Summer 2026 Real Estate Update: Inventory Climbs as the Market Finds Its Balance

As we move into the heat of the summer market, the Northwest real estate landscape is undergoing a noticeable shift. For the first time all year, buyers are finally seeing a meaningful bump in selection.

According to the latest NWMLS data, active listings across Washington jumped 16.4% year-over-year in June, putting over 23,000 homes on the market. While mortgage rates creeping back up to 6.49% have tested affordability, buyer demand remains remarkably resilient. Closed sales actually ticked up 2.3% compared to last June, proving that well-priced homes are still moving.

(Read the full NWMLS June Press release HERE)

But when we zoom in on King County and the Greater Eastside, the broader state data only tells half the story.

The Big Picture: Single-Family vs. Condominiums

A clear divergence is forming between the single-family home market and the condominium market, particularly regarding inventory and competition.

• Single-Family Homes are Still Competitive: Across King County, single-family homes sit at a 3.6-month supply. While that's an improvement for buyers, it still favors sellers. The City of Seattle is the hottest single-family market right now, with homes moving in just 8 days on average and 25% of transactions seeing multiple offers.
• Condos are Hitting "Balanced Market" Territory: Condominium inventory is stacking up faster. King County condos are now sitting at a 5.4-month supply. On the Eastside, Bellevue, Kirkland, and Redmond condos are all hovering between 5.5 and 5.8 months of supply. As inventory builds, multiple offer situations on condos have cooled significantly (down to just 6% in Bellevue and 8% across King County).

Outliers & Notable Shifts on the Eastside

When we look at the localized data, a few specific areas are bucking the overall trends:

• Kirkland Single-Family Cooling: Kirkland saw a steep 14.8% drop in the Unpublished Pending Price (UPP) compared to last month. With a 5.0-month supply of single-family homes, buyers in Kirkland are gaining serious leverage to negotiate.
• Redmond Condos Spike: While condo prices cooled in many areas (Bellevue condos were down 16.3% month-over-month), Redmond condos saw a massive 15.4% jump in pending prices, alongside a surprising surge in multiple offers.
• List-to-Sale Ratios Hold Steady: Despite the shifting inventory, sellers who price correctly are still getting what they ask. Across almost all our local markets—both single-family and condo—the UPP-to-List ratio remains stubbornly high at 97% to 100%. Pierce County single-family homes, for example, are selling exactly at 100% of the asking price on average.

What This Means for You

• For Buyers: You finally have breathing room. The frantic pace of the spring market has yielded to a more typical summer slowdown. With higher inventory and days on market stretching out (averaging 12-14 days for Eastside single-family homes), you have more time to tour homes, weigh your options, and avoid waiving major contingencies.
• For Sellers: The market is still moving, but pricing strategy is more critical than it has been in years. The days of throwing a high number on the MLS and expecting an immediate bidding war are largely behind us. With buyers navigating 6.49% interest rates, they are being highly selective.

If you’d like to discuss what this data means for your specific neighborhood or plans, let's grab coffee and chat—no pressure, just honest advice and solid data.

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.