Real Estate Report: Inventory Expanding; Sales Prices Lower
Jul 7, 2026, 9:15 AM
425 Magazine
Homebuyers in June had the greatest selection of homes this year, with total active listings up 16.4% year over year and 8% from May, resulting in 23,088 homes on the market and continuing a gradual shift toward more balanced conditions, according to a Northwest Multiple Listing Service report for its 27-county service area.
Total active listings for single-family homes and condominiums combined in King and Snohomish counties rose 16.9% and 29.2%, respectively, from June 2025, NWMLS data showed. Snohomish County posted the fifth-largest increase among the 27 counties.
Despite elevated mortgage rates and ongoing affordability challenges, buyers remained active throughout the 27 counties, Kirkland-based NWMLS said in its report for June.
Closed sales increased 2.3% compared to June 2025 and 10.2% from May, reflecting continued demand as the summer market gained momentum, according to NWMLS. The number of closed sales for homes and condos in King and Snohomish counties, however, fell 6.4% and 0.1%, respectively, from a year ago.
The median sales price for homes and condos combined throughout the 27 counties held steady at $650,000 for the third consecutive month, but it was 3% lower than June 2025. In King County, the median sales price was $889,000, down 2.7% from a year ago, and second highest median among the 27 counties, behind San Juan County at just more than $1 million. In Snohomish County, the median was $725,500, third-highest among the counties, and down 6.4% from a year ago.
Looking at single-family homes only, King County posted a median sales price of $986,250, down 4.6% from June 2025. On the county’s Eastside, the median sales price was almost $1.6 million, down 3.1%. The most expensive Eastside submarket, Bellevue west of Interstate 405, was almost $3.7 million, down 19.8%.
King County condos sold at a median of $514,000, down 10.8%. On the Eastside, the condo median was $690,500, down 11.5%. Kirkland/Bridle Trails was the priciest condo market, with a median of $968,000, down 3.4%.
In Snohomish County, the single-family home median sales price was $750,000, down 8%. The southeast county registered the highest median, almost $1.15 million, down 4.4%.
The county’s median for condos was $487,500, down 18.8%. The southeast submarket saw a median of $780,000, down 11.6%.
While inventory continues to increase across much of Washington, mortgage rates remain an important factor influencing affordability and buyer activity, the report said.
“At the end of February 2026, 30-year fixed mortgage interest rates had reached their lowest point since September 2022: 5.98%,” Steven Bourassa, director of the Washington Center for Real Estate Research, said in the NWMLS report. “Then the war with Iran started, resulting in increased inflation and, in turn, higher interest rates. By the end of June, rates had risen by just over half a percentage point to 6.49%, which was also the average rate for the month and slightly higher than the average for May. Not surprisingly, median home prices across the NWMLS service area were unchanged from the previous month and 3% below last year’s level. Closed sales increased about 2% year over year but continued to lag the approximately 16% increase in active listings, consistent with the decline in median prices.”
