dollar value of closed sales in February 2026 was $2.79 billion for residential homes and $362.7 million for condominiums, for a combined total of $3.15 billion.

Consumer and Broker Activity

NWMLS also tracked several indicators of consumer and broker engagement in February, suggesting increased buyer and broker activity going into the spring market.

• Keyboxes at listed properties were accessed 123,621 times in February 2026, a 6.93% increase from February 2025. Month over month, keybox activity also increased 6.86% from 115,685 accesses in January 2026.
• The total number of property showings scheduled through NWMLS-provided software increased by 0.8% year-over-year, from 97,256 showings in February 2025 to 98,075 in February 2026. Month over month, showings stayed about the same, from 98,210 in January 2026.
• A total of 16,377 listings were eligible for the NWMLS Down Payment Resource program in February 2026, a 21% increase from February 2025, when 13,537 listings were eligible. Month over month, eligible listings increased by 9.1%, up from 15,007 in January 2026. Overall, 76% of listings in the NWMLS database qualified for down payment assistance. (This count includes all property types in the NWMLS database, including multifamily properties and manufactured homes in parks.)

Northwest Multiple Listing Service (NWMLS), the source for the most current, accurate market listing data in Washington state, today released its January 2026 Market Snapshot.

Market Recap

January housing market data shows a continuation of recent trends, with growing inventory outpacing buyer demand across much of Washington state. Active listings increased nearly 21% year over year, while closed sales declined 7% and median prices fell 3%.

“Substantial year-over-year growth in active listings continues to be accompanied by much slower, even negative growth in sales and median prices,” said Steven Bourassa, director of the Washington Center for Real Estate Research at the University of Washington.

Compared to December, inventory rose nearly 6% in January, while closed sales dropped 31% and median prices declined about 3%. The data suggests more homeowners are willing to sell, while affordability constraints continue to limit buyer participation.

Consumer and broker activity rebounded strongly from December, signaling early momentum as the market begins to transition toward the spring selling season. Mortgage interest rates also continued a gradual downward trend, ending January at 6.10%, compared to 6.15% at the end of December. Rates have reached similarly low levels only twice since the run-up in 2022—briefly in February 2023 and again in September 2024—when rates dipped temporarily before rising again. This time could be different, as the rate decline has continued over a longer period, suggesting that it might be more sustainable.

January 2026 Key Takeaways

Active Listings

• The total number of properties listed for sale increased 20.9% year over year, with 12,376 active listings on the market at the end of January 2026, compared to 10,241 at the end of January 2025. Month over month, active inventory increased by 5.6%, up from 11,718 in December 2025.
• Nearly all NWMLS counties experienced year-over-year inventory growth, with 16 of 27 counties posting double-digit increases. The counties with the largest increases were Jefferson (+59.5%), Walla Walla (+58.6%), Thurston (+50.8%), Okanogan (+36.4%), Adams (+36.4%), and Clallam (+35.3%).

Closed Sales

• Closed sales decreased 7% year over year, with 3,465 transactions in January 2026 compared to 3,727 in January 2025. Month over month, sales decreased 30.8% from 5,010 in December 2025.
• Year-over-year closed sales decreased in 16 of 27 counties, while ten counties saw increases and one county (Ferry) reported no change.

Median Sales Price and Total Dollar Value

• The median sales price for residential homes and condominiums sold in January 2026 was $595,000, down 3.25% from January 2025 ($615,000). Month over month, the median price declined 2.8% from $612,250 in December 2025.
• The counties with the highest median sales prices were San Juan ($969,000), King ($770,000), and Snohomish ($678,500), while the lowest median prices were recorded in Columbia ($265,000), Okanogan ($330,000), and Grant ($339,900).
• The total dollar value of closed sales in January 2026 was $2.26 billion for residential homes and $290.2 million for condominiums, for a combined total of $2.55 billion.

Consumer and Broker Activity

NWMLS also tracked several indicators of consumer and broker engagement in January, suggesting renewed buyer and broker activity following the typical year-end slowdown.

• Keyboxes at listed properties were accessed 115,685 times in January 2026, a 0.2% decrease from January 2025. Month over month, keybox activity increased 38% from 83,845 accesses in December 2025.
• The total number of property showings scheduled through NWMLS-provided software decreased 1.8% year-over-year, from 99,979 showings in January 2025 to 98,210 in January 2026. Month over month, showings surged 58.2% from 62,096 in December 2025.
• A total of 15,007 listings were eligible for the NWMLS Down Payment Resource program in January 2026, a 17.4% increase from January 2025. Overall, 77.3% of listings in the NWMLS database qualified for down payment assistance. (This count includes all property types in the NWMLS database, including multifamily properties and manufactured homes in parks.)

Northwest Multiple Listing Service (NWMLS), the source for the most current, accurate market listing data in Washington state, today released its December 2025 Market Snapshot.

Market Recap

The housing market in December closely mirrored conditions seen in October and November, continuing a pattern of rising inventory and softening prices. Active listings increased 23% year over year, while prices declined by approximately 2% for the third consecutive month compared to the same period in 2024. Closed sales rose just 4% from December 2024, indicating that buyer activity has not kept pace with the increasing inventory.

“Although 30-year mortgage interest rates ended 2025 at their lowest point for the year (6.15%), buyers continued to face significant affordability constraints,” said Steven Bourassa, Director of the Washington Center for Real Estate Research at the University of Washington.

December 2025 Key Takeaways

Active Listings

• The total number of properties listed for sale increased 23% year over year, with 11,718 active listings on the market at the end of December 2025, compared to 9,524 at the end of December 2024. Month over month, active inventory declined by 24.7% (3,839 listings), down from 15,557 in November 2025.
• Nearly all NWMLS counties experienced year-over-year inventory growth, with 19 of 27 counties posting double-digit increases. The counties with the largest increases were Jefferson (+55.7%), Ferry (+54.6%), Thurston (+54.4%), Clallam (+44%), Okanogan (+39.5%) and Walla Walla (+38%).

Closed Sales

• Closed sales increased 4.1% year over year, with 5,010 transactions in December 2025 compared to 4,812 in December 2024. Month over month, sales rose 2.9% from 4,870 in November 2025.
• Year-over-year closed sales increased in 21 of 27 counties, while five counties saw declines and one county (Kittitas) reported no change.

Median Sales Price and Total Dollar Value

• The median sales price for residential homes and condominiums sold in December 2025 was $612,250, down 1.8% from December 2024 ($623,500). Month over month, the median price declined 2.8% from $630,000 in November 2025.
• The counties with the highest median sales prices were San Juan ($900,000), King ($808,500), and Snohomish ($730,000), while the lowest median prices were recorded in Columbia ($237,500), Okanogan ($300,000), and Pacific ($365,000).
• The total dollar value of closed sales in December 2025 was $3.43 billion for residential homes and $394.6 million for condominiums, for a combined total of $3.83 billion.

Consumer and Broker Activity

NWMLS also tracked several indicators of consumer and broker engagement in December:

• Keyboxes at listed properties were accessed 83,845 times in December 2025, a 1.4% increase from December 2024. Month over month, keybox activity declined 29.2% from 118,500 accesses in November 2025.
• The total number of property showings scheduled through NWMLS-provided software decreased 2.4% year-over-year, from 63,610 showings in December 2024 to 62,096 in December 2025. Month over month, showings declined 27.6% from 85,729 in November 2025.
• A total of 13,911 listings were eligible for the NWMLS Down Payment Resource program in December 2025, a 22.2% increase from December 2024. Overall, 76.9% of listings in the NWMLS database qualified for down payment assistance.

Northwest Multiple Listing Service (NWMLS), the source for the most current, accurate market listing data in Washington state, today released its October 2025 Market Snapshot.

Market Recap

Mortgage interest rates continued to trend lower in October, ending the month at 6.17% for 30-year fixed-rate loans, the lowest level since early October 2024. Across NWMLS counties, the number of sales and median prices fell year-over-year by 4% and 1.5%, respectively, while active listings jumped 27%, giving buyers more options in the market despite ongoing affordability challenges. Compared to September, both sales and median prices increased modestly, by about 1% and 1.5%, following declines in the previous month.

“The year-over-year numbers suggest that potential buyers continue to be constrained by high interest rates. While it might be tempting, it would be overreaching to attribute the latest month-over-month changes to lower interest rates. One month of data does not constitute a trend, and it is very difficult to predict whether the current moderating trend will continue,” said Steven Bourassa, Director of the Washington Center for Real Estate Research at the University of Washington.

October 2025 Key Takeaways

Active Listings

• There was a 27% increase in the total number of properties listed for sale year-over-year, with 18,791 active listings on the market at the end of October 2025, compared to 14,795 at the end of October 2024. When compared to the previous month, active inventory decreased by 1,261 listings (-6.3%), down from 20,052 in September 2025.
• The number of homes for sale year-over-year increased in all of NWMLS’s coverage area, with 24 out of 27 counties seeing a double-digit year-over-year increase. The six counties with the highest year-over-year increases in active inventory for sale were Thurston (+49%), Snohomish (+42.2%), Jefferson (+37.4%), Clallam (+37.2%), Ferry (+35.7%), and Okanogan (+34%).

Closed Sales

• The number of closed sales decreased by 4% year-over-year (6,222 in October 2025 compared to 6,479 in October 2024). When compared to the previous month, the number of closed sales increased slightly by .8%, up from 6,170 sales in September 2025.
• 16 out of 27 counties saw a decrease in the number of closed sales year-over-year, while 10 saw an increase, and 1 showed no change (Wahkiakum). The six counties with the largest increases were Grays Harbor (+44.3%), Chelan (+30.7%), Kittitas (+26.1%), Grant (+24.3%), Clallam (+19.8%), and Douglas (+13.5%).

Median Sales Price and Total Dollar Value

• The median sales price for residential homes and condominiums sold in October 2025 was $640,000 — a decrease of 1.5% when compared to October 2024 ($650,000). Compared to the previous month, the median price increased by 1.5% ($630,700 in September 2025).
• The three counties with the highest median sale prices were King ($887,300), San Juan ($764,750), and Snohomish ($739,500), and the three counties with the lowest median sale prices were Ferry ($219,900), Columbia ($242,498), and Pacific ($315,000).
• The total dollar value of closed sales in October 2025 for residential homes was $4,646,829,146 and was $490,930,169 for condominiums ($5,137,759,315 in total).

Consumer and Broker Activity

NWMLS also provided insights into consumer activities during the month of October 2025:

• Keyboxes located at listed properties were accessed 145,459 times in October 2025, a 9.9% decrease from September 2025 when they were accessed 161,356 times. Keybox activity decreased slightly year-over-year by .8%, with keyboxes being accessed 146,608 times in October 2024.
• The total number of property showings scheduled through NWMLS-provided software decreased 11.2% from 120,489 in September 2025 to 106,980 in October 2025. This was a year-over-year increase of 3.4% from the number of showings in October 2024 (110,736).
• In October 2025, there were 20,646 listed properties that were eligible for the Down Payment Resource program offered by NWMLS, a 1.6% decrease from 20,979 in September 2025. This was a 21.1% year-over-year increase from 17,049 eligible listings in October 2024. 73.9% of listings in the NWMLS database were eligible for down payment program assistance.

Published on: October 6, 2025

Northwest Multiple Listing Service (NWMLS), the source for the most current, accurate market listing data in Washington state, today released its September 2025 Market Snapshot.

Market Recap

Inventory is climbing, giving buyers more options, while home prices are showing signs of moderation after years of rapid growth. The median sales price in September dipped 0.7% year-over-year, from $635,000 to $630,700, and fell 3% month-over-month from August’s $650,000. Similar month-over-month declines were seen in King, Snohomish, and Pierce counties. Interest rates have declined slightly, but not enough to significantly impact the market.

“House prices in the NWMLS service area have generally been sluggish in response to high interest rates,” said Steven Bourassa, Director of the Washington Center for Real Estate Research at the University of Washington. “Initially, high interest rates discouraged both sellers and buyers, but in recent months, sellers have been listing properties at a faster rate than buyers have been purchasing them. To some extent, these changes may reflect typical seasonal fluctuations, but at some point the laws of supply and demand may prevail, and prices may lose some of their stickiness.”

September 2025 Key Takeaways

Active Listings

• There was a 27.3% increase in total number of properties listed for sale year-over-year, with 20,052 active listings on the market at the end of September 2025, compared to 15,748 at the end of September 2024. When compared to the previous month, active inventory decreased by 167 listings (-0.8%), down from 20,219in August 2025.
• The number of homes for sale year-over-year increased in most of NWMLS’s coverage area, with 23 out of 27 counties seeing a double-digit year-over-year increase. The six counties with highest year-over-year increases in active inventory for sale were Ferry (+61.5%), Thurston (+48.1%), Island (+45.7%), Snohomish (+41.7%), Walla Walla (+40.5%), and Columbia (+40%).

Closed Sales

• The number of closed sales increased by 5.9% year-over-year (6,170 in September 2025 compared to 5,828 in September 2024). When compared to the previous month, the number of closed sales decreased by 2.7%, down from 6,341 sales in August 2025.
• 19 out of 27 counties saw an increase in the number of closed sales year-over-year, while 5 saw a decrease, and 3 showed no change. The six counties with the largest increases were Lewis (+68.2%), Okanogan (+48.2%), Cowlitz (+46.8%), Island (+39.4%), Douglas (+27.3%), and Clallam (+24.4%). The total dollar value of closed sales in September 2025 for residential homes was $4,427,282,546 and was $477,418,943 for condominiums ($4,904,701,489 in total).

Median Sales Price and Total Dollar Value

• The median sales price for residential homes and condominiums sold in September 2025 was $630,700 — a slight decrease of 0.7% when compared to September 2024 ($635,000). Compared to the previous month, the median price decreased by 3% ($650,000 in August 2025).
• The three counties with the highest median sale prices were San Juan ($1,050,000), King ($850,000), and Snohomish ($722,525), and the three counties with the lowest median sale prices were Columbia ($290,000), Pacific ($330,000), and Ferry ($335,000).
• The total dollar value of closed sales in September 2025 for residential homes was $4,427,282,546 and was $477,418,943 for condominiums ($4,904,701,489 in total).

“Seattle’s housing market is continuing to rebalance following large swings in prices and demand in the last few years,” said Selma Hepp, Chief Economist at Cotality. “Improved affordability is certainly helping attract home buyers – especially for mid-range and tech-enhanced homes, that are now facing less competition than in the years prior. Home prices are expected to move sideways and pick up again in early 2026 with the spring home buying market, though overall rate of appreciation will be slower as buyers’ incomes catch up and affordability remains the top concern.”

Consumer and Broker Activity

NWMLS also provided insights into consumer activities during the month of September 2025:

• Keyboxes located at listed properties were accessed 161,356 times in September 2025, a 2% decrease from August 2025 when they were accessed 164,711 times. Keybox activity increased year-over-year by 2.3%, with keyboxes being accessed 157,756 times in September 2024.
• The total number of property showings scheduled through NWMLS-provided software decreased 1.7% from 122,534 in August 2025 to 120,489 in September 2025. This was a year-over-year increase of 0.5% from the number of showings in September 2024 (119,900).
• In September 2025, there were 20,979 listed properties that were eligible for the Down Payment Resource program offered by NWMLS, a 5.3% decrease from 22,163 in August 2025. This was a 25.7% year-over-year increase from 16,688 eligible listings in September 2024. 72.9% of listings in the NWMLS database were eligible for down payment program assistance.

Published on: September 4, 2025

Northwest Multiple Listing Service (NWMLS), the source for the most current, accurate market listing data in Washington state, today released its Market Snapshot for August 2025.

Market Recap

In August, both active listings and home sales declined compared to July—by 2.7% and 7.7%, respectively—across the 27 counties in the NWMLS coverage area. This slowdown was largely driven by weaker activity in King and Snohomish counties. Compared to the same time last year, listings rose by 30.8%, but sales fell by 5.7%, indicating continued stagnant buyer demand. Median home prices remained flat month-over-month and increased just .8% year-over-year.

August 2025 Key Takeaways

Active Listings

• There was a 30.8% increase in total number of properties listed for sale year-over-year, with 20,219 active listings on the market at the end of August 2025, compared to 15,453 at the end of August 2024. When compared to the previous month, active inventory decreased by 562 listings (-2.7%), down from 20,781 in July 2025.
• The number of homes for sale year-over-year increased throughout the NWMLS coverage area, with 25 out of 27 counties seeing a double-digit year-over-year increase. The six counties with highest year-over-year increases in active inventory for sale were Ferry (+63%), Snohomish (+50.1%), Jefferson (+47.3%), Clallam (+46.3%), Columbia (+45.8%), and Thurston (+38.9%).

Closed Sales

• The number of closed sales decreased by 5.7% year-over-year (6,341 in August 2025 compared to 6,727 in August 2024). When compared to the previous month, the number of closed sales decreased by 7.7%, down from 6,867 sales in July 2025.
• 15 out of 27 counties saw a decrease in the number of closed sales year-over-year, while 9 saw an increase, and 3 showed no change. The six counties with the largest increases were Clallam (+16.3%), Okanogan (+16.1%), Grant (+11.5%), Lewis (+8.3%), Island (+7.9%), and Douglas (+5.1%).

Median Sales Price and Total Dollar Value

• The median sales price for residential homes and condominiums sold in August 2025 was $650,000 — a slight increase of .8% when compared to August 2024 ($645,000). Compared to the previous month, the median price remained unchanged ($650,000 in July 2025).
• The three counties with the highest median sale prices were San Juan ($1,050,000), King ($875,000), and Snohomish ($755,000), and the three counties with the lowest median sale prices were Ferry ($250,000), Columbia ($319,000), and Grays Harbor ($323,500).
• The total dollar value of closed sales in August 2025 for residential homes was $4,669,643,977 and was $495,173,759 for condominiums ($5,164,817,736 in total).

“Interest rates for 30-year fixed-rate mortgages declined early in the month, from 6.72% at the end of July to 6.63% a week later, but have dropped relatively slowly since then, ending the month at 6.56%,” said Steven Bourassa, Director of the Washington Center for Real Estate Research at the University of Washington. “Pressure on the Federal Reserve Bank to lower its overnight federal funds rate is expected to result in cuts later this year, but it is unclear that such cuts will lead to significant changes in long-term rates, such as for mortgages.”

Consumer and Broker Activity

NWMLS also provided insights into consumer activities during the month of August 2025:

• Keyboxes located at listed properties were accessed 164,711 times in August 2025, a 2.4% decrease from July 2025 when they were accessed 168,801 times. Keybox activity increased year-over-year by 3.4%, with keyboxes being accessed 159,239 times in August 2024.
• The total number of property showings scheduled through NWMLS-provided software decreased 2.9% from 126,250 in July 2025 to 122,534 in August 2025. This was a year-over-year increase of 2.2% from the number of showings in August 2024 (119,927).
• In August 2025, there were 22,163 listed properties that were eligible for the Down Payment Resource program offered by NWMLS, a 2.2% increase from 21,687 in July 2025. This was a 22.9% year-over-year increase from 18,028 eligible listings in August 2024. 72.9% of listings in the NWMLS database were eligible for down payment program assistance

DAYS ON MARKET

❱ It took an average of 32 days for homes to sell in the third quarter of 2023. This was 8 more days than in the same quarter of 2022, but 3 fewer days compared to the second quarter of this year.

❱ Snohomish and King counties were the tightest markets in Western Washington, with homes taking an average of only 19 days to find a buyer. Homes for sale in San Juan County took the longest time to find a buyer (57 days).z

❱ All counties except Snohomish saw average days on market rise from the same period in 2022. Market time fell in 9 of the 14 counties compared to the prior quarter.

❱ The greatest fall in market time compared to the second quarter was in San Juan County, where market time fell 23 days.

CONCOLUSIONS

Although it was good that listing activity rose in the third quarter, it still remains well below levels that can be considered normal. This is unlikely to change anytime soon given that over 86% of Washington homeowners with mortgages have an interest rate below 5% and more than a quarter have rates at or below 3%. There is little incentive for them to sell if they don’t have to. More germane to me is the disconnect between what homeowners believe their homes are worth and what buyers can afford with mortgage rates in the mid-7% range. Most sellers appear to be getting their asking prices, or very close to it, which reflects their confidence in the market. However, home buyers are being squeezed by multi-decade high borrowing costs. It is all quite a quandary. However, taking all the factors into consideration, sellers still have the upper hand but not enough to move the needle from the position I put it in last quarter.

ABOUT MATTHEW GARDNER

Bottom Line

Have Buyer’s Choices Peaked for 2023? Eastside Housing Market Update 8-2-2023

Have home buyers in the Eastside reached the zenith of their options for 2023? In this video, Tony Meier, a seasoned real estate expert with 34 years of experience at Windermere Real Estate, examines this query and provides an insightful update on the Eastside real estate market.

Join Tony as he delves into five vital topics:

1. Interest Rates: Learn how the current interest rates are influencing the Eastside housing market and affecting both buyer activity and affordability.

2. Active Listings: Gain insights into the number of active listings and what this implies for the supply-demand dynamics in the market.

3. Pending Sales: Understand the recent fluctuations in pending sales and what these indicate about the market’s momentum and potential future sales trends.

4. Months of Inventory: Get an up-to-date view of the months of inventory, a critical indicator of market balance, which can guide your real estate decisions.

5. Closed Sales Price: Review the recent closed sales prices and their trends, providing a clear picture of the market’s pricing direction.

Whether you’re a home buyer, a seller, or a market observer, this video is packed with valuable insights to help you navigate the Eastside real estate landscape. Don’t forget to subscribe to our channel for more thorough real estate market updates from Tony Meier and the Windermere Real Estate team.

If you have any questions while navigating your real estate journey, we’re here to help! Tony Meier & Team – Windermere

Housing’s Recession Already Happened! Eastside Real Estate Market Update 7-26-2023

In this eye-opening market update, Tony Meier, a real estate veteran with 34 years of experience at Windermere Real Estate, breaks down the recent events in the Eastside housing market and discusses why he believes the ‘housing recession’ has already happened. 

Link to Wall Street Journal Article mentioned: https://www.wsj.com/articles/housings-recession-already-happened-26bbb505

In this detailed analysis, Tony delves into five key areas:

1. Interest Rates: Learn how the current interest rates are influencing the Eastside housing market and affecting both buyer activity and affordability.

2. Active Listings: Gain insights into the number of active listings and what this implies for the supply-demand dynamics in the market.

3. Pending Sales: Understand the recent fluctuations in pending sales and what these indicate about the market’s momentum and potential future sales trends.

4. Months of Inventory: Get an up-to-date view of the months of inventory, a critical indicator of market balance, which can guide your real estate decisions.

5. Closed Sales Price: Review the recent closed sales prices and their trends, providing a clear picture of the market’s pricing direction.

Whether you’re a home buyer, a seller, or a market observer, this video is packed with valuable insights to help you navigate the Eastside real estate landscape. Don’t forget to subscribe to our channel for more thorough real estate market updates from Tony Meier and the Windermere Real Estate team.

If you have any questions while navigating your real estate journey, we’re here to help! Tony Meier & Team – Windermere

In this insightful video, Tony takes us through the most recent market statistics, revealing the driving forces behind the surge in demand and the scarcity of available homes. With his years of expertise and unparalleled knowledge of the Eastside, Tony provides valuable insights into the current state of the market and offers predictions on where it might be heading in the near future.

Hey there! If you have any questions while navigating your real estate journey, we’re here to help! Tony Meier & Team – Windermere

Connect with us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
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LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To support your decision-making process with data-driven information, valuable insights, and 34 years of real estate expertise. We treat our clients like family, ensuring a smooth experience and the best possible outcomes at every step. We’re not just here for the transaction, but as a reliable resource for you and your referrals, now and in the future.

If you need assistance or know someone who does, give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

This video is hosted by Tony Meier, a highly experienced real estate professional with 34 years of experience at Windermere Real Estate.

In this video, Tony will provide a comprehensive update on the current state of the real estate market on Seattle’s Eastside. The main topic of discussion will be the low inventory of homes for sale and how it is leading to higher prices in the area. Tony will share his insights on this trend, and offer tips and advice for buyers and sellers navigating the current market.

Throughout the video, viewers will be presented with informative graphics and statistics to help them better understand the state of the market. Tony’s expertise and experience will provide valuable insights into the local real estate market, making this video a must-watch for anyone interested in buying or selling a home on Seattle’s Eastside.

If you’re curious about the current state of the Eastside’s real estate market and want to stay up-to-date on the latest trends and developments, this video is for you. So sit back, relax, and tune in to “Low Inventory = Higher Prices! Seattle’s Eastside Real Estate Update for April 19th, 2023” with Tony Meier.

Hey there! If you have any questions while navigating your real estate journey, we’re here to help! Tony Meier & Team – Windermere

Connect with us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.windermere
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To support your decision-making process with data-driven information, valuable insights, and 34 years of real estate expertise. We treat our clients like family, ensuring a smooth experience and the best possible outcomes at every step. We’re not just here for the transaction, but as a reliable resource for you and your referrals, now and in the future.

If you need assistance or know someone who does, give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

In this video, I’m sharing with you an Eastside real estate update for April 12th, 2023. After a long winter, the market seems to be on the rebound and moving in an upward direction. If you’re looking to buy or sell property in Seattle, be sure to watch this video to see what’s happening on the Eastside!

Hey there! If you have any questions while navigating your real estate journey, we’re here to help! Tony Meier & Team – Windermere Connect with us online at:

Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.w…
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To support your decision-making process with data-driven information, valuable insights, and 34 years of real estate expertise. We treat our clients like family, ensuring a smooth experience and the best possible outcomes at every step. We’re not just here for the transaction, but as a reliable resource for you and your referrals, now and in the future.
If you need assistance or know someone who does, give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

Join real estate expert Tony Meier in this exciting update on the Eastside, Seattle, and Snohomish County real estate market for April 2023. In this comprehensive video, Tony breaks down the latest trends and provides valuable insights into the current market conditions, including improving interest rates, increasing prices, and overall market stabilization.

Key highlights of the video:

1. Overview of the Eastside, Seattle, and Snohomish County real estate market : Tony provides a snapshot of the local market dynamics and the factors contributing to its recent growth.

2. Interest rates are improving : Find out how the current interest rates are positively impacting the real estate market and making it an opportune time for both buyers and sellers.

3. Rebounding prices : Discover the reasons behind the increasing home prices in the region and how this trend is expected to continue in the coming months.

4. Market stabilization : Tony discusses the factors leading to market stabilization, including the balance between supply and demand, and how it’s benefiting both homebuyers and sellers.

5. Expert tips and advice : As a seasoned real estate professional, Tony shares his top tips for navigating the Eastside, Seattle, and Snohomish County market, whether you’re a first-time homebuyer, looking to sell, or an investor seeking new opportunities. Don’t miss this informative real estate update from Tony Meier, a trusted expert in the Eastside, Seattle, and Snohomish County market. Stay ahead of the curve and make informed decisions in this rapidly evolving landscape. Subscribe to our channel for more timely updates and real estate advice.

Hey there! If you have any questions while navigating your real estate journey, we’re here to help! Tony Meier & Team – Windermere

Connect with us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.windermere
LinkedIn: https://www.linkedin.com/in/tonymeier/
Our mission: To support your decision-making process with data-driven information, valuable insights, and 34 years of real estate expertise. We treat our clients like family, ensuring a smooth experience and the best possible outcomes at every step. We’re not just here for the transaction, but as a reliable resource for you and your referrals, now and in the future.

If you need assistance or know someone who does, give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

Join real estate expert Tony Meier in this in-depth market update as he dives into the latest trends and statistics of Seattle’s Eastside real estate market . With home prices continuing to rise and interest rates steadily declining , it’s an ideal time for both buyers and sellers to make their move. Tony breaks down the numbers and provides valuable insights into what’s driving this market improvement. Don’t miss this comprehensive analysis to help you make well-informed decisions in the thriving Seattle Eastside real estate market. Subscribe for more timely updates and expert advice from Tony Meier .

Hey there! If you have any questions while navigating your real estate journey, we’re here to help! Tony Meier & Team – Windermere

Connect with us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.w…
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To support your decision-making process with data-driven information, valuable insights, and 34 years of real estate expertise. We treat our clients like family, ensuring a smooth experience and the best possible outcomes at every step. We’re not just here for the transaction, but as a reliable resource for you and your referrals, now and in the future.
If you need assistance or know someone who does, give us a call at 425-466-1000!
#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

Dive into the latest trends in Seattle’s Eastside real estate market! In this comprehensive update, we explore how lower mortgage rates continue to fuel a healthy and thriving housing market. Join our expert host as he takes you through the most recent market data, including median home prices, and inventory levels.

In this video, you’ll learn:

– How the current low mortgage rates are impacting home buyers and sellers in the Eastside area.
– Detailed analysis of the latest market trends, including price appreciation and inventory levels.
– Tips for both buyers and sellers to successfully navigate this dynamic market.

Don’t miss out on this valuable information as you consider buying or selling a home in Seattle’s Eastside. Stay ahead of the curve with our insightful real estate update. Subscribe to our channel for more real estate news and advice!

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
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Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 34 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

If you’re looking to buy or sell real estate in the Eastside, don’t miss this video! I’ll be shedding light on all the latest news and updates about the Eastside real estate market, and how it’s performing. Don’t miss out!

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.w…
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 34 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

If you’re looking to buy or sell real estate in Seattle’s Eastside, now is the time to find out! This video will give you the latest information on the Eastside Real Estate Market and whether or not it’s booming or struggling. So what are you waiting for? Watch this video to find out!

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.windermere
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 34 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

Pending sales around Washington state reached the highest level since October and surged nearly 44% from December, according to the January report from Northwest Multiple Listing Service. Last month’s 5,776 mutually accepted offers were down about 9% from a year ago, but brokers seemed encouraged by the “favorable spike.”

Prices on last month’s closed sales edged up slightly, at 0.41%, compared with twelve months ago. The area-wide median price on January’s 3,264 completed transactions $557,250; a year ago, when there were 5,085 closed sales, it was $555,000. Nine of the 26 counties in the report had year-over-year price bumps.

“We are seeing multiple offers once again,” stated John Deely, VP of operations at Coldwell Banker Bain. “It’s not like it was at the peak of the market, but buyers are out there and competing for properties,” he added.

The selection of properties, based on the number of total active listings in the MLS database, improved significantly from a year ago, rising from 3,092 listings to 8,220 at month end. That total, which includes 7,179 single family homes and 1,041 condominiums, was down about 13.2% from December’s selection.

Brokers added 4,925 new listings to the MLS database in January, about 1,000 fewer than the same month a year ago. Last month’s additions outgained December when 2,980 properties were added, as well as November, when 4,890 listings were added.

“While residential inventory is popping above six months in a few of our reporting counties, which is at the upper edge of a balanced market, our most populated counties – King, Pierce and Snohomish – are still sitting at one to two months of inventory, which is indicative of a seller’s market,” Deely commented.

The January report from Northwest MLS shows Adams, Columbia, Grays Harbor, Okanogan and San Juan counties each had more than six months of inventory. Ten counties had less than three months of supply.

“We saw a favorable spike of intensity in the market in January,” reported L. Lennox Scott, chairman and CEO of John L. Scott Real Estate. “With fewer new resale homes coming onto the market, there’s a shortage/low level of unsold inventory, especially in the more affordable and mid-price ranges where approximately 80% of sales activity takes place.”

Broker Dean Rebhuhn, owner of Village Homes and Properties, believes “the spring real estate market is here early. A combination of pent-up buyer demand, attractive prices and low inventory in King, Pierce and Snohomish counties are driving sales.” He pointed to “reasonable interest rates” and new properties coming on the market daily as factors for the creation of what he called the “new normal market.”

On Thursday, Freddie Mac (the Federal Home Loan Mortgage Home Loan Mortgage Corporation) reported the U.S. weekly average for a 30-year fixed-rate mortgage was 6.09%, down about a full point from November when it peaked at just over 7%. According to its research, this one percentage point rate reduction can allow as many as three million more mortgage-ready consumers to qualify and afford a $400,000 loan, the median home price in the U.S.

George Ratiu, manager of economic research at Realtor.com, said the recent decline in rates means for today’s buyer of a median priced home, the down payment amount is lower than it would have been last summer.

“While interest rates have tempered a bit, many buyers are moving forward to purchase with an intent to refinance once rates come down more,” stated Frank Wilson, Kitsap regional manager and branch managing broker at John L. Scott’s North Kitsap office.

Last month’s median price for homes that sold in Kitsap County was $487,000, well below the median price in both King County ($723,000) and Snohomish County ($645,000). Prices in Kitsap are down from both a year ago and December, but inventory is tight with slightly more than two months of supply.

Wilson described the market in Kitsap as “similar to a well-planted bed of tulips. You know it is there but will not see any real color until March or April.” He believes many sellers are waiting until later in the year to sell, but noted buyers who must buy are currently out in numbers. “We are seeing good traffic at our open houses and new, correctly priced listings are receiving multiple offers.”   

NAR Chief Economist Lawrence Yun suggested the “recent low point in home sales activity is likely over.” Commenting on pending sales for December, he stated, “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”

Although brokers and buyers welcome the declining rates and improving inventory, several obstacles still face first-time home buyers. Based on his observations, Rebhuhn said the biggest challenge for first timers involves assembling the down payment. “Buyers are using savings, gifts and loans from family, and borrowing from investment and retirement accounts,” according to Rebhuhn.

Deely also noted challenges exist in the condo market.

“The condo market in our most populated counties is quite a bit different and not recovering as quickly,” Deely said, adding, “However, it is still active and the sales that are taking place are keeping the condo market in balance.”

Northwest MLS statistics for January show there were 757 pending sales of condos, about 24% fewer than the same month a year ago. Last month’s volume was the highest since October when brokers reported 823 pending sales.

Condo prices system-wide were down about 2.5% from a year ago, declining from $435,000 to $424,000. Only four counties (Kitsap, Pacific, Skagit and Thurston) reported year-over-year price increases for last month’s condo sales.   

Yun believes the “new normal” for mortgage rates will likely be in the 5.5% to 6.5% range, adding, “Job gains will steadily become important in driving local home-sales markets.”

Last week, the U.S. Labor Department defied expectations by reporting the addition of 517,000 jobs on a seasonally adjusted basis, the largest increase since July. The unemployment rate fell to 3.4%, the lowest level since 1968.

Washington’s Employment Security Department reported a statewide unemployment rate of 4.2% for December. (January figures are not yet published.) In that report, the U.S. unemployment rate was 3.5%. ESD’s county snapshot shows unemployment rates range from 2.8% in King County to 11% in Ferry County.

About Northwest Multiple Listing Service

As the leading resource for the region’s residential real estate industry, NWMLS provides valuable products and services, superior member support, and the most trusted, current listing data and industry information for real estate professionals. NWMLS is a member-owned, not-for-profit organization with more than 2,500 member offices and 32,000 real estate brokers throughout Washington state. With extensive knowledge of the region, NWMLS operates 20 service centers and serves 26 counties, providing dedicated support to its members and fostering a robust, cooperative brokerage environment. nwmls.com.

4-county Puget Sound Region Pending Sales (SFH + Condo combined)

(totals include King, Snohomish, Pierce & Kitsap counties)

Since our last update, the market has continued to improve, with more and more Buyers choosing to buy a home today. We’ve got all the latest updates on the market, so be sure to check out our videos today!

Whether you’re looking to buy or sell a home in Eastside Seattle, be sure to check out this video for the latest information on the market conditions and how to best navigate them! We’ll cover everything from the current market trends and the main statistic you need to know to understand the direction of prices in our area. So be sure to subscribe to our channel to stay up-to-date on the latest Eastside Real Estate news!

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.w…
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 34 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

Has the market turned the corner? Are we back in a sellers market? Where are prices headed? We will address these questions this week.

Whether you’re looking to buy or sell a home in Eastside Seattle, be sure to check out this video for the latest information on the market conditions and how to best navigate them! We’ll cover everything from the current market trends and the main statistic you need to know to understand the direction of prices in our area. So be sure to subscribe to our channel to stay up-to-date on the latest Eastside Real Estate news!

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.w…
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 34 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

Has the market turned the corner? Are we back in a sellers market? Where are prices headed? We will address these questions this week.

Whether you’re looking to buy or sell a home in Eastside Seattle, be sure to check out this video for the latest information on the market conditions and how to best navigate them! We’ll cover everything from the current market trends and the main statistic you need to know to understand the direction of prices in our area. So be sure to subscribe to our channel to stay up-to-date on the latest Eastside Real Estate news!

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.w…
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 34 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

Get in touch with our team today to find out more about the current market conditions in Seattle’s Eastside! We’ll be happy to help you out!

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.w…
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 34 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

In this video, I’m ranking the Top 5 Housing Numbers on Seattle’s Eastside. These numbers are updated as of January 11, 2023 and will be a valuable resource for anyone looking to buy or sell property on the Eastside.

Whether you’re looking for a new home or you’re selling your current property, these numbers will help you make an informed decision about where to buy or sell. Watch this video to get the latest update on Seattle’s Eastside real estate market!

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.w…
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 34 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

In this video, we’ll share our latest market update for the Redmond & Woodinville Washington real estate market. We’ll give you an overview of the current market conditions, and provide you with some tips on what to expect going forward.

Whether you’re looking to buy or sell a home in Redmond & Woodinville, be sure to check out our latest market update! We’ll provide you with all the information you need to make the best decision for your situation, and we hope you enjoy the video!

This update incudes popular neighborhoods such as Education Hill, English Hill, Hollywood Hill, Bear Creek, Tuscany, Union Hill, Novelty Hill, Trilogy, Redmond Ridge, Rose Hill and the Microsoft Area.

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.w…
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 33 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call at 425-466-1000!

#redmondrealestate #redmond #redmondwashington #redmondhousing #woodinvillerealestate #woodinville #woodinvillehousing #microsoft #facebook #google #amazon

Are you looking for a new place to live? Or maybe you’re just curious about the current housing market in your area? In this video, we’ll share the top 3 housing numbers in Eastside, Seattle and Snohomish County – as of January 2023.

Check out this video to see how the housing market is changing in your area – and find out what the current top three housing numbers are! This information is helpful if you’re thinking about buying or selling a home, or if you’re just curious about the current market conditions.

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.w…
LinkedIn: https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 33 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call at 425-466-1000!

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

January 6, 2023

Last year was a tale of two housing markets, suggested broker Dean Rebhuhn in commenting on the latest statistics from Northwest Multiple Listing Service.

The MLS report for December shows continued growth in the number of active listings compared to the same month a year ago, but sharp drops in the number of pending and closed sales. Last month’s prices for single family homes and condominiums that sold across the 26 counties in the report dropped 0.51% from twelve months ago, marking the first year-over-year price decline since March 2012.

Year-over-year prices for last month’s sales of single family homes and condos (combined) declined in 17 counties and rose in nine counties. The median sales price was $570,000, down $2,900 (-0.51%) from the year-ago figure of $572,900. Last year’s median price overall peaked in May 2022, at $660,000.

The median price for single family homes (excluding condos) that sold last month was $587,500, down 0.42% from a year ago when it was $590,000. Condo prices edged up last month compared to the same month a year ago, increasing from $435,000 to $440,000 for a gain of 1.15%.

“In the first half of the year, we had low interest rates, rising prices, and little inventory,” commented Rebhuhn, who owns Village Homes and Properties in Woodinville. “The second half of the year brought increasing interest rates, some lowering of prices, and increasing inventory.”

Rebhuhn characterized last month’s activity as “good,” considering the holidays, snow and a rare Pacific Northwest ice storm. He noted there were about twice as many pending sales as new listings on average every day. “We still have pent up buyer demand and low inventory in the major markets.”

Brokers added 2,980 new listings to inventory last month. That total was 1,637 fewer than the number added during December 2021 (4,617).

Sellers accepted 4,017 offers from buyers, down about 31% from the year-ago volume of pending sales (5,850).

At month-end, buyers could choose from 9,475 active listings, nearly three times as many as a year ago when 3,240 homes and condos were offered for sale area-wide.

“The local housing market in 2022 ended with a whimper rather than a bang,” stated Matthew Gardner, chief economist at Windermere Real Estate. “Overall, the housing market is going to continue falling off the artificial ‘sugar high’ that was a function of the artificially low mortgage rates during the pandemic,” he added.

Dick Beeson, managing broker at RE/MAX Northwest, Tacoma/Gig Harbor, also commented on last year’s market shifts.

“The market in the second half of 2022 was snakebit by high interest rates and lots more people becoming sellers who wanted to either pocket their large equities or arbitrage their gains into less expensive markets,” he remarked, adding, “In a span of six months, we went from 3% interest rates to 7%, and from two weeks of inventory to two months of inventory.”

The Northwest MLS report shows about 2.1 months of inventory at the end of December, marking the fourth consecutive month with at least eight weeks of supply. Six counties, including King, Kitsap, and Snohomish, still have less than two months of supply.

Only four of the 26 counties in the NWMLS service area have five months or more inventory, noted John Deely, who added, “The market has slowed due to rising interest rates and economic news, yet we haven’t tipped to a buyers’ market quite yet, which is reflected by 4-to-6 months of inventory.”

In Kitsap County, where there is 1.78 months of supply, brokers added 172 new listings to inventory during December, 70 fewer than the same month a year ago. Pending sales (241 total) outgained new listings by 69 transactions. “Kitsap County sales continues to outstrip new inventory despite the concern for interest rates,” noted NWMLS director Frank Leach, broker owner of RE/MAX Platinum Services in Silverdale.

Leach described sales as being “off slightly” but said there is a lot of movement. “We are seeing a lot of activity as folks reposition themselves to find a home and potentially refinance sometime in the future.”

“Open houses were relatively quiet during the holidays,” Leach reported, attributing some of the falloff to weather and seasonal schedules. “Agents are continuing to see multiple offers and some sellers are making concessions to bring their homes to a close so they can move on.”

“Kitsap County continues to have a robust building market in both the residential and rental markets,” according to Leach, who added “As rents go up so do the number of folks who want to buy.” Also fueling activity is unimproved land, which Leach said is “getting a shot in the arm, with builders, investors, and folks wanting to build their dream home” being factors.

J. Lennox Scott, chairman and CEO at John L. Scott Real Estate, expects depleted inventory will persist in the near term.

“As we enter the first of the year, the market is experiencing a shortage of homes for sale in the more affordable and mid-price ranges,” Scott reported. “With the winter cleanup of unsold inventory complete, and with a low level of new listings coming on the market in January and February, the availability of homes for sale will be at a low point.”

Heading into spring, Scott expects an uptick. “We anticipate a strong/very strong intensity of new listings going under contract within the first 30 days.” He believes the intensity will settle down pre-summer “when we can expect to see a higher number of new listings coming onto the market.”

Several Northwest MLS representatives who commented on December activity expect prices to soften this year.

“It seems those pesky home price increases have apexed in most markets. Most areas will retreat slightly this year – maybe 2% to 4% and maybe more in some markets,” stated Beeson.

Deely noted “quite a few buyers dropped out of the market as rates went up,” but said many of those people are still in the market but are “reassessing their price ranges and search areas based on interest rate hikes and reduced buying power. With the median sold price flat in most counties and on decline in others, sellers are becoming more competitive.”

Gardner, the Windermere economist, acknowledged December 2022 prices were modestly lower than December 2021, but emphasized “This does not tell the whole story as the median home sale price for all of 2022 was significantly higher than in 2021.” (Northwest MLS figures show the median price overall increased by $50,000, or nearly 8.9%.)

Gardner expects prices will continue to decline through the first half of 2023 but said “with mortgage rates expected to slowly fall from current levels, sale prices should start increasing again in the second half of the year. Ultimately, once prices pull back to where they would have been if the pandemic had never occurred, they will start to stabilize and then return to a more normalized pace of appreciation.”

Looking ahead, Deely remarked, “As we enter 2023, we are leaving behind the 2022 transitional market and a bridge from the once-in-a-generation 2021 housing market where we experienced record low inventory and peak sales.”

Rebhuhn suggests finding the proper price will be important for sellers in 2023, while buyers can look forward to increasing inventory. “The 2023 market will be better than most believe,” he stated.

Beeson anticipates an “exciting year” for real estate in 2023. “Thankfully, rates are trending down and should trickle down even more this year, giving buyers more purchasing power.” He also believes increased competition among sellers has been good for buyers, contributing to a more balanced market.

Freddie Mac reported mortgage market activity “significantly shrunk over the last year” as high rates continued to weaken the housing market. The government sponsored enterprise (officially named the Federal Home Loan Mortgage Corp.) believes homebuyers are waiting for rates to decrease more significantly. With lower rates expected and inflationary pressures easing, Freddie Mac said “a strong job market and large demographic tailwind of Millennial renters will provide support to the purchase market. Moreover, if rates continue to decline, borrowers who purchased in the last year will have opportunities to refinance into lower rates.”

About Northwest Multiple Listing Service

As the leading resource for the region’s residential real estate industry, NWMLS provides valuable products and services, superior member support, and the most trusted, current listing data and industry information for real estate professionals. NWMLS is a member-owned, not-for-profit organization with more than 2,500 member offices and 32,000 real estate brokers throughout Washington state. With extensive knowledge of the region, NWMLS operates 20 service centers and serves 26 counties, providing dedicated support to its members and fostering a robust, cooperative brokerage environment. nwmls.com.

4-county Puget Sound Region Pending Sales (SFH + Condo combined)

(totals include King, Snohomish, Pierce & Kitsap counties)

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

THE NUMBERS:
Active Listings reached their highest level this year on 7/27/22 at 1189. Active Listings continue to drop from last week. 664 vs 726 a 9% decrease. Compared to a year ago this week, listings are up 655%.

Active List Prices peaked this year in the week of 3/9/22 with the median at $2,499,500. As of this week they are at a median price of $1,750,000.

Pending Sales have dropped from last week. 51 vs 53 a 4% decrease. Compared to a year ago this week, pending sales are down 41%.

Pending Sales Prices peaked this year in the week of 3/30/22 with the median at $1,659,500. As of this week, they are now at a median of $1,298,000 which is up from last week where they were at $1,225,000.

Months of Inventory reached their lowest level (favoring a seller) this year in the week of 3/9/22 at 0.16 months of inventory.

Current Months of Inventory dropped this week. It was 3.16 months of inventory last week and is now 3.0 months of inventory.

(Months of Inventory Guide: 2 months or less = Seller Favored, 2-4 months = Balanced Market, 4+ months = Buyer Favored)

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.windermere/
https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 33 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call!

#redmond #redmondrealestate #bellevue #bellevuerealestate #woodinville #woodinvillerealestate #issaquah #issaquahrealestate #sammamish #sammamishrealestate #bothell #bothellrealestate #kirkland #kirklandrealestate #medina #kenmore #duvall #clydehill #fallcity #carnation
Wednesday Update: Seattle’s Eastside Residential Market Update for the week of 12/14/22.

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

THE NUMBERS:
Active Listings reached their highest level this year on 7/27/22 at 1189. Active Listings continue to drop from last week. 664 vs 726 a 9% decrease. Compared to a year ago this week, listings are up 655%.

Active List Prices peaked this year in the week of 3/9/22 with the median at $2,499,500. As of this week they are at a median price of $1,750,000.

Pending Sales have dropped from last week. 51 vs 53 a 4% decrease. Compared to a year ago this week, pending sales are down 41%.

Pending Sales Prices peaked this year in the week of 3/30/22 with the median at $1,659,500. As of this week, they are now at a median of $1,298,000 which is up from last week where they were at $1,225,000.

Months of Inventory reached their lowest level (favoring a seller) this year in the week of 3/9/22 at 0.16 months of inventory.

Current Months of Inventory dropped this week. It was 3.16 months of inventory last week and is now 3.0 months of inventory.

(Months of Inventory Guide: 2 months or less = Seller Favored, 2-4 months = Balanced Market, 4+ months = Buyer Favored)

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.windermere/
https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 33 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call!

#redmond #redmondrealestate #bellevue #bellevuerealestate #woodinville #woodinvillerealestate #issaquah #issaquahrealestate #sammamish #sammamishrealestate #bothell #bothellrealestate #kirkland #kirklandrealestate #medina #kenmore #duvall #clydehill #fallcity #carnation

This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

THE NUMBERS:
Active Listings reached their highest level this year on 7/27/22 at 1189. Active Listings continue to drop from last week. 664 vs 726 a 9% decrease. Compared to a year ago this week, listings are up 655%.

Active List Prices peaked this year in the week of 3/9/22 with the median at $2,499,500. As of this week they are at a median price of $1,750,000.

Pending Sales have dropped from last week. 51 vs 53 a 4% decrease. Compared to a year ago this week, pending sales are down 41%.

Pending Sales Prices peaked this year in the week of 3/30/22 with the median at $1,659,500. As of this week, they are now at a median of $1,298,000 which is up from last week where they were at $1,225,000.

Months of Inventory reached their lowest level (favoring a seller) this year in the week of 3/9/22 at 0.16 months of inventory.

Current Months of Inventory dropped this week. It was 3.16 months of inventory last week and is now 3.0 months of inventory.

(Months of Inventory Guide: 2 months or less = Seller Favored, 2-4 months = Balanced Market, 4+ months = Buyer Favored)

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.windermere/
https://www.linkedin.com/in/tonymeier/

Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 33 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call!

#redmond #redmondrealestate #bellevue #bellevuerealestate #woodinville #woodinvillerealestate #issaquah #issaquahrealestate #sammamish #sammamishrealestate #bothell #bothellrealestate #kirkland #kirklandrealestate #medina #kenmore #duvall #clydehill #fallcity #carnation

Wednesday Update: Seattle’s Eastside Residential Market Update for the week of 12/7/22.

This Eastside Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

Holiday Cheers returns to the Real Estate Market this week. Watch our video for all the details.

THE NUMBERS:
Active Listings reached their highest level this year on 7/27/22 at 1189. Active Listings continue to drop from last week. 726 vs 791 a 8% decrease. Compared to a year ago this week, listings are up 548%.

Active List Prices peaked this year in the week of 3/9/22 with the median at $2,499,500. As of this week they are at a median price of $1,741,625.

Pending Sales have rose from last week. 53 vs 40 a 33% increase. Compared to a year ago this week, pending sales are down 37%.

Pending Sales Prices peaked this year in the week of 3/30/22 with the median at $1,659,500. As of this week, they are now at a median of $1,225,000 which is up from last week where they were at $1,187,500.

Months of Inventory reached their lowest level (favoring a seller) this year in the week of 3/9/22 at 0.16 months of inventory.

Current Months of Inventory dropped this week. It was 4.56 months of inventory last week and is now 3.16 months of inventory.

(Months of Inventory Guide: 2 months or less = Seller Favored, 2-4 months = Balanced Market, 4+ months = Buyer Favored)

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.windermere/
https://www.linkedin.com/in/tonymeier/

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #issaquahrealestate #bothellrealestate #medina #kenmore

If you’re looking to buy or sell a property in the Seattle area, then you need to have a good understanding of the market condition and their effect on home prices. In this video, we’re going to share with you the top three numbers you need to know in order to understand the market and understand how prices have fluctuated over time. So be sure to watch this video to learn more about the Seattle area’s real estate market!

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.windermere/
https://www.linkedin.com/in/tonymeier/

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate #seattlerealestate #snohomishcountyrealestate

November statistics from Northwest Multiple Listing Service surprised few brokers. They point to holidays, inclement weather, and various economic factors for prompting pauses in listing and sales activity. Nonetheless, several industry leaders commented on positive signs, fueled in part by pent-up demand and evidence of easing inflation pressures.

“Determined buyers are purchasing homes, with pent-up demand driving the market,” reported Dean Rebhuhn, owner of Village Homes and Properties in Woodinville. “Sellers who price to the market are attracting showings and receiving good offers,” he added, noting King County experienced an average of 55 sales per day last month, with year-over-year (YOY) median prices in King County up $10,000, rising from $740,000 to $750,000.

Northwest MLS figures show both pending and closed sales fell sharply from a year ago, but median prices system-wide edged up slightly (0.88%), from $570,000 to $575,000. Pending sales (mutually accepted offers) across the 26 counties in the report were down 40% (dropping from 8,571 a year ago to 5,106) while closed sales fell 42% (declining from 8,976 to 5,194). NWMLS figures show brokers closed an average of 173 sales per day across all counties.

The volume of closed sales, at 5,194, was the lowest level since February (5,147) and January (5,085). Compared to January’s median price of $555,000, last month’s buyers paid 3.6% more ($575,000).

“Our traditional seasonal slowdown around the holidays is happening earlier this year, with the alignment of climbing interest rates, economic news, local weather, and a volatile stock market,” stated John Deely, executive vice president of operations at Coldwell Banker Bain. “These conditions make it easier for consumers to place large purchases on hold, though we saw several notable sales in the luxury market over the last month, as real estate is still one of the best investments one can make,” he remarked.

Data from the multiple listing service shows 15.84% of November’s sales topped $1 million, while a year ago 13.96% of sales were at that level.

While some buyers are taking advantage of the expanding inventory as the market swings to their advantage, Deely said others are hesitant. “Some buyers are sitting on the sidelines waiting for interest rates to come down or thinking prices will come down even further.”

Inventory statistics were mixed. Brokers added 4,890 new listings during November, a decline of 24.2% compared to the same month a year ago when they added 6,455 new listings.

At month end, there were 12,245 total active listings, a whopping increase (about 165%) from the selection of a year ago when there were only 4,621 active listings.

Measured by months of inventory, November’s supply, at 2.36 months, was best since January 2019 when the overall selection reached 2.4 months of inventory.

Frank Leach, broker/owner at RE/MAX Platinum Services in Silverdale, commented on Kitsap County’s improving inventory. Northwest MLS figures show there was just under two months of supply (1.95 months), last month whereas a year ago there was only about two weeks of supply (0.57 months).

Leach described the market as “normalizing,” adding, “We have seen an uptick in open houses, with healthy traffic during October and November. We anticipate brisk sales across the holidays and into the new year with inventory building toward the end of December and into January. We’re telling folks to get pre-approved and have all their documents in so if the market does take a swing, they will be ready to seize the opportunity.”

The latest statistics from Northwest MLS show both pending sales and closed sales in Kitsap County fell about 33% year-over-year. Median prices edged up slightly more than 1%, from $500,000 to $505,471.

Northwest MLS director Mike Larson, managing broker at Compass in Tacoma, also commented on the normalizing market, echoing comments about rates “leveling off a bit, there’s not nearly as much competition, and peak inflation appears to be behind us.” Citing observations in a company newsletter, he agreed it’s good news for buyers “and a hopeful sign that after the holidays and the new year will come a more normal market.”

Fifteen of the 26 counties reported price increases from a year ago, with 11 counties having declines. All four counties in the Puget Sound region experienced modest price gains, ranging from about 1.1% in Kitsap County to 2.9% in Snohomish County.

“The data show we’re in a changed market,” observed Dick Beeson, managing broker at RE/MAX Northwest in Tacoma/Gig Harbor. “High interest rates, doubled inventory levels, anxious lenders, contracts written with negotiations for repairs, closing costs, and other sundry things – all of these have returned to the market,” he said, adding, “Sellers realize they must actually compete with other sellers to gain a buyer’s attention and an offer.”

Beeson reported some buyers “are having trouble pulling the trigger because their heads are spinning around” in part because there’s twice the inventory to choose from and the ever-changing market. In anticipation of further growth in inventory and rates edging down, he said brokers need to be ready to help buyers make informed decisions.

J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, noted both the number of home buyers and the number of new listings are running below pre-pandemic seasonal levels. “There is a shortage of unsold inventory, especially in the more affordable and mid-price ranges where approximately 80% of transactions take place within each market.” He reported a strong level of activity intensity for new listings going under contract within the first 30 days.

“December is traditionally the low point of new listings coming onto the market because of the holiday season,” Scott noted, while pointing to good news for buyers. “Home mortgage interest rates are lower than a month ago!” Noting economists forecast lower interest rates on the horizon as the economy works through lowering inflation, Scott reported, “Homebuyers are currently purchasing at market price with the possibility to refinance when rates decrease. In the meantime, some buyers are purchasing with a five-year or seven-year adjustable-rate mortgage which lowers the interest rate and monthly payment.”

Matthew Gardner, chief economist at Windermere Real Estate, is among those expecting mortgage rates to drop. “Early in the new year, I expect the Fed to start pulling back from their aggressive policy stance, and this will allow rates to begin slowly stabilizing.” He believes rates will remain above 6% until fall 2023 “when they should dip into the high 5% range. While this is higher than we have become used to, it’s still more than 2% lower than the historic average.”

Meredith Hansen, founder/operating principal at Keller Williams Greater Seattle and a NWMLS director, encouraged hopeful owners to consider purchasing options. “With rents expected to outpace home prices, it may be a good time to take the plunge into home ownership, especially for first-time buyers,” she suggested. “These first-timer buyers should look at different opportunities to get their foot in the home ownership door.” Among options she mentioned are possible rent to own opportunities or buying a home that needs work and building equity by “using elbow grease.”

Hansen also recommended would-be buyers tap into resources for prospective homeowners at the Washington State Housing Finance Commission, including its free homebuyer education seminars and down payment and closing costs assistance programs.

Looking ahead, Gardner said he does not expect supply to grow significantly with inventory levels remaining well below their long-term average. “It’s unlikely we’ll see a buyer’s market in 2023, but I do expect a return to a far more balanced one.” He believes the days of sellers “having the upper hand are behind us,” adding they will have to become more realistic “with accurate pricing becoming more important than ever.”

Deely believes the 2023 market “is shaping up to be quite competitive with building inventory and pent-up buyer demand.”

About Northwest Multiple Listing Service

As the leading resource for the region’s residential real estate industry, NWMLS provides valuable products and services, superior member support, and the most trusted, current listing data and industry information for real estate professionals. NWMLS is a member-owned, not-for-profit organization with more than 2,500 member offices and 32,000 real estate brokers throughout Washington state. With extensive knowledge of the region, NWMLS operates 20 service centers and serves 26 counties, providing dedicated support to its members and fostering a robust, cooperative brokerage environment. nwmls.com.

4-county Puget Sound Region Pending Sales (SFH + Condo combined)

(totals include King, Snohomish, Pierce & Kitsap counties)

Wednesday Update: Seattle’s Eastside Residential Market Update for the week of 11/30/22. This Eastside Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville

We have mixed news to share this week. Watch our video for all the details.

THE NUMBERS:
Active Listings reached their highest level this year on 7/27/22 at 1189. Active Listings are down from last week. 791 vs 838 a 6% decrease. Compared to a year ago this week, listings are up 675%.

Active List Prices peaked this year in the week of 3/9/22 with the median at $2,499,500. As of this week they are at a median price of $1,748,000.

Pending Sales have dropped from last week. 40 vs 69 a 42% decrease. Compared to a year ago this week, pending sales are down 17%.

Pending Sales Prices peaked this year in the week of 3/30/22 with the median at $1,659,500. As of this week, they are now at a median of $1,187,500 which is down from last week where they were at $1,250,000.

Months of Inventory reached their lowest level (favoring a seller) this year in the week of 3/9/22 at 0.16 months of inventory.

Current Months of Inventory rose this week. It was 2.80 months of inventory last week and is now 4.56 months of inventory, the highest level this year.

(Months of Inventory Guide: 2 months or less = Seller Favored, 2-4 months = Balanced Market, 4+ months = Buyer Favored)

As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere

Find us online at:
Web: https://eastsidehomes.com
Facebook: https://www.facebook.com/tmeier
Instagram: https://www.instagram.com/tonymeier.windermere/
https://www.linkedin.com/in/tonymeier/

#redmondrealestate #bellevuerealestate #woodinvillerealestate #issaquahrealestate #sammamishrealestate #bothellrealestate #kirklandrealestate