It seems Seattle’s condo market aligned with the damp and dreary half of Seattle’s Spring season last month. While the number of condo listings blossomed, unit sales and selling prices withered.

Selling Prices Soften

Per the NWMLS, the overall Seattle citywide median selling price dropped to $575,000 in April, reflecting a year-over-year (YoY) and month-over-month (MoM) decrease of 3.9% and 4.6%, respectively. This is for all properties classified as a condominium in the NWMLS and was the 4th consecutive YoY decrease compared to 2025.

Breaking these out by traditional condos (e.g. individual units in a large building / complex) and non-traditional condos (everything else), traditional condos faired slightly better. The median sales price for traditional condos was $469,950. That reflected a one-year decline of 13.2% but only a 1.1% dip from March. Non-traditional condos had a median sales price of $685,000, which exhibited a YoY and MoM drop of 16.9% and 12.2%, respectively.

Non-traditional condos include single family houses, townhomes, accessory dwelling units (ADU), detached accessory dwelling units (DADU), boat moorage and deeded parking spaces. They accounted for 32.7% of all Seattle condo sales in April.

Even though Seattle as a whole reflected depressed selling prices, there were positive movement as well. For instance, YoY median sale prices rose in South Seattle (+23.1%), Downtown / Belltown (+17.1%), Southeast Seattle (+6.1%) and West Seattle (+6%).

On the other hand, Northeast Seattle (-40.8%), Queen Anne / Magnolia (-10.8%), Northwest Seattle (-5.5%) and Capitol Hill / Central (-4.9%) experienced falling selling values. Keep in mind, these neighborhood figures are a one-month snapshot, heavily influenced by townhome & DADU sales, and based on small sample sizes. View complete neighborhood area results here.

Seattle Condos Listings Spring in Abundance

Seattle condo listings continued to rise. We ended April with 1,067 units for sale listed in the NWMLS. That reflected a 10% increase over the same period last year and 14% more than we had in the prior month.

We started the month with 936 listings. Sellers added another 526 new listings to market over the month for a total of 1,462 units. However, that 526 new listings were 10 fewer than the previous April, a drop of 1.9% compared to 2025. Thus, fewer sellers decided to sell…albeit just by 10.

Of the 1,462 total listings in April, 395 listings came off the market, which left 1,067 at month end. These came off the market due to sales, listing cancellations and expirations, being rented out or for other reasons.

With more listings overall combined with slower sales activity, the Seattle condo inventory supply rate rose to 4.4-months of supply based on pending sales and 5-months based on closed sales. This effectively moves Seattle into a normal or balanced real estate market.

The inventory supply rate categorizes the current market environment. A rate of less than 4-month of supply is considered a seller’s market. A rate between 4 to 7-months is a normal or balanced market. And, a rate more than 7-months would be a buyer’s market.

Like median selling prices noted above, the supply rate and the environment sellers and buyers find themselves in are influenced by area. Seattle’s real estate is comprised of neighborhood micro markets that are impacted by condo density and desirability.

For example, the condo-dense Downtown / Belltown area has a supply rate of 8.5-months, firmly placing it in a buyer’s market. Though, ironically, it also exhibited a 17.1% increase in selling prices last month, which was affected by high-end luxury sales shifting the median mid-point upwards. Conversely, Northwest Seattle and West Seattle have supply rates under 3-months, reflecting a seller’s market.

Sales Activity Pleateau

There were 245 pending sales transactions in April. That was an improvement of 2.1% over the prior month, but was 0.4%, or 1 sale, less than a year ago. Fortunately, sales are trending upwards as we’d anticipate for the Spring season.

Interest rates jumped last month, which could have dampened sales. The condo market is shaped by its predominate buyer pool (the technology and medical segments based around downtown). Tech employment layoffs, fluctuating financial markets and 401K balances, and general uncertainty both locally and globally all impact Seattle’s condo market.

The number of closed condo sales improved over March by 3.4% to 213 units. However, that was 9% fewer closing than a year ago. Closings lag pending by a month, so the decent number of pendings in April will hopefully result in solid showing for May closings.

In Summary,

Seattle’s real estate market is historically cyclical — we experience the same trends year after year. The Spring season is the most active period with more listings, more buyers and a greater number of sales and higher prices. For the most part, Seattle is still holding to its selling cycle, but continues to lag behind and underperform 2025.

For qualified buyers, this presents opportunities. Although mortgage interest rates fluctuate, they have been fairly stable, hovering around the low-to-mid 6s. There hasn’t been dramatic spikes. The abundant supply provides lots of options to chose from and has tempered prices around the condo-dense downtown core.

Seller’s experience may largely be based on location. Outlying neighborhoods where there are fewer traditional condos and limited supply, will fair better. Sellers may experience shorter selling times and better selling price to list price ratios. Sellers around the downtown core may need to buckle in for longer selling time and softer prices.

Seattle Condo Market Statistics April 2026

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post April 2026 Seattle Condo Market Recap first appeared on Seattle Condos and Lofts.

New condominium developments get a helping hand from the state legislature.  That’s the hope anyway.

To many people Seattle offers an abundance of condominium properties.  And, for buyers, that may be the case with a considerable number of listings to choose from right now. No matter what part of the city you’re looking in, there seems to be an endless supply of Seattle condos for sale.

But, that is not necessarily the case entirely.  Most of the traditional condominium units have been resale units and are older stock. Except for the downtown Seattle area, there have been very few new condominiums built in Seattle over the past 7-8 years.  And, those new condo builds have been limited to luxury high-rise buildings in downtown and First Hill, as well as a couple of pricey buildings along Alki. 

Seattle has seen an explosion of townhomes, accessory dwelling units (ADU) and detached accessory dwelling units (DADU), which are technically and legally classified as a “condominium”, so they are included in the Northwest MLS as condos. Though, these are more akin to houses rather than the classic, traditional condo properties that are composed of smaller units in a multiunit building. They are also much larger, more expensive and make up a quarter of Seattle’s condo listings. 

Besides townhomes, ADU, DADUs and luxury downtown condo buildings, very few new smaller and less expensive condominiums have been built or converted to condos over the past 10 years.  According to Seattle Agent Magazine, since 2010 93% of Seattle’s multifamily units were rentals or not-for-sale properties. This has created a scarcity of affordable homeownership opportunities for the average Seattleite.  

There are several reasons contributing to this and they have a common denominator – financial. One of the biggest factors is construction expenses with rising labor and material costs. Condos have higher construction standards and finish levels compared to apartments. Along with that is the limited availability and the cost of condominium construction loans.  The downpayment and interest rates are higher than apartments and lenders typically require a large percentage of pre-sales before approval of the construction loan.  

Another major factor has been Washington’s notorious condominium act, the liability for, and the exposure and cost of litigation for developers. As a result, except for expensive luxury high-rise, developers have shied away from condos and opted to construct apartments instead. It’s less expensive to build, more easily financed, and has reduced liability for developers. 

With few traditional condominiums built over the past decade inventory stock remained stagnant. This “missing middle” of condominiums has resulted in scarcity and higher prices, thus reducing options for affordable homeownership in Seattle. 

The state legislature has taken several steps to address this issue.  In 2025 they passed HB1403, to help ease the constraint developers faced with the state’s implied warranty liability statute. HB1403 clarified the law’s vague language and created an insurance alternative, an express warranty for smaller scale developments, that reduce liability exposure and litigation. 

However, the HB1403 was essentially limited to townhomes, ADUs and DADUs.  Specifically, limited to developments with fewer than 12 units and 2-stories, or 3-stories if one level was utilized for parking or commercial use. At that scale, building new affordable condos remained financially unfeasible.

This year the legislature addressed that with HB2304, which was recently signed into law. HB2304 amends HB1403 by expanding the definition of small condo projects qualifying for the express warranty alternative. Now projects up to 4-stories and less than 12-units are included. 

Potentially, this provides the opportunity for developers to build smaller, affordable condo buildings rather than focusing on townhomes.  The median price for Seattle townhomes was $779,000 last month compared to $475,000 for traditional condo units.  That may still seem high but the hope is with the encouragement of new condo development, thus increasing inventory, prices will become more affordable for first-time homebuyers.

Its true impact will most likely be realized in other parts of the state outside Seattle. Though, longer term, with the legislature taking small steps to provide alternatives from the state’s condominium act, that could spur more development within Seattle proper.

The post Legislature Helps Spur Small Affordable Condos first appeared on Seattle Condos and Lofts.

MLS# 2498029

Welcome to Trace North, one of Capitol Hill’s Premier, Green-Certified buildings. Located in the heart of Capitol Hill’s vibrant Pike/Pine District, this beautifully designed open one-bedroom, one-bathroom home delivers the perfect blend of modern style and everyday livability.

Soaring ceilings and an abundance of natural light fill the home for an airy, inviting space with sleek finishes throughout. The kitchen offers generous counter and cabinet space, stainless steel appliances, and a gas cooktop. Additional highlights include cork floors, full-size washer/dryer, newer hot water heater, secure parking spot, and ample in-unit storage.

Trace North’s newly renovated rooftop deck offers BBQs and sweeping sunset views, that’s perfect for spring and summer entertaining. Everything Capitol Hill has to offer is at your doorstep: dining, local coffee shops, retail, parks, and light rail access. With a near-perfect Walk Score of 99 – no car needed. Pet friendly, no rental cap with a min 30-day min rental for flexibility!

• One-bedroom, one-bath
• 671 square foot
• In-unit full-sized washer & dryer
• Garage parking
• Walk-Score of 99/100

This modern condo home is offered at $420,000.

For more information and photos, visit Trace North Unit #406

Learn more about this property! Drop us a note or inquire about this property or for a private showing at Trace North Condominium.

The post Spotlight Listing: Capitol Hill Gem at Trace North first appeared on Seattle Condos and Lofts.

The sunnier weather had a tepid effect as March showers soaked Seattle’s condo market. The warmth of Spring brought out the sellers, but buyers remained cool. The number of listings shot up while condo sales and selling prices mellowed out last month.

Selling Prices Hold Stead

The Seattle citywide condo median sales price in March came in at $602,750. That reflected a slight one-month improvement of 1.1% over February. Though, that also exhibited a 4% drop year-over-year, marking three consecutive months of underperformance compared to last year.

That said, while the graph below looks unimpressive, the March 2026 median selling price was the 5th highest on record.

The median sales price is based on all properties classified as a condominium in the Northwest MLS, which has a broad definition that includes townhomes, condoized houses, accessory dwelling units (ADUs), detached accessory dwelling units (DADUs), boat moorage and deeded parking spaces. These are typically newer, larger and higher valued than the traditional condo unit in a multiple unit building. As a result, they skew the median upwards.

Looking at just traditional condo sales, the median sales price was $475,000 last month. That reflected a one-month and a one-year decrease of 2.5% and 2.1%, respectively. Traditional condo sales accounted for 63% of all condo sales in March.

Non-traditional condos had a median sales price of $779,950, a 5.5% drop from the prior month and a 2.5% dip from the same period last year. They represented 37% of all condo sales in March.

By NWMLS neighborhood area, the condo-dense areas saw decreased median sales prices. Capitol Hill / Central (-25%) lead the way and was followed by Queen Anne / Magnolia (-13.9%) and Downtown / Belltown (-12.4%). On the other hand, in the South end, small sample sizes and townhome sales propped up selling prices in South Seattle (+17.7%) and Southeast Seattle (+7.2%). View all neighborhood results.

Condo Listings Bloom

The Spring season is Seattle’s peak period for real estate, and this year is no exception. Sellers raced to take advantage bringing on an increasing number of units for sale. Seattle ended March with 936 condo listings, which was 17.3% more year-over-year and 12% more than the prior month.

We started March with 836 listings and sellers brought another 481 new listings to market throughout the month for a total of 1,317. The number of new listings in March exceeded the number sellers brought on last year by 11.9%, as well as February by 25.9%.

Of the total listings in March, 381 came off the market leaving 936 at month end. Listings came off the market due to unit sales, cancellations or expirations, being rented out or for other reasons.

As expected with more listings for sale, Seattle’s condo inventory supply rate rose to 3.9-months of supply. This places Seattle in a balanced / normal market environment.

The inventory supply rate categorizes the current market condition. A rate of less than 4-month of supply is considered a seller’s market. A rate between 4 to 7-months is a normal or balanced market. And, a rate more than 7-months would be a buyer’s market. We use pending transactions when calculating the supply rate, though closed sales is also used.

Seattle is comprised of neighborhood micro markets with varying supply and demand levels. For instance, Downtown / Belltown has a supply rate of 8.2-months of supply, which is firmly in a buyer’s market.

On the other hand, Northwest Seattle and West Seattle have supply rates of just 2.4-months and 2.5-months, respectively. That is typically indicative of a tighter market.

However, the type of properties have differing conditions as well. For instance, in Northwest Seattle, traditional condos are reflective of a balance market with 4.8-months of supply, while non-traditional condos (e.g. townhomes, DADUs) reflect a tighter, seller’s market at 1.9-months. Thus, condo buyer may encounter more favorable terms and pricing while townhomes will favor sellers.

Condo Sales Spring Forward

Condo sales improved over February by 7.6% with 240 units under contract in pending status, which is what we’d expect with the spring market. However, that also exhibited 10.5% fewer sales compared to last March.

The bump in mortgage interest rates in March may have impacted sales along with the current uncertainty with tech sector employment and global issues impacting the financial markets.

There were 206 closed condo sales in March, noting a one-month improvement of 14.4% over February and a year-over-year reduction of 16.9%. Closings lag behind pendings by a month or so, thus this should increase in April.

In Summary

Seattle’s condo real estate market is holding true to our cyclical pattern. Sales activity and selling prices blossom during the Spring season and March results bare that out. While that’s good news for a healthy marketplace, we’re underperforming 2025 levels across the board with the exception of the number of listings.

Factors such as the bump in mortgage interest rates in March, tech layoffs, global issues and financial volatility have impacted buyers decisions.

For traditional condo buyers, this presents opportunities with more inventory choices, tempered pricing levels, better purchase terms and negotiating position. This may be less true with small development townhomes and DADUs where the market is a bit tighter.

For Seattle condo sellers, the Spring season has always been the prime time for selling. While there is more competition from other sellers, the Spring season historically exhibits higher sales volume and higher selling prices compared to other times during the calendar year. Yes, you might experience longer selling times and even price reductions, but they are still typically higher than selling in the Fall.

Seattle Condo Market Statistics March 2026

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post Seattle Condo Market March 2026 Recap first appeared on Seattle Condos and Lofts.

MLS #2497638

Live above it all! Come home to this spacious one-bedroom top floor, end unit view condo. This unit sits in the heart of one of Seattle’s most sought after in-city neighborhoods with a beloved local bakery literally at your doorstep.

Soak in stunning views of the city and mountains from your light-filled home or large rooftop deck with BBQ. With no rental cap and short-term rentals allowed, it’s perfect for investors or anyone seeking flexibility or rental income. This condo boasts a Walk Score of 98; Live among many Wallingford shops, restaurants and more.

• One-bedroom, one-bath
• 781 square foot
• Top-floor end unit
• In-unit washer & dryer
• Garage parking
• Extra storage

This modern condo home is offered at $475,000.

For more information and photos, visit Wallingford 45 Condo Unit 411

Learn more about this property! Drop us a note or inquire about this property or for a private showing at Wallingford 45 Condominium.

The post Spotlight Listing: Wallingford View Condo first appeared on Seattle Condos and Lofts.

MLS #2404860

Welcome home to your sanctuary in the heart of the city at this Southeast corner overlooking a tree-lined street at 2200 Westlake Condominium.

This large 858 square foot one-bedroom unit offers floor-to-ceiling windows, gas fireplace, a private balcony with streetscape views. The island kitchen features granite countertops, stainless appliances and ample storage. Work from home with the fully functional built-in desk workspace.

The 2200 Westlake offers top-tier amenities including a fitness center, sauna, community lounge, movie theater, game room, BBQ terrace, pet area, concierge, secured Amazon lockers and more. Plus, Whole Foods is just an elevator ride away—urban living at its best!

• Hardwood & plush carpet flooring
• In-unit washer & dryer
• Garage parking
• Extra storage
• HOA dues include central hot water, natural gas, water / sewer / garage, concierge and common area maintenance.

This wonderful condo home is offered at $529,950.

For more information and photos, visit The 2200 Westlake Condominum #S403

Learn more about this property! Drop us a note or inquire about this property or for a private showing at the 2200 Westlake Condominium.

The post Spolight Listing: South Lake Union Sanctuary first appeared on Seattle Condos and Lofts.

February turned out to be fairly typical for Seattle’s condo market based on historic trends. Overall, progressing through the new year, Seattle condos reflected higher selling prices and increased sales activity. However, the market underperformed compared last February.

Prices Trend Upwards, But Below 2025 Levels

The Seattle citywide condo median sales price in February was $596,275. That reflected one-month increase of 7.1% over January. But, also, a year-over-year (YOY) decrease of 4.6% from last February.

By NWMLS neighborhood area, South Seattle (+49.5%), Southeast Seattle (+14%) and Northeast Seattle (+5.3%) were the only areas to realize increases in their selling prices in February. On the other end, Queen Anne / Magnolia (-26.8%) and Downtown / Belltown (-14.2%) led areas with declining values with double-digit decreases. Click here to view the complete neighborhood area statistics for February 2026.

This reflects the selling prices of all condominium-classified properties in Seattle. The NWMLS commingles various types of properties under its “condominium” category. It includes properties we normally consider to be non-traditional condos such as townhomes, condoized single family houses, accessory dwelling units (ADU), detached accessory dwelling units (DADU), boat moorage and deeded parking spaces. Typically, these are newer, larger and more expensive.

Selling prices were pretty solid when we break out the numbers between traditional and non-traditional condos. Traditional condos had a median sales price of $487,500 in February. That reflected a one-month increase of 9.6% and a YOY drop of 0.5%.

Non-traditional condos had a median sales price of $825,000, exhibiting both a YOY and MOM increase of 6.5%. They also comprised 35.3% of all condo sales in Seattle, essentially 1 in every 3 condos sales were non-traditional and they were predominately new townhomes.

Listings Increased at a Decreasing Pace

The number of listings increased as we’d anticipate transitioning from winter towards the spring. Cyclically, Seattle condo listings rapidly rise throughout the first quarter as we leave the dreary fall season behind with improving weather and renewal.

That said, the number of condo listings increased last month, but at a decreasing pace. Seattle ended February with 836 active listings for sale. That’s 19.6% more than last February and 9.3% more than the prior month.

We started the month with 765 listings and sellers added another 382 new listings for a total of 1,147 units. But, the 382 new listings in February reflected 14.5% fewer new listings compared to January and only 0.5% more YOY. While we have more listings for sale overall, sellers brought fewer listings to market. The increase in net listings for the month was mostly due to sluggish sales.

Of the 1,147 listings available for sale throughout the month, 311 came off the market for various reasons — pended and under contract, had quick closings, been expired or cancelled, rented out or for other reasons — leaving 836 remaining at month’s end.

As of the date of this post, Seattle’s active condo inventory is comprised of 77% traditional condos and 23% non-traditional condos.

The Seattle condo inventory supply rate held steady at 3.7-months of supply, which kept Seattle on the cusp between a seller’s market and a normal market. This is an improvement over last February when the market had slid into a tighter seller’s market.

The inventory supply rate is a metric categorizing the current market condition. A rate of less than 4-month of supply is considered a seller’s market. A rate between 4 to 7-months is a normal or balanced market. And, a rate more than 7-months would be a buyer’s market. We use pending transactions when calculating the supply rate, though closed sales is also used.

Seattle is comprised of neighborhood and price point micro-markets. Neighborhoods with a dense concentration of condos like downtown, Queen Anne and Capitol Hill, are reflective of a balanced market with more than 4-months of supply. In areas with fewer condos such as North Seattle and West Seattle, they’re reflective of a seller’s market with under 3-months of supply.

Condo Sales Improve, Sluggishly

One of the reasons we have more listings and a decent inventory supply rate was due to softer condo sales in February. There were 223 pending transactions (listings under contract in escrow). That was an improvement over January by 8.8%, but sales velocity underperformed the same period last year by 16.5%. Sales are trending upwards, just not at the rate we experienced a year ago.

Buyers are buying, though many still remain on the fence. Lower mortgage interest rates, more choices, better values and contract terms have spurred some buyers. However, anecdotally we’re hearing buyers with concerns about tech sector layoffs, financial markets & investment balances, and global events, keeping them on the sidelines for now.

There were 180 closed condo sales in February, reflecting a one-year decline of 9.6%. It also exhibited a one-month jump of 26.8%, which were likely closing lags from December’s pending transactions. Usually, closings lag behind pendings by a month, though it looks like number of December sales had extended closings into February.

In Summary…

February exhibited a fairly typical month for Seattle’s condo market as we progress through the new year. Sales activity and selling prices rose, though at a lower rate than we experienced in February 2025.

Interestingly, even though the number of condo listings available increased, fewer sellers brought new listings to market in February. That should change, I expect we’ll see more listings as we move on towards spring.

For Seattle condo sellers, spring is the prime season for Seattle’s real estate market. Historically, it’s the most active period with the highest number of condo sales and selling prices. There are more buyers in the market place, but also more competition from other sellers.

For condo buyers, they’ll usually encounter higher selling prices and competition from other buyers in certain neighborhoods. However, the market is sluggish overall and has been underperforming so they may have the upper hand, especially in condo dense neighborhoods around the downtown core.

Seattle Condo Market Statistics February 2026

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post February 2026 Seattle Condo Market Recap first appeared on Seattle Condos and Lofts.

Real estate transactions have long been susceptible to illicit financial activity, such as money laundering. And, real estate sales and transfers have been an ideal means to launder money.

In an effort to combat illicit activity, the US Treasury’s Financial Crimes Enforcement Network (FinCEN) is enacting expanded reporting requirements for real estate transactions effective March 1, 2026.

This requirement only applies to certain real estate transfers, thus it will not affect the vast majority of buyers or sellers. 

In a nutshell, the new reporting requirements for real estate transactions will be triggered when all three of the following conditions are met:

• Purchased by an entity, such as trusts, LLCs, corporations & partnerships.
• Residential properties (1-4 unit structures including individual condo and co-ops units, residential / commercial multi-use properties, vacant land intended to be used as residential).
• Purchased with other than conventional mortgage financing. That is, purchased with cash, hard money financing, gifts, seller financing, etc.

There are a few certain exemptions to the reporting requirements that may apply.

For transactions triggered by the reporting requirements, Escrow will collect the necessary information from buyers and sellers. They will then file it with FinCEN.  The required reporting information may include:

• Full legal name
• Street Address
• Date of Birth
• Email Address
• Phone Number
• IRS Taxpayer Identification Number

The information required will be dependent on several factors such as the reporting party, type of entity / trust, ownership interest, and so forth.

Escrow’s receipt of complete information from buyers and sellers are required in order to close the sale. If not received in time, or failure to provide the information to escrow, will delay the closing.

Additional Escrow fees for FinCEN related transactions and reporting may be incurred.

This post is meant to provide a high level overview only. For more detailed information, visit the FinCEN website at: https://www.fincen.gov/rre

The post FinCEN Reporting Requirements for Real Estate Transactions first appeared on Seattle Condos and Lofts.

Seattle’s condominium market started 2026 a bit shaky. In January, we saw more listings as expected, along with fewer sales, and a drop in median selling prices compared to last year. Although, January 2025 may have been an anomaly.

Seattle Condo Selling Prices Unravel

The Seattle citywide median sales price for condos was $577,000 for January. Overall, that was a decrease of 19.3% compared to January 2025, which was the all-time record high for Seattle condos at $689,975. A level we haven’t come remotely close to since. Compared to the prior month, however, the median sales price increased slightly by 0.4%.

Contributing to that was the greater number of high-valued properties that sold last January where 29 units, or 19% of the sales, were over $1,000,000. This January, only 15 units, or 10% of sales, were over $1,000,000. With the roughly the same number of units sold, the greater number of pricier units last year had adjusted the median mid-point upward compared to this year.

Separating the median selling price out between traditional condos and non-traditional condos, both property types still exhibited year-over-year decreases, though not as dramatic as the citywide figure. For traditional condos, the median selling price in January 2026 was $445,000, which represented a 12.9% year-over-year decrease. For non-traditional condos, the median selling price in January 2026 was $775,000, or a 5.8% drop from last January.

The Northwest MLS broadly defines condominiums to include traditional condo flats, as well as non-traditional property types such as townhomes, accessory dwelling units (ADUs), detached accessory dwelling units (DADUs), parking spaces, boat moorage and condoized single family houses. Single family houses are usually “condoized” when an ADU or DADU is built on the property. The original house and new ADU or DADU are set up as a 2 or 3 unit condominium.

Non-traditional properties are typically newer, larger and higher priced than the normal condo unit in a building. They represented 37.1% of all condo sales in January 2026, thus they have a significant impact on median selling prices throughout Seattle.

Listings Blossom

With our cyclical market place, the number of active Seattle condo listings for sale increase with the start of the new year. And, that was evident last month. We ended January with 765 units for sale in the NWMLS, a one-year and one-month increase of 21.6% and 26.7%, respectively. The actual number is a little higher as developers normally limit the number of units they list at any one time.

We started January with 604 listings and sellers added another 447 new listings throughout the month for a total of 1,051 units for sale. Of that number, 286 came off the market — these may have been units sold or in pending status, listings that expired or were cancelled, were rented out or came off the market for other reasons, leaving 765 at month end.

Also of note, there were more new listings this past January (447) compared to last January (394), a 13.5% increase. More sellers are selling so far this year.

As to composition of properties, of the current active listings as of the posting of this article, 77.1% of the listings are traditional and 22.9% are non-traditional.

In terms of supply, the inventory supply rate rose to 3.7-months of supply in January, placing Seattle’s condo market on the cusp between a seller’s market and a balanced market environment.

The inventory supply rate is a metric utilized to categorize the current market condition. A rate of less than 4-month of supply is considered a seller’s market. A rate between 4 to 7-months is a normal or balanced market. And, a rate more than 7-months would be a buyer’s market. We use pending transactions when calculating the supply rate, though closed sales is also used.

The market condition and supply can also be expressed as an absorption rate, which was 26.8%. A rate of over 20% is considered a seller’s market, between 10-20% a balanced market and less than 10% would be a buyer’s market.

Condo Sales Lag

There were 205 units that went into pending status (under contract in escrow) in January. That was 12% more than in December, which is not surprising as December is the slowest month for real estate sales. Unfortunately, that reflected a year-over-year decline of 8.9% from fewer buyers purchasing this January compared to last year. Fewer buyers are buying…so far.

The Spring season is the most active for Seattle’s condo and real estate market, so we should see an improvement in condo sales over the next few months.

Favorable interest rates may help spur more activity. However, the Seattle metro area has been rocked by some unpleasant employment news recently, particularly in the technology sector. Tech employees are the cornerstone of Seattle’s condo market buyers, so there is a potential the tech sector employment instability may impact the condo market.

There were 142 condo closings in January, reflecting a 1.4% and 29% decrease year-over-year and month-over-month, respectively. Closings lag pendings by a month, so we should see closings rise in February given the higher number of pendings in January.

In Summary…

Seattle’s condo market started 2026 a bit wobbly with a decrease in median selling prices and unit sales compared to last January.

Seattle’s condo results are skewed by the increasing number of non-traditional condo sales that affect statistics. In January, they represented 1 in every 3 condos sold (and 1 in 4 active listings). As they are usually newer, larger and more expensive, they adjust the median selling price mid-point upwards.

Seattle’s real estate market is cyclical as the seasons change. With the holiday season behind us, and the weather warming with longer daylight, the market starts to pick up with Spring being the most active time for real estate sales.

We will soon see the number of condo listings skyrocket providing buyers more options and potentially better prices and terms. That said, however, well-priced units in desirable locales where inventory is limited, buyers could very well encounter a more competitive environment. Though, the uncertainty with the tech sector employment may damper sales.

On the other hand, for sellers taking advantage of the prime selling season, there will be a plethora of competing properties. That may place downward pressure on pricing and longer market times. Fortunately, rates remain stable and buyers are still buying.

Seattle Condo Market Statistics January 2026

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post Seattle Condo Market Recap January 2026 first appeared on Seattle Condos and Lofts.

The Seattle Condo market finished off the year strong. The market shook off the winter doldrums and clocked in solid results in December. Median selling prices and unit sales increased, while inventory reduced.

Selling Prices Improve Slightly

The Seattle citywide condominium median sales price was $555,000 last month. That reflected a year-over-year increase of 0.9%, but dipped 3.2% from the previous month.

Breaking that down by NWMLS neighborhood areas, Northwest Seattle (+31.5%), West Seattle (+23.2%), South Seattle (+7.8%), Queen Anne / Magnolia (+6.8%) and Northeast Seattle (0.7%) realized gains in their median selling prices for the month of December.

Conversely, Downtown / Belltown (-20%), Southeast Seattle (-2.2%) and Capitol Hill / Central (-1.5%) exhibited declines. Click here to view complete neighborhood stats.

These are based on all condominium sales. However, the NWMLS has a broad definition of “condominium”, which includes properties not traditionally thought of as condos. These include the plethora of new townhomes, condoized single family homes, accessory dwelling units (ADUs), detached accessory dwelling units (DADUs), boat moorage and parking spaces.

These non-traditional condo properties are usually newer, larger and more expensive than the typical flat-style unit in a multi-unit building or complex. In December, they accounted for 31.9% of all condo sales with a median sales price of $749,925. Non-traditional condos made up a larger segment of the condo market compared to last December (31.9% vs 24.9%), but reflected a year-over-year decrease of 13.6% as well as a one-month dip of 1.2% in its median sales price.

Traditional condos, on the other hand, had a median sales price of $489,875 in December and realized an increase in its median sales price of 4.8% over the same period last year and 4.2% more than in November.

Inventory at Year End Low

As we’d expect for December, the slowest month for real estate in the Northwest, and historically having the fewest number of listings, reflected a drop in inventory. Seattle ended December with 604 condo units listed for sale in the NWMLS, a decrease of 31.1% from November. However, that was 13.8% more than we had last December.

We started the month with 877 listings. To that, sellers and developers added 144 new listings throughout the month for a total of 1,021 units for sale. Of that, 417 listings came off the market in December due to sales, cancellations, expirations, being rented out or for other reasons, leaving 604 listings at month end.

That said, the most active season for real estate begins with the start of the new year and carries on into Spring. Cyclically, the number of condo listings will increase rapidly before plateauing in Summer.

With fewer listings for sale and strong sales volume in December, the inventory supply-rate dropped last month to 3.3-months of supply. That, technically, moved Seattle back into a seller’s market environment.

The inventory supply rate is a metric utilized to categorize the current market conditions. A rate of less than 4-month of supply is considered a seller’s market. A rate between 4 to 7-months is a normal or balanced market. And, a rate more than 7-months would be a buyer’s market. We utilize pending transaction when calculating the supply rate, though closed sales is also used.

Seattle’s condo market briefly experienced normal market conditions last year and I suspect we’ll be back there by Spring time. Interestingly, Seattle, as a whole, as not been in a buyer’s market since 2010.

However, Seattle’s real estate is comprised of micro markets based on locale and price points. For instance, with a combination of fewer listings and greater sales, North Seattle, Capitol Hill and West Seattle exhibited a seller’s market environment based on the supply rate (under 4-months). The rest of the city reflected a normal market environment.

Condo Sales Stronger Than Usual for December

As hinted above, condo sales velocity increased in December with 183 properties going into pending status (accepted offers in escrow). That represented a one-year increase of 19.6% in sales, but a slight dip of 2.1% from the prior month. Although, that is to be expected given December is the slowest month for real estate sales.

There were 200 closings in December, reflecting a year-over-year and month-over-month increase of 12.4% and 23.5%, respectively. It appears there were a number of pending transactions from October with extended closings in December.

In Summary

The Seattle condo market closed out 2025 on a high note. Median selling prices and unit sales improved in December. That bucked the historic trend with December being the slowest month for sales and with lower selling prices.

Inventory dipped as is typical for December. However, combined with stronger sales volume, the inventory-supply rate moved into a seller’s market territory.

Seasonally, as the market makes its way from Winter into Spring, inventory will increase as sellers dust off the winter doldrums. And, buyers will enter the market that’ll give rise to unit sales and prices.

Seattle Condo Market Statistics December 2025

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post Seattle Condo December 2025 Market Recap first appeared on Seattle Condos and Lofts.