More inventory, stronger buyer activity, and rising Snohomish County prices define the spring market

The Seattle-area housing market remained active through April 2026. The highlights of the early Spring market include:

• Inventory is up sharply from last year
• Pending sales are also up
• Snohomish County prices continued rising
• King County prices pulled back slightly after a strong March
• Mortgage rates improved from last year, but remain above February’s lows

This is not the overheated pandemic market. But it is also not a soft market. 
Buyers have more choices than they did last year, yet desirable homes are still seeing competition.

King County Home Prices

The median home price in King County was $856,750 in April 2026.

King County prices increased sharply early in the year:

• +7.82% from January to February
• +4.08% from February to March

April then softened slightly:

• −1.52% from March to April

King County’s recent peak was $920,000 in June 2025.  That means April pricing is now:

• 6.88% below the 2025 peak

Year over year, King County’s median price was down from $910,000 in April 2025 to $856,750 in April 2026, a decline of 5.85%.

Snohomish County Home Prices

Snohomish County showed stronger spring price momentum. The median home price in Snohomish County was $750,000 in April 2026.

Snohomish County prices rose each month:

• +8.05% from January to February
• +1.53% from February to March
• +2.04% from March to April

Snohomish County’s recent peak was $799,950 in May 2025. That means April pricing is now:

• 6.24% below the 2025 peak

Year over year, Snohomish County’s median price increased from $749,000 in April 2025 to $750,000 in April 2026, a gain of 0.13%.

Inventory Is Up Sharply From Last Year

Inventory is one of the biggest changes in this market.

King County Inventory

King County reached 3.3 months of inventory in April 2026, up from 2.4 months in April 2025. That is a 37.50% year-over-year increase. For historical context, the average April inventory level from 2016–2025 was 1.34 months.

So today’s King County inventory is:

• higher than last year
• higher than the 10-year April average
• still below the 4–6 months often associated with a fully balanced market

This gives buyers more selection than they had last spring, but not enough supply to create a clear buyer’s market.

Snohomish County Inventory

Snohomish County reached 2.7 months of inventory in April 2026, up from 1.5 months in April 2025. That is an 80.00% year-over-year increase.

The average April inventory level from 2016–2025 was 1.05 months.

Snohomish County has also moved meaningfully above its recent historical April average. That said, inventory remains tighter than King County, which helps explain why Snohomish County prices continued rising through April.

Active Listings Are Higher, But Demand Is Also Higher

More homes are available than last year, but buyers are also writing more contracts.

Active Listings

This is a major improvement for buyers. But higher inventory does not automatically mean weaker demand.

Pending Sales

Pending sales increased in both counties. That means more sellers are entering the market, but buyers are still absorbing homes at a healthy pace. This is why prices remain resilient.

Mortgage Rates: April 2026 vs Last Year

Mortgage rates improved compared with last spring. According to your mortgage rate data:

April’s rate of 6.30% was down from 6.76% in April 2025.  That is a decline of 0.46 percentage points year over year.

Rates are no longer below 6%, as they were in February, but they remain meaningfully better than last April.

For buyers, that helps affordability.
For sellers, it supports demand.

Buyer Competition Is Still Real

The Northwest MLS Pending Listing Report for King and Snohomish counties shows that competition remained active in April.

• 30% of pendings received multiple offers
• 13% included escalation addendums
• 26% included waived financing contingencies
• 59% included waived inspection contingencies

Keep in mind, a waived inspection often means a buyer reviewed a seller provided inspection report or did their own inspection prior to submitting a competitive offer. Very few buyers are forgoing actually performing or reviewing an inspection report during the offer process.

Overall, these perspectives show stronger offers are becoming more common again, especially for well-priced homes in desirable locations.

Days on Market Shows Buyers Are Moving Faster

Homes are taking longer to sell than they did last year, but they are moving faster than they were earlier this year.

King County

• 57 days in January
• 44 days in February
• 31 days in March
• 27 days in April

Year over year, King County DOM increased from 20 days in April 2025 to 27 days in April 2026.

Snohomish County

• 54 days in January
• 46 days in February
• 34 days in March
• 28 days in April

Year over year, Snohomish County DOM increased from 20 days in April 2025 to 28 days in April 2026.

So buyers have more time than last year. But the market has clearly accelerated since winter.

List-to-Sale Ratios Show a More Balanced Market

The list-to-sale price ratio also shows a less aggressive market than last spring.

King County

• April 2026: 99.1%
• April 2025: 101.2%

Snohomish County

• April 2026: 99.2%
• April 2025: 100.4%

Homes are generally selling slightly below list price on average.

That creates room for negotiation.

But with multiple offers still occurring on a meaningful share of listings, pricing strategy remains critical.

What This Means for Buyers

Buyers have more opportunity than they did last year.

You now have:

• more active listings
• more months of inventory
• more time than last spring
• mortgage rates lower than April 2025

But competition has not disappeared.

With 30% of April pendings receiving multiple offers, buyers still need to be prepared, especially for homes that are well priced and move-in ready.

What This Means for Sellers

Sellers still have a strong market, but it is more selective.

The homes performing best are usually:

• priced correctly
• prepared well
• marketed aggressively
• positioned clearly against competing listings

Higher inventory means buyers have more choices.

That makes pricing and presentation more important than they were during the low-inventory years.

Looking Ahead

The Puget Sound housing market is moving into summer with more balance than we saw in recent years.

The key trend to watch is whether inventory continues rising faster than pending sales.

Right now, both supply and demand are up.

That creates a market where:

• buyers have more options
• sellers still have strong demand
• pricing is more sensitive to condition, location, and strategy

For many households, this may be one of the more practical markets we have seen in several years.

Thinking About Buying or Selling?

If you are considering a move this year, the right strategy matters.

We can help you understand:

• what your home is worth today
• how your neighborhood compares to the broader market
• whether buying now or waiting makes more sense
• how to prepare your home for the strongest possible result

You can also join us at our next Sips & Tips Real Estate Class, where we discuss local market trends and practical strategies for buyers and sellers.

Learn more at:

https://www.connectingyouhome.com/sipsandtips