ZIP 98040 Housing Market Report
Northwest Seattle
Report period: May 2026
98040 Monthly Market Update – May 2026
ZIP 98040 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$2,595,000
+0.8%
Median DOM (Sales)
22
0.0%
New Listings (Sales)
14
−72.5%
Median Rent
$2,675
+7.0%
Median DOM (Rental)
30
+20.0%
Total Rental Listings
29
−3.3%
Month-over-Month Movement
Median sale prices moved higher. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (19 DOM)
- Fastest renting: Single Family (10 DOM)
- Strongest bedroom: 7 Beds ($6,800,000 median)
Sales Market Overview
Median Price
$2,595,000
+0.8%
Median DOM
22
0.0%
New Listings
14
−72.5%
Inventory
118
+5.4%
- Average Price: $3,044,849
- Median Price: $2,595,000
- Price Range: $295,000 – $9,590,000
- Price per Sq Ft (Avg/Median): $853 / $791
- Square Footage (Avg/Median): 3,582 / 3,670
- Square Footage Range: 455 – 9,340
- Days on Market (Avg/Median): 43 / 22
- Days on Market Range: 1 – 334
- New Listings: 14
- Total Listings: 118
Sales by Property Type
Condo
Avg/Median Price$531,628 / $520,000Range$295,000 – $800,000Price per Sq Ft$568 / $549Sq Ft952 / 965DOM54 / 32New0Total16
Land
Avg/Median Price$825,840 / $788,500Range$299,950 – $1,525,000Price per Sq Ft—Sq Ft—DOM148 / 128New0Total10
Single Family
Avg/Median Price$3,723,127 / $2,950,000Range$1,399,000 – $9,590,000Price per Sq Ft$902 / $829Sq Ft4,040 / 3,840DOM33 / 19New14Total92
Sales by Bedroom Count
Studio
Avg:$295,000Median:$295,000Range:$295,000 – $295,000PSF:$648 / $648Sq Ft:455 / 455DOM:27 / 27New:0Total:1
1 Beds
Avg:$391,500Median:$398,000Range:$370,000 – $399,000PSF:$590 / $607Sq Ft:665 / 645DOM:37 / 27New:0Total:4
2 Beds
Avg:$588,695Median:$599,000Range:$415,000 – $800,000PSF:$556 / $530Sq Ft:1,065 / 999DOM:68 / 38New:0Total:10
3 Beds
Avg:$1,637,183Median:$1,720,000Range:$758,100 – $1,998,000PSF:$830 / $865Sq Ft:1,961 / 1,986DOM:38 / 24New:1Total:6
4 Beds
Avg:$3,253,710Median:$2,700,000Range:$1,500,000 – $9,250,000PSF:$887 / $822Sq Ft:3,611 / 3,620DOM:23 / 18New:9Total:45
5 Beds
Avg:$4,126,205Median:$3,465,000Range:$1,695,000 – $9,590,000PSF:$909 / $829Sq Ft:4,418 / 4,220DOM:35 / 11New:4Total:34
6 Beds
Avg:$5,395,797Median:$3,999,900Range:$2,495,000 – $8,999,880PSF:$1,019 / $769Sq Ft:5,120 / 5,163DOM:31 / 22New:0Total:6
7 Beds
Avg:$7,190,000Median:$6,800,000Range:$6,800,000 – $7,580,000PSF:$801 / $791Sq Ft:8,970 / 8,600DOM:226 / 186New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $295,000 | $295,000 | $295,000 – $295,000 | $648 / $648 | 455 / 455 | 27 / 27 | 0 | 1 |
| 1 Beds | $391,500 | $398,000 | $370,000 – $399,000 | $590 / $607 | 665 / 645 | 37 / 27 | 0 | 4 |
| 2 Beds | $588,695 | $599,000 | $415,000 – $800,000 | $556 / $530 | 1,065 / 999 | 68 / 38 | 0 | 10 |
| 3 Beds | $1,637,183 | $1,720,000 | $758,100 – $1,998,000 | $830 / $865 | 1,961 / 1,986 | 38 / 24 | 1 | 6 |
| 4 Beds | $3,253,710 | $2,700,000 | $1,500,000 – $9,250,000 | $887 / $822 | 3,611 / 3,620 | 23 / 18 | 9 | 45 |
| 5 Beds | $4,126,205 | $3,465,000 | $1,695,000 – $9,590,000 | $909 / $829 | 4,418 / 4,220 | 35 / 11 | 4 | 34 |
| 6 Beds | $5,395,797 | $3,999,900 | $2,495,000 – $8,999,880 | $1,019 / $769 | 5,120 / 5,163 | 31 / 22 | 0 | 6 |
| 7 Beds | $7,190,000 | $6,800,000 | $6,800,000 – $7,580,000 | $801 / $791 | 8,970 / 8,600 | 226 / 186 | 0 | 2 |
Rental Market Overview
Median Rent
$2,675
+7.0%
Median DOM
30
+20.0%
New Listings
4
Inventory
29
−3.3%
- Average Rent: $3,827
- Median Rent: $2,675
- Rent Range: $1,650 – $9,500
- Rent per Sq Ft (Avg/Median): $3 / $3
- Square Footage (Avg/Median): 1,680 / 950
- Square Footage Range: 457 – 5,685
- Days on Market (Avg/Median): 56 / 30
- Days on Market Range: 1 – 353
- New Listings: 4
- Total Listings: 29
Rentals by Property Type
Apartment
$2,117
Median DOM: 64
Inventory: 13
MoM: +7.0%
Condo
$2,500
Median DOM: 30
Inventory: 5
MoM: +7.0%
Single Family
$6,550
Median DOM: 10
Inventory: 10
MoM: +7.0%
Townhouse
—
Median DOM: —
Inventory: —
MoM: +7.0%
Apartment
Avg/Median Rent$2,169 / $2,117Range$1,750 – $2,995Rent per Sq Ft$3 / $3Sq Ft723 / 697DOM140 / 64New0Total13
Condo
Avg/Median Rent$2,380 / $2,500Range$1,650 – $3,000Rent per Sq Ft$3 / $3Sq Ft840 / 918DOM31 / 30New1Total5
Multi-Family
Avg/Median Rent$4,295 / $4,295Range$4,295 – $4,295Rent per Sq Ft$3 / $3Sq Ft1,700 / 1,700DOM45 / 45New0Total1
Single Family
Avg/Median Rent$6,658 / $6,550Range$3,500 – $9,500Rent per Sq Ft$2 / $2Sq Ft3,342 / 3,610DOM16 / 10New3Total10
Rentals by Bedroom Count
Studio
Avg:$1,905Median:$1,837Range:$1,650 – $2,127PSF:$4 / $4Sq Ft:529 / 500DOM:199 / 44New:0Total:6
1 Beds
Avg:$2,055Median:$2,000Range:$1,950 – $2,200PSF:$3 / $3Sq Ft:708 / 697DOM:53 / 20New:0Total:4
2 Beds
Avg:$2,824Median:$2,675Range:$1,750 – $4,295PSF:$3 / $3Sq Ft:1,128 / 950DOM:65 / 45New:1Total:10
3 Beds
Avg:$4,372Median:$3,995Range:$3,995 – $4,750PSF:$2 / $2Sq Ft:1,765 / 1,700DOM:4 / 1New:1Total:2
4 Beds
Avg:$7,135Median:$6,550Range:$5,990 – $8,500PSF:$2 / $2Sq Ft:3,492 / 3,610DOM:8 / 10New:0Total:4
5 Beds
Avg:$8,598Median:$8,900Range:$7,395 – $9,500PSF:$2 / $2Sq Ft:4,645 / 4,595DOM:22 / 11New:2Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,905 | $1,837 | $1,650 – $2,127 | $4 / $4 | 529 / 500 | 199 / 44 | 0 | 6 |
| 1 Beds | $2,055 | $2,000 | $1,950 – $2,200 | $3 / $3 | 708 / 697 | 53 / 20 | 0 | 4 |
| 2 Beds | $2,824 | $2,675 | $1,750 – $4,295 | $3 / $3 | 1,128 / 950 | 65 / 45 | 1 | 10 |
| 3 Beds | $4,372 | $3,995 | $3,995 – $4,750 | $2 / $2 | 1,765 / 1,700 | 4 / 1 | 1 | 2 |
| 4 Beds | $7,135 | $6,550 | $5,990 – $8,500 | $2 / $2 | 3,492 / 3,610 | 8 / 10 | 0 | 4 |
| 5 Beds | $8,598 | $8,900 | $7,395 – $9,500 | $2 / $2 | 4,645 / 4,595 | 22 / 11 | 2 | 3 |
6-Month Sales Trend
Dec 2025
Median Price:$2,199,888Median DOM:83New:4Total:64
Jan 2026
Median Price:$2,050,000Median DOM:83New:15Total:62
Feb 2026
Median Price:$2,365,000Median DOM:44New:21Total:68
Mar 2026
Median Price:$2,495,000Median DOM:25New:34Total:91
Apr 2026
Median Price:$2,575,000Median DOM:22New:51Total:112
May 2026
Median Price:$2,595,000Median DOM:22New:14Total:118
6-Month Rental Trend
Dec 2025
Median Rent:$3,095Median DOM:11New:10Total:33
Jan 2026
Median Rent:$3,600Median DOM:4New:16Total:37
Feb 2026
Median Rent:$3,600Median DOM:3New:9Total:35
Mar 2026
Median Rent:$2,500Median DOM:26New:5Total:28
Apr 2026
Median Rent:$2,500Median DOM:25New:8Total:30
May 2026
Median Rent:$2,675Median DOM:30New:4Total:29
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market were unchanged, signaling steady buyer activity. Rental pricing increased, while total rental inventory tightened.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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