Local Market

Seattle Market Updates

Phil James tracks Seattle housing market conditions week by week — absorption rates, inventory, and what it means for buyers and sellers in the city.



  • Phil James Realtor®
    John L. Scott Real Estate | Bellevue Main

    Week of May 23, 2026

    Seattle: Steady,
    Active, and Moving

    Seattle is holding in line with where it was at this same point last year. Supply is healthy, buyers are engaged, and there’s slightly more room to move than in some surrounding markets. Here’s what I’m seeing.

    Seattle Absorption Rate
    43.8%
    4-week rolling avg · vs. 43.9% same period 2025

    Year-Over-Year
    Flat
    Stable and consistent with last spring’s pace

    New Listings This Week
    1,607
    Across all 9 regional markets · week ending May 22

    What I’m Watching This Week

    Seattle is holding steady, essentially in line with where it was at this same point last year. Supply is healthy, buyers are engaged, and the market is moving — just not accelerating the same way the suburbs are. For sellers in Seattle, presentation and pricing discipline remain essential. For buyers, there is slightly more room to move than in some of the surrounding markets.

    This week brought a healthy wave of new inventory across every market. More options are available now than at any point this spring, and the additional supply gives buyers real choices without the same urgency as earlier in the season.

    What This Means for You

    If You’re Thinking About Selling

    Presentation and pricing discipline remain the deciding factors in Seattle. The market is active and buyers are engaged, but this is not a market where homes sell themselves. The spring window for strong results is still open — getting the work done now, before the summer slowdown, matters.

    If You’re Thinking About Buying

    Seattle offers slightly more breathing room than some of the surrounding suburban markets right now. More options are available than at any point this spring, and the pace gives you a bit more time to be deliberate. That said, well-priced, well-prepared homes are still moving — don’t mistake steady for slow.

    What I keep coming back to this week:

    “Seattle is holding steady with last year’s pace — stable, active, and moving. The acceleration is happening in the suburbs. But that doesn’t mean Seattle is sitting still.”

    PJ
    Phil James
    Realtor® · John L. Scott Real Estate · Bellevue Main

    Questions about what this means for your specific situation? I’m happy to talk.

  • Phil James Realtor®
    John L. Scott Real Estate | Bellevue Main
    Week of May 16, 2026

    What I’m Seeing
    in the Seattle Market This Week

    Fewer new listings came to market in Seattle this week than at this same point last spring. About 10 percent fewer. When supply tightens while buyers remain engaged, competition concentrates around what’s available. Here’s what that looks like right now.

    Seattle: New Listings
    382
    Week ending May 15 · down ~10% vs. last spring
    Most Recent Week 1 Rate
    30.70%
    Week ending May 8 · 355 listings
    Largest Inventory Segment
    $750K–1M
    105 new listings this week

    8-Week Trend: New Listings Under Contract in Week One

    Percentage of new resale listings going under contract within the first 7 days. A higher number means buyers are acting faster and sellers have more urgency on their side.

    Seattle

    382 homes came to market in Seattle this week, compared to 425 at this same point last spring. That’s a 10 percent decline year-over-year. Week 1 absorption data isn’t complete for this week yet, but recent weeks have held above 30%, and reduced supply tends to concentrate buyer activity around fewer options.

    Eastside

    The Eastside has been tracking around 20 to 21% Week 1 absorption in recent weeks, softer than Seattle’s pace. With supply also tightening across both markets, the combination of lower inventory and still-active buyers creates a different dynamic than we’ve seen through most of 2025.

    Seattle: New Listings by Price Tier | Week Ending May 15

    New listing count by price tier, week ending May 15. Week 1 absorption data is not yet complete for this week. The most recent complete Week 1 read (May 8) showed 30.70% across all Seattle listings.

    Price RangeNew ListingsNote
    Under $350K19
    $350K–$500K33
    $500K–$750K76
    $750K–$1M105Largest segment this week
    $1M–$1.5M80
    $1.5M–$2M39
    $2M+30
    Total382Down ~10% vs. same week 2025

    What This Means for You

    If You’re Thinking About Selling

    Fewer homes coming to market generally works in a seller’s favor, particularly in price ranges where buyer demand has been consistent. The $750K to $1.5M range in Seattle has been the most active this spring. If you’ve been thinking about your timing, tighter supply through the back half of May is a dynamic worth paying attention to. Homes that come in well-positioned are getting real attention quickly.

    If You’re Thinking About Buying

    When new listings slow down, the patience game gets harder. A home you’re considering now may not be replaced by something comparable next week. That doesn’t mean every home draws ten offers by Sunday, but it does mean that sitting on a property while waiting for something better carries more risk than it did when listings were flowing more freely.

    What I keep coming back to this week:

    “Supply in Seattle tightened this week, about 10 percent fewer new listings than at this same point last spring. That’s a meaningful shift. When buyers are still engaged and fewer homes are coming to market, the homes that do come in well get attention quickly.”

    PJ
    Phil James
    Realtor® · John L. Scott Real Estate · Bellevue Main

    If you have questions about what this data means for your specific situation, whether you’re thinking about selling, buying, or just want to know where things stand, reach out. There’s no obligation. Just a real conversation.

  • Phil James Realtor®
    John L. Scott Real Estate | Bellevue Main
    Week of May 9, 2026

    What I’m Seeing
    in the Seattle Market This Week

    More listings came to market in Seattle this week than at this same point last spring, and the pace of homes going pending is holding ahead of where it was a year ago. Buyer demand in Seattle is real right now. Here’s what that looks like by price.

    Seattle: Week 1 Absorption
    30.70%
    Week ending May 8 · 355 listings
    Eastside: Week 1 Absorption
    20.63%
    Week ending May 8 · 320 listings
    Seattle Hottest Segment
    $1.5M–2M
    46.43% under contract in 7 days

    8-Week Trend: New Listings Under Contract in Week One

    Percentage of new resale listings going under contract within the first 7 days. A higher number means buyers are acting faster and sellers have more urgency on their side.

    Seattle

    Seattle held at 30.70% Week 1 absorption this week, slightly ahead of the 28.86% at this point last year. That’s notable because listings also came in above last year’s pace. More supply and sustained velocity at the same time signals real buyer activity, not just constrained inventory driving the numbers.

    Eastside

    The Eastside is tracking meaningfully below Seattle right now, with Week 1 absorption at 20.63% compared to roughly 28% at this point in 2025. Supply came in essentially flat year-over-year on the Eastside, so the gap is in buyer response pace, not listing volume.

    Seattle by Price | Where Buyers Are Moving Fastest

    Week 1 absorption by price tier, week ending May 8. The dashed line shows the current Seattle Week 1 rate. This shows where buyer activity is concentrated in Seattle right now.

    Seattle: Week 1 Absorption by Price Tier | May 9, 2026

    Price RangeWeek 1 Pend Ratevs. Last YearMarket Signal
    $500K–$750K20.99%Notably strongerSelective
    $750K–$1M41.94%StrongerStrong
    $1M–$1.5M39.13%Essentially flatStrong
    $1.5M–$2M46.43%Notably strongerVery Strong
    $2M+27.78%Notably softerHealthy

    What This Means for You

    If You’re Thinking About Selling

    The $750K to $1.5M range in Seattle is performing well right now. The $1.5M to $2M segment hit 46.43% Week 1 absorption, the strongest read of any tier this week. Well-priced, well-prepared homes in this window are getting real attention from buyers who are ready to move. The $2M+ segment is softer and requires more patience, but the middle market is active.

    If You’re Thinking About Buying

    Seattle is more competitive than the Eastside right now, and buyers need to account for that. The $750K to $1.5M range is where pace is highest, with absorption approaching and exceeding 40% in those tiers. If you’re in that window, knowing what you want before you start looking is going to matter. Waiting on a home you like carries more risk here than it does on the Eastside.

    What I keep coming back to this week:

    “Seattle and the Eastside are reading from different pages right now. Seattle is tracking ahead of last spring. The Eastside has slowed from where it was a year ago. That gap matters for anyone deciding between markets, and it shapes the strategy on both sides.”

    PJ
    Phil James
    Realtor® · John L. Scott Real Estate · Bellevue Main

    If you have questions about what this data means for your specific situation, whether you’re thinking about selling, buying, or just want to know where things stand, reach out. There’s no obligation. Just a real conversation.

  • Phil James Realtor®
    John L. Scott Real Estate | Bellevue Main
    Week of May 2, 2026

    What I’m Seeing
    in the Seattle Market This Week

    New listings in Seattle came in essentially flat compared to last spring. The pace at which homes are going pending has eased from a year ago. But the $1M to $1.5M range is still moving at a pace that gets sellers’ attention. Here’s what I’m watching.

    Seattle: Week 1 Absorption
    30.92%
    Week ending May 1 · 346 listings
    Eastside: Week 1 Absorption
    ~25.6%
    Week ending Apr 24 · reference
    Seattle Hottest Segment
    $1M–1.5M
    47.95% under contract in 7 days

    8-Week Trend: New Listings Under Contract in Week One

    Percentage of new resale listings going under contract within the first 7 days. A higher number means buyers are acting faster and sellers have more urgency on their side.

    Seattle

    Seattle came in at 30.92% Week 1 absorption this week, down from 35.33% at this same point in 2025. That’s a softer read year-over-year, though still meaningfully ahead of Eastside pace. Supply came in essentially flat compared to last spring, which tells me the slower pace is in buyer response, not a surge of new inventory.

    Eastside

    The Eastside has been tracking around 25% Week 1 absorption in recent weeks, softer than Seattle’s pace and well below where it was in spring 2025. That gap is real and worth understanding if you’re comparing activity levels across markets.

    Seattle by Price | Where Buyers Are Moving Fastest

    Week 1 absorption by price tier, week ending May 1. The dashed line shows the current Seattle Week 1 rate. This shows where buyer competition is concentrated in Seattle right now.

    Seattle: Week 1 Absorption by Price Tier | May 2, 2026

    Price RangeWeek 1 Pend Ratevs. Last YearMarket Signal
    $500K–$750K30.67%AheadStrong
    $750K–$1M33.33%SofterStrong
    $1M–$1.5M47.95%Essentially flatVery Strong
    $1.5M–$2M20.69%SofterSelective
    $2M+35.71%AheadStrong

    What This Means for You

    If You’re Thinking About Selling

    The $1M to $1.5M range in Seattle stands out right now. Nearly half of new listings in that price band found buyers in the first week. That’s a level of activity that rewards sellers who come in well-priced and well-prepared. The overall absorption rate is softer than last spring, which means condition and pricing matter more than they did in 2024, but in the right segment the opportunity is real.

    If You’re Thinking About Buying

    Buyers in Seattle have slightly more breathing room than they did last spring, but the experience varies significantly by price point. The $1M to $1.5M range is still moving at nearly 48% in Week 1, and the $2M+ segment is tracking ahead of last year. If you’re in either of those ranges, being ready to move quickly on the right home still matters. Know your segment before you start.

    What I keep coming back to this week:

    “Seattle came in essentially flat on new listings compared to last spring, but the pace of pending activity has eased from where it was a year ago. The story isn’t uniform across price points. The $1M to $1.5M range is still moving at nearly 48% in Week 1. Preparation and pricing are doing the work this spring.”

    PJ
    Phil James
    Realtor® · John L. Scott Real Estate · Bellevue Main

    If you have questions about what this data means for your specific situation, whether you’re thinking about selling, buying, or just want to know where things stand, reach out. There’s no obligation. Just a real conversation.