ZIP 98116 Housing Market Report
Northwest Seattle
Report period: March 2026
98116 Monthly Market Update – March 2026
ZIP 98116 · Last updated Mar 12, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$875,000
+1.8%
Median DOM (Sales)
27
−10.0%
New Listings (Sales)
16
−56.8%
Median Rent
$1,995
−0.3%
Median DOM (Rental)
14
+55.6%
Total Rental Listings
134
−4.3%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents softened. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (15 DOM)
- Fastest renting: Single Family (1 DOM)
- Strongest bedroom: 8 Beds ($2,195,000 median)
Sales Market Overview
Median Price
$875,000
+1.8%
Median DOM
27
−10.0%
New Listings
16
−56.8%
Inventory
126
+11.5%
- Average Price: $1,168,562
- Median Price: $875,000
- Price Range: $289,500 – $6,975,000
- Price per Sq Ft (Avg/Median): $653 / $619
- Square Footage (Avg/Median): 1,704 / 1,500
- Square Footage Range: 509 – 5,050
- Days on Market (Avg/Median): 61 / 27
- Days on Market Range: 2 – 326
- New Listings: 16
- Total Listings: 126
Sales by Property Type
Condo
Avg/Median Price$878,501 / $719,950Range$289,500 – $3,499,000Price per Sq Ft$655 / $619Sq Ft1,265 / 1,088DOM68 / 33New6Total44
Land
Avg/Median Price$1,495,500 / $650,000Range$399,000 – $4,700,000Price per Sq Ft—Sq Ft—DOM134 / 133New0Total8
Multi-Family
Avg/Median Price$1,779,000 / $1,700,000Range$1,350,000 – $2,200,000Price per Sq Ft$579 / $554Sq Ft3,181 / 3,020DOM129 / 97New0Total5
Single Family
Avg/Median Price$1,375,392 / $925,000Range$649,950 – $6,975,000Price per Sq Ft$677 / $639Sq Ft1,961 / 1,660DOM39 / 15New6Total51
Townhouse
Avg/Median Price$976,711 / $899,000Range$669,950 – $1,560,000Price per Sq Ft$599 / $567Sq Ft1,636 / 1,620DOM56 / 32New4Total18
Sales by Bedroom Count
1 Beds
Avg:$455,556Median:$329,000Range:$289,500 – $799,950PSF:$582 / $569Sq Ft:757 / 650DOM:100 / 48New:1Total:8
2 Beds
Avg:$752,646Median:$725,000Range:$350,000 – $1,389,000PSF:$629 / $629Sq Ft:1,204 / 1,108DOM:61 / 27New:4Total:44
3 Beds
Avg:$1,205,605Median:$900,000Range:$675,000 – $3,499,000PSF:$688 / $622Sq Ft:1,736 / 1,672DOM:50 / 17New:8Total:43
4 Beds
Avg:$2,157,354Median:$1,399,000Range:$950,000 – $6,975,000PSF:$696 / $578Sq Ft:2,803 / 2,420DOM:24 / 6New:2Total:14
5 Beds
Avg:$1,904,166Median:$1,700,000Range:$1,450,000 – $2,300,000PSF:$614 / $629Sq Ft:3,177 / 3,020DOM:43 / 12New:1Total:6
6 Beds
Avg:$1,425,000Median:$1,350,000Range:$1,350,000 – $1,500,000PSF:$563 / $523Sq Ft:2,535 / 2,490DOM:168 / 27New:0Total:2
8 Beds
Avg:$2,195,000Median:$2,195,000Range:$2,195,000 – $2,195,000PSF:$554 / $554Sq Ft:3,960 / 3,960DOM:97 / 97New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $455,556 | $329,000 | $289,500 – $799,950 | $582 / $569 | 757 / 650 | 100 / 48 | 1 | 8 |
| 2 Beds | $752,646 | $725,000 | $350,000 – $1,389,000 | $629 / $629 | 1,204 / 1,108 | 61 / 27 | 4 | 44 |
| 3 Beds | $1,205,605 | $900,000 | $675,000 – $3,499,000 | $688 / $622 | 1,736 / 1,672 | 50 / 17 | 8 | 43 |
| 4 Beds | $2,157,354 | $1,399,000 | $950,000 – $6,975,000 | $696 / $578 | 2,803 / 2,420 | 24 / 6 | 2 | 14 |
| 5 Beds | $1,904,166 | $1,700,000 | $1,450,000 – $2,300,000 | $614 / $629 | 3,177 / 3,020 | 43 / 12 | 1 | 6 |
| 6 Beds | $1,425,000 | $1,350,000 | $1,350,000 – $1,500,000 | $563 / $523 | 2,535 / 2,490 | 168 / 27 | 0 | 2 |
| 8 Beds | $2,195,000 | $2,195,000 | $2,195,000 – $2,195,000 | $554 / $554 | 3,960 / 3,960 | 97 / 97 | 0 | 1 |
Rental Market Overview
Median Rent
$1,995
−0.3%
Median DOM
14
+55.6%
New Listings
19
Inventory
134
−4.3%
- Average Rent: $2,538
- Median Rent: $1,995
- Rent Range: $975 – $9,811
- Rent per Sq Ft (Avg/Median): $3 / $3
- Square Footage (Avg/Median): 821 / 707
- Square Footage Range: 299 – 3,040
- Days on Market (Avg/Median): 65 / 14
- Days on Market Range: 1 – 361
- New Listings: 19
- Total Listings: 134
Rentals by Property Type
Apartment
$1,950
Median DOM: 29
Inventory: 101
MoM: −0.3%
Condo
$1,895
Median DOM: 28
Inventory: 13
MoM: −0.3%
Single Family
$3,500
Median DOM: 1
Inventory: 17
MoM: −0.3%
Townhouse
$5,832
Median DOM: 181
Inventory: 2
MoM: −0.3%
Apartment
Avg/Median Rent$2,265 / $1,950Range$975 – $9,811Rent per Sq Ft$3 / $3Sq Ft695 / 700DOM80 / 29New9Total101
Condo
Avg/Median Rent$2,221 / $1,895Range$1,495 – $4,450Rent per Sq Ft$3 / $3Sq Ft761 / 600DOM28 / 28New3Total13
Multi-Family
Avg/Median Rent$1,995 / $1,995Range$1,995 – $1,995Rent per Sq Ft$3 / $3Sq Ft700 / 700DOM30 / 30New0Total1
Single Family
Avg/Median Rent$4,016 / $3,500Range$1,645 – $9,500Rent per Sq Ft$3 / $2Sq Ft1,589 / 1,300DOM9 / 1New7Total17
Townhouse
Avg/Median Rent$6,084 / $5,832Range$5,832 – $6,336Rent per Sq Ft—Sq Ft—DOM181 / 181New0Total2
Rentals by Bedroom Count
Studio
Avg:$1,600Median:$1,550Range:$975 – $4,320PSF:$4 / $4Sq Ft:436 / 431DOM:74 / 18New:3Total:24
1 Beds
Avg:$2,248Median:$1,895Range:$1,350 – $9,811PSF:$3 / $3Sq Ft:633 / 642DOM:66 / 14New:8Total:60
2 Beds
Avg:$2,794Median:$2,425Range:$1,800 – $6,336PSF:$3 / $3Sq Ft:979 / 1,000DOM:69 / 30New:5Total:41
3 Beds
Avg:$4,460Median:$4,800Range:$3,500 – $5,081PSF:$4 / $3Sq Ft:1,382 / 1,300DOM:81 / 59New:0Total:3
4 Beds
Avg:$6,474Median:$5,950Range:$5,000 – $9,500PSF:$3 / $2Sq Ft:2,541 / 2,360DOM:3 / 1New:3Total:6
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,600 | $1,550 | $975 – $4,320 | $4 / $4 | 436 / 431 | 74 / 18 | 3 | 24 |
| 1 Beds | $2,248 | $1,895 | $1,350 – $9,811 | $3 / $3 | 633 / 642 | 66 / 14 | 8 | 60 |
| 2 Beds | $2,794 | $2,425 | $1,800 – $6,336 | $3 / $3 | 979 / 1,000 | 69 / 30 | 5 | 41 |
| 3 Beds | $4,460 | $4,800 | $3,500 – $5,081 | $4 / $3 | 1,382 / 1,300 | 81 / 59 | 0 | 3 |
| 4 Beds | $6,474 | $5,950 | $5,000 – $9,500 | $3 / $2 | 2,541 / 2,360 | 3 / 1 | 3 | 6 |
6-Month Sales Trend
Oct 2025
Median Price:$950,000Median DOM:42New:32Total:155
Nov 2025
Median Price:$870,000Median DOM:48New:27Total:138
Dec 2025
Median Price:$870,000Median DOM:61New:7Total:103
Jan 2026
Median Price:$849,000Median DOM:65New:32Total:94
Feb 2026
Median Price:$859,900Median DOM:30New:37Total:113
Mar 2026
Median Price:$875,000Median DOM:27New:16Total:126
6-Month Rental Trend
Oct 2025
Median Rent:$2,140Median DOM:1New:49Total:130
Nov 2025
Median Rent:$2,195Median DOM:10New:51Total:130
Dec 2025
Median Rent:$2,200Median DOM:18New:46Total:129
Jan 2026
Median Rent:$2,095Median DOM:17New:52Total:138
Feb 2026
Median Rent:$2,000Median DOM:9New:36Total:140
Mar 2026
Median Rent:$1,995Median DOM:14New:19Total:134
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market declined, signaling improving buyer activity. Rental pricing eased, 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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