1. The Market Authority: The "So What" of the April Stats

If you’ve been watching the news, you might be confused. You’re hearing that home prices are still climbing, but you’re also seeing more "For Sale" signs lingering a bit longer. I’ve spent the morning digging into the April 2026 numbers compared to the first three months of the year, and the story is clear: The market is finally acting rational again.

The "So What" for Buyers: More Seats at the Table

Across the NWMLS, multiple offers are down 7%, and right here on the Eastside (Bellevue, Kirkland, Redmond, etc.), they’ve dropped by 11%. In Woodinville, they plummeted 20%.

So What? The "feeding frenzy" of Q1 is cooling. You finally have a moment to breathe and—most importantly—keep your protections in place. Financing addendums are up nearly everywhere (reaching 85% in Woodinville!), meaning sellers are once again accepting offers that aren't just "all-cash-no-questions-asked."

The "So What" for Sellers: Value is Up, but Strategy is King

Don't let the lack of bidding wars scare you. Pending prices in Woodinville are up a massive 10.1% this month, and Bellevue is up 8.1% (reaching a $2M average).

So What? Your home is worth more today than it was in January, but the days of "listing it and forgetting it" are over. With multiple offers decreasing, your home needs to be priced correctly and presented with integrity from day one. Buyers are being more selective because, for the first time in a while, they can afford to be.

The Hidden Advantage: Negotiating the "Sticker Price"

Keep in mind that even the latest figures can mask a significant hidden benefit: with prices up but multiple offers and cash deals down, sellers are now more willing to accept offers that include closing cost credits.

For example, on a recent luxury townhome purchase in Queen Anne, we were able to negotiate over $60,000 in total value for my client. We structured this as a mix of closing cost credits, a $7,500 appliance credit, and a direct price reduction. In this market, the list price is often just the start of the conversation, not the final word.

The Other Side of the Story: The Condo Market

While the residential market for single-family homes is showing price growth alongside cooling competition, the condo market is telling a much more volatile—and arguably more opportunity-rich—story. If you’ve felt priced out of a house, the April condo data suggests the door might be swinging open.

Condos vs. Residential: The Great Divergence

In the residential sector, we saw prices climb while multiple offers softened. In the condo world, we are seeing price corrections.

• The Valuation Gap: Across the 3-county MSA, condo pending prices are down 5% this month. While residential multiple offers are still hovering around 25%, condo multiple offers are nearly half that at 14%.
• The "So What": If you are a buyer, the residential market offers you a "rational" pace, but the condo market is offering you actual downward price flexibility. With financing addendums up to 78%, condo sellers are increasingly open to traditional, protected offers.

City Highlights: A Tale of Two Eastsides

The Eastside condo market is currently a study in extremes, indicating a "mix shift" in the types of units selling.

• Bellevue’s Statistical Wildcard: Pending prices in Bellevue dropped 29.2% to $545,000. However, the sale-to-list price ratio shot up 20% to a high of 117%. This suggests a surge in smaller, entry-level units selling quickly above ask, while high-end luxury towers remain on the market longer.
• Woodinville’s Luxury Surge: In total contrast, Woodinville condo prices spiked 26.6%, breaking the million-dollar mark ($1,004,995). Interestingly, multiple offers here dropped to 0.0%, indicating a "one buyer, one seller" environment without the bidding wars.
• Redmond & Kirkland: Redmond saw a 16% price increase ($725,000), while Kirkland saw a 20.8% drop ($815,000). Despite the price drop, Kirkland is actually getting more competitive, with multiple offers up 12%.

The Bottom Line: The condo market is currently the "wild west" of the Eastside. For sellers, your specific building's data matters more than the general news. For buyers, there is a massive window of opportunity in Bellevue and Kirkland to find value that simply didn't exist in the first quarter of the year.

If these numbers have you rethinking your 2026 plans—or if you just want to grab a coffee and talk about the market value of your specific property—my door is always open. No pressure, no hype, just a straight look at the value.

About Kurt Kreager: A Greater Seattle Eastside authority since 2013, Kurt is a Managing Broker and former licensed contractor who views real estate through the lens of integrity and long-term value. From "Backyard Goldmines" (DADUs) to navigating complex 2026 housing laws, Kurt prioritizes serving people over chasing the next dollar.