Puget Sound Market Update: What Buyers & Sellers Need to Know Right Now

If you've been watching the headlines and wondering whether now is the right time to buy or sell, here's the honest answer: it depends on where you are and what you're trying to do. The market across King, Snohomish, Pierce, and Kitsap counties has shifted meaningfully over the past year, and the story looks different county by county. Here's what's actually happening, straight from the numbers.

The Big Picture

Across the Northwest MLS service area, the median sales price in July came in at $640,000, down about 1.5% from a year ago. That's a modest dip, not a crash — but it reflects a bigger shift underneath the surface: inventory. Active listings across the region are up nearly 20% year over year, giving buyers meaningfully more to choose from than they had in 2025. At the current pace of sales, it would take roughly 3.7 months to sell through everything on the market. That's still below the 4-6 month range that's considered a truly balanced market, but it's a very different environment than the ultra-tight seller's markets of a few years ago.

King County: Prices Holding, Choices Growing

King County settled into a balanced market this summer, with about 3.1 months of inventory. The median sold price for residential homes landed around $995,000, down just 1% from last year but ticking up slightly from June — a sign pricing may be leveling out rather than continuing to slide. Active listings rose about 24% from a year ago, and closed and pending sales both dropped 10-11%, which tells me buyers have more leverage and are taking their time.

Condos in King County are where buyers have the most negotiating room right now — inventory sits at nearly 6 months, roughly 20% more condos on the market than last July, with the median condo price down to $524,000. If you're selling a condo, presentation and pricing strategy matter more than ever in this segment.

Snohomish County: More Inventory, Steady Demand

Snohomish County buyers have considerably more selection than they did a year ago — active listings jumped about 37% year over year, one of the largest increases in the state. Despite that, closed sales held fairly steady, and the median sales price came in at $746,000, down from $799,000 last July. Homes are still moving at a reasonable clip, averaging 29 days on market, and sellers are getting about 99% of their final list price. Snohomish remains one of the tighter markets in the region at just over 3 months of inventory.

Pierce County: Still One of the Tighter Markets

Pierce County continues to offer relative affordability, with inventory sitting around 3 months — tighter than King County and reflecting continued demand for the county's price point. Median prices here remain well below the King and Snohomish medians, which keeps Pierce attractive to buyers who've been priced out closer to Seattle.

Kitsap County: The Tightest Market in the Region

Of the counties I work in, Kitsap currently has the least inventory at just 2.28 months — meaningfully tighter than a balanced market. If you're a seller in Kitsap, this is still very much your market. Well-prepared, well-priced listings are moving quickly.

What This Means If You're Selling

More inventory means more competition for buyer attention. The homes that are still selling quickly and near asking price are the ones that are priced right from day one and show well — clean, decluttered, and staged to make a strong first impression online, where the vast majority of buyers start their search. This is exactly the kind of market where a strong pricing strategy and presentation plan make the biggest difference in your final sale price.

What This Means If You're Buying

You have room to breathe. With inventory up across nearly every county in our region, you're less likely to be steamrolled into a rushed decision or an aggressive bidding war than you were even a year ago. That said, in tighter markets like Kitsap and Snohomish, well-priced homes are still moving fast — so it still pays to be prepared and pre-approved before you start touring.

Thinking About Your Next Move?

Every neighborhood — sometimes every block — tells its own story within these countywide numbers. If you're weighing whether to list this fall or want a realistic read on what your home would sell for in today's market, I'd love to walk through it with you.

Arielle Albinger Sold by Arielle A. | Real Broker LLC 📧 soldbyarielle@gmail.com | 📞 425.829.2792 soldbyariellea.com

Sources: Northwest Multiple Listing Service (NWMLS) Market Snapshot, July 2026; local market reporting from licensed NWMLS brokers. Data reflects the most recently reported monthly figures as of publication and is subject to revision.