Market Overview
The Northwest Seattle housing market shows resilience, with the median sale price reaching $974,621 based on the 95 ZIP codes tracked below. This reflects a modest increase of 0.6% compared to the previous month, indicating a stable market despite fluctuations in inventory and new listings. The median days on market (DOM) for homes sold in this period was 29 days, which is a slight increase of 2.1% from the prior month, suggesting that while homes are still selling relatively quickly, buyers may be taking a bit more time to make decisions.
In terms of demand, the total inventory in the sales market stands at 13,067 homes, with 1,604 new listings reported this month. This represents a significant decline of 80.6% in new listings compared to previous months, highlighting a tightening market that could lead to increased competition among buyers. The rental market is also seeing a shift, with a median rent of $2,504, up 5.2% from the previous month, and a total of 1,841 rental listings available.
Key metrics at a glance
Supply & Demand
Inventory levels in Northwest Seattle have shown a stark contrast this month, with total active listings at 13,067. The drop in new listings to 1,604 is particularly noteworthy, as it signifies a 80.6% decrease from the previous month, which could lead to heightened competition among buyers. This reduced supply is likely contributing to the upward pressure on prices, as demand remains robust.
In the rental market, the total inventory is reported at 7,847 units, which is down 76.6% from previous months. This sharp decline in available rental properties, coupled with rising rents, suggests a significant imbalance between supply and demand, favoring landlords and property owners.
6-Month Sales Trend
This chart shows median sale prices over the past six months.
| Month | Median Price | Median DOM | New | Total |
|---|---|---|---|---|
| Dec 2025 | $928,149 | 66 | 1,127 | 9,633 |
| Jan 2026 | $942,417 | 57 | 2,896 | 9,108 |
| Feb 2026 | $954,633 | 35 | 3,189 | 10,271 |
| Mar 2026 | $962,328 | 29 | 4,047 | 11,703 |
| Apr 2026 | $974,142 | 30 | 4,431 | 13,185 |
| May 2026 | $974,106 | 30 | 1,430 | 13,892 |
Sales by Property Type
| Type | Median Price | DOM | Listings |
|---|---|---|---|
| Condo | $469,597 | 41 | 2,937 |
| Land | $860,965 | 82 | 672 |
| Manufactured | $292,294 | 49 | 426 |
| Multi-Family | $1,192,513 | 66 | 209 |
| Single Family | $1,227,430 | 23 | 7,680 |
| Townhouse | $743,439 | 38 | 1,971 |
Rental Market
The rental landscape in Northwest Seattle is demonstrating notable trends. The median rent for single-family homes has surged to $3,243, reflecting a strong demand for this property type, which is the fastest renting segment. For apartments, the median rent stands at $1,855, while townhouses command a median rent of $3,338.
Breaking it down by bedroom count, the median rent for a 2-bedroom unit is $2,383, while a 3-bedroom unit fetches about $3,434. The rental market is particularly competitive for larger units, with 4-bedroom rentals averaging $4,168. This indicates a strong demand for multi-bedroom properties, likely driven by families and groups seeking more space.
6-Month Rental Trend
This chart shows median rents over the past six months.
| Month | Median Rent | Median DOM | New | Total |
|---|---|---|---|---|
| Dec 2025 | $2,418 | 26 | 2,571 | 7,859 |
| Jan 2026 | $2,390 | 22 | 2,726 | 8,005 |
| Feb 2026 | $2,371 | 21 | 2,342 | 7,962 |
| Mar 2026 | $2,369 | 20 | 2,240 | 7,708 |
| Apr 2026 | $2,332 | 17 | 2,327 | 7,670 |
| May 2026 | $2,371 | 18 | 1,413 | 7,635 |
Rentals by Property Type
| Type | Median Rent | DOM | Listings |
|---|---|---|---|
| Apartment | $1,862 | 71 | 4,669 |
| Single Family | $3,313 | 10 | 1,776 |
| Condo | $2,098 | 18 | 635 |
| Multi-Family | $2,510 | 30 | 77 |
| Townhouse | $3,350 | 23 | 480 |
| Manufactured | $3,700 | 75 | 1 |
Price-to-Rent Ratio
The current price-to-rent ratio in Northwest Seattle can be calculated using the median sale price of $974,621 and the median rent of $2,504. This results in a ratio of approximately 32.5, indicating that it is more favorable to rent than to buy in the current market. A higher price-to-rent ratio often suggests that home prices are elevated relative to rental prices, which may deter some potential buyers, especially first-time homebuyers or those with tighter budgets.
Investor Opportunity
For investors in Northwest Seattle, the current market dynamics present several strategic opportunities. The fastest-selling property type is single-family homes, with a median price of $1,229,451 and a DOM of just 22 days. This segment is particularly appealing due to its strong demand and quick turnover. Additionally, larger homes, such as those with 7 bedrooms, are seeing median prices around $2,429,205, with only 2 new listings this month, indicating a niche market that could yield high returns if managed effectively.
Investors should also consider the rental market, where single-family rentals are moving quickly and commanding high rents. With a median rent for single-family homes at $3,243, there is a clear opportunity for cash flow generation, especially in a market where inventory is tight.
Market Health & Outlook
Overall, the Northwest Seattle housing market is currently Bullish. The continued rise in median sale prices, coupled with a decrease in inventory and new listings, signals a strong demand that outstrips supply. While the slight increase in days on market might suggest some buyer hesitation, the overall trend points to a competitive environment that is likely to sustain price growth in the near future. As long as demand remains robust and inventory continues to tighten, the market is poised for further appreciation.