June 2026 Market Update
As we head into June, the market finally showed some more typical Spring like numbers. Median price jumped to a year high of over 900k in West Seattle. Median price had been mostly flat since the beginning of the year. Closed sales and pending numbers also rose from the previous month and from a year ago. Inventory numbers are up MoM and YoY and just up slightly over past years. Inventory numbers generally peak in the Summer months.
Median price took a big jump over the past couple of months. 37 of the closed sales received over 100% List Price/Sales Price and 40 were below asking. This home went 252k over asking!
The above graph shows median price (midpoint) and the below shows average price. Last month almost matched previous all-time high’s in Average price (June 2025). The higher end market is definitely performing well.
Inventory is up which is typical of this time of year. We generally see the most amount of new listings in April and May. We saw 182 listings come to market last month and 184 in April. For comparison, we saw 200 in May of 2025 and 141 in April of that year. We would expect for numbers to level out over the next couple of months as we see less new listings and slower pending numbers.
May was a busy month with 124 closed sales. 56 of these were for over a million dollars. That segment remains a very active market. View and waterfront homes were in high demand in the luxury market. Here are the five highest prices sales from last month.
Pending numbers have remained strong since the beginning of the year. The market tends to level out as we get into summer months so will watch this indicator.
Seattle Metro saw the same rise in Median as West Seattle, ending at over 1M for the first time since last October. Closed and Pending numbers stayed steady but did see an increase in inventory. At 1498 available homes, it is the highest level since June 2019. That will be an interesting number to watch as head into the Summer. 2019 was a slightly downward trending market.
Here is the past 10 years of Median pricing (rolling 12 month data).
Interest rates were just under 6.5% for a fixed rate 30yr this am and hovered between 6.25-6.6% most of the month. This Seattle Times article talks about most home owners facing typically over $5,000 monthly mort