Heidi Mitchell - Seattle Real Estate Professional

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King County Real Estate Market Update: March 2026
Based on the March 2026 data from the Northwest Multiple Listing Service, the King County real estate market is currently characterized by a significant surge in inventory and a slight cooling in sales volume compared to last year. While the market remains active, the "months of inventory" has increased across both residential and condo sectors, offering more choices for buyers.

The "Dual-Speed" Market
The current market is behaving in two distinct ways. On the ground, I have seen some homes and condos with multiple offers, specifically those that hit the "sweet spot" of preparation and pricing. Conversely, other properties are sitting on the market longer than we’ve seen in recent years.

Buyers are selective and want value right now. With the average rate at 6.3% for a 30-year fixed mortgage, purchasing power is a top priority. Consequently, sellers need to appropriately price their homes for the condition and location of the property to stand out in an increasingly crowded field.

Residential (Single-Family) Market Highlights
The residential sector is seeing a notable "inventory pop" as we move into the spring season.
�Inventory Surge: Total active listings have jumped 41.63% year-over-year, providing 3,147 homes for buyers to choose from.��Sales Activity: Both pending and closed sales saw slight declines of 4.36% and 3.35% respectively.��Pricing: The median sales price has remained remarkably stable at $975,000, representing a negligible 0.26% dip from March 2025.�
Condominium Market Highlights
The condo market is experiencing similar inventory growth but with a more pronounced dip in closed transactions.
�Available Supply: Active listings are up 24.70% compared to last March.��Price Growth: The median condo price rose 7.27% to $590,000, showing continued demand for more accessible price points.

Bottom Line
Whether you are looking to buy or sell, strategy is key. Sellers must be realistic about their entry price to attract the "multiple offer" crowd, while buyers can take advantage of the 41.63% increase in residential inventory to find a home that truly fits their needs.