ZIP 98116 Housing Market Report
Northwest Seattle
Report period: August 2026
98116 Monthly Market Update – August 2026
ZIP 98116 · Last updated Aug 11, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$899,000
0.0%
Median DOM (Sales)
30
+30.4%
New Listings (Sales)
7
−86.0%
Median Rent
$2,125
+1.1%
Median DOM (Rental)
6
+50.0%
Total Rental Listings
126
+6.8%
Month-over-Month Movement
Median sale prices were flat. Days on market lengthened. Rents moved higher. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (15 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 8 Beds ($2,195,000 median)
Sales Market Overview
Median Price
$899,000
0.0%
Median DOM
30
+30.4%
New Listings
7
−86.0%
Inventory
155
−0.6%
- Average Price: $1,100,203
- Median Price: $899,000
- Price Range: $250,000 – $6,975,000
- Price per Sq Ft (Avg/Median): $629 / $591
- Square Footage (Avg/Median): 1,719 / 1,592
- Square Footage Range: 355 – 5,050
- Days on Market (Avg/Median): 53 / 30
- Days on Market Range: 1 – 342
- New Listings: 7
- Total Listings: 155
Sales by Property Type
Condo
Avg/Median Price$775,699 / $619,850Range$261,000 – $2,499,000Price per Sq Ft$623 / $599Sq Ft1,202 / 1,126DOM77 / 54New2Total49
Land
Avg/Median Price$1,145,667 / $400,000Range$250,000 – $4,700,000Price per Sq Ft—Sq Ft—DOM173 / 109New0Total6
Multi-Family
Avg/Median Price$1,465,000 / $1,350,000Range$850,000 – $2,195,000Price per Sq Ft$569 / $554Sq Ft2,734 / 2,100DOM118 / 82New0Total6
Single Family
Avg/Median Price$1,350,202 / $1,029,000Range$585,000 – $6,975,000Price per Sq Ft$646 / $612Sq Ft2,045 / 1,780DOM25 / 15New5Total69
Townhouse
Avg/Median Price$947,768 / $884,000Range$699,000 – $1,548,450Price per Sq Ft$608 / $575Sq Ft1,588 / 1,592DOM50 / 27New0Total25
Sales by Bedroom Count
1 Beds
Avg:$443,532Median:$379,500Range:$261,000 – $775,000PSF:$645 / $599Sq Ft:690 / 650DOM:68 / 54New:1Total:14
2 Beds
Avg:$820,962Median:$765,000Range:$360,000 – $1,899,000PSF:$638 / $610Sq Ft:1,277 / 1,175DOM:57 / 32New:2Total:47
3 Beds
Avg:$1,060,326Median:$990,000Range:$699,000 – $2,499,000PSF:$617 / $580Sq Ft:1,723 / 1,690DOM:41 / 23New:3Total:56
4 Beds
Avg:$1,905,748Median:$1,475,000Range:$585,000 – $6,975,000PSF:$654 / $619Sq Ft:2,713 / 2,469DOM:35 / 30New:1Total:26
5 Beds
Avg:$1,516,667Median:$1,550,000Range:$1,300,000 – $1,700,000PSF:$536 / $587Sq Ft:2,994 / 2,640DOM:117 / 170New:0Total:3
6 Beds
Avg:$1,795,000Median:$1,795,000Range:$1,795,000 – $1,795,000PSF:$492 / $492Sq Ft:3,650 / 3,650DOM:12 / 12New:0Total:1
7 Beds
Avg:$1,395,000Median:$1,395,000Range:$1,395,000 – $1,395,000PSF:$489 / $489Sq Ft:2,850 / 2,850DOM:82 / 82New:0Total:1
8 Beds
Avg:$2,195,000Median:$2,195,000Range:$2,195,000 – $2,195,000PSF:$554 / $554Sq Ft:3,960 / 3,960DOM:195 / 195New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $443,532 | $379,500 | $261,000 – $775,000 | $645 / $599 | 690 / 650 | 68 / 54 | 1 | 14 |
| 2 Beds | $820,962 | $765,000 | $360,000 – $1,899,000 | $638 / $610 | 1,277 / 1,175 | 57 / 32 | 2 | 47 |
| 3 Beds | $1,060,326 | $990,000 | $699,000 – $2,499,000 | $617 / $580 | 1,723 / 1,690 | 41 / 23 | 3 | 56 |
| 4 Beds | $1,905,748 | $1,475,000 | $585,000 – $6,975,000 | $654 / $619 | 2,713 / 2,469 | 35 / 30 | 1 | 26 |
| 5 Beds | $1,516,667 | $1,550,000 | $1,300,000 – $1,700,000 | $536 / $587 | 2,994 / 2,640 | 117 / 170 | 0 | 3 |
| 6 Beds | $1,795,000 | $1,795,000 | $1,795,000 – $1,795,000 | $492 / $492 | 3,650 / 3,650 | 12 / 12 | 0 | 1 |
| 7 Beds | $1,395,000 | $1,395,000 | $1,395,000 – $1,395,000 | $489 / $489 | 2,850 / 2,850 | 82 / 82 | 0 | 1 |
| 8 Beds | $2,195,000 | $2,195,000 | $2,195,000 – $2,195,000 | $554 / $554 | 3,960 / 3,960 | 195 / 195 | 0 | 1 |
Rental Market Overview
Median Rent
$2,125
+1.1%
Median DOM
6
+50.0%
New Listings
28
Inventory
126
+6.8%
- Average Rent: $2,698
- Median Rent: $2,125
- Rent Range: $926 – $9,744
- Rent per Sq Ft (Avg/Median): $3 / $3
- Square Footage (Avg/Median): 869 / 711
- Square Footage Range: 266 – 3,500
- Days on Market (Avg/Median): 57 / 6
- Days on Market Range: 1 – 346
- New Listings: 28
- Total Listings: 126
Rentals by Property Type
Apartment
$1,899
Median DOM: 9
Inventory: 96
MoM: +1.1%
Condo
$2,050
Median DOM: 1
Inventory: 4
MoM: +1.1%
Single Family
$4,200
Median DOM: 1
Inventory: 18
MoM: +1.1%
Townhouse
$3,395
Median DOM: 34
Inventory: 7
MoM: +1.1%
Apartment
Avg/Median Rent$2,307 / $1,899Range$926 – $9,744Rent per Sq Ft$3 / $3Sq Ft708 / 670DOM67 / 9New21Total96
Condo
Avg/Median Rent$2,072 / $2,050Range$1,495 – $2,550Rent per Sq Ft$4 / $4Sq Ft593 / 509DOM3 / 1New1Total4
Multi-Family
Avg/Median Rent$1,600 / $1,600Range$1,600 – $1,600Rent per Sq Ft$3 / $3Sq Ft600 / 600DOM46 / 46New0Total1
Single Family
Avg/Median Rent$4,213 / $4,200Range$1,395 – $8,450Rent per Sq Ft$3 / $3Sq Ft1,653 / 1,590DOM10 / 1New5Total18
Townhouse
Avg/Median Rent$4,679 / $3,395Range$2,850 – $8,774Rent per Sq Ft$3 / $3Sq Ft1,248 / 1,265DOM97 / 34New1Total7
Rentals by Bedroom Count
Studio
Avg:$1,423Median:$1,450Range:$926 – $1,885PSF:$4 / $4Sq Ft:415 / 421DOM:42 / 1New:8Total:25
1 Beds
Avg:$2,357Median:$1,895Range:$1,299 – $9,744PSF:$3 / $3Sq Ft:614 / 600DOM:83 / 9New:9Total:43
2 Beds
Avg:$3,044Median:$2,795Range:$1,695 – $8,774PSF:$3 / $3Sq Ft:922 / 939DOM:48 / 8New:9Total:43
3 Beds
Avg:$4,315Median:$3,495Range:$2,995 – $8,450PSF:$3 / $3Sq Ft:1,549 / 1,500DOM:55 / 15New:0Total:9
4 Beds
Avg:$5,558Median:$5,500Range:$4,500 – $6,500PSF:$2 / $2Sq Ft:2,627 / 2,210DOM:1 / 1New:2Total:6
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,423 | $1,450 | $926 – $1,885 | $4 / $4 | 415 / 421 | 42 / 1 | 8 | 25 |
| 1 Beds | $2,357 | $1,895 | $1,299 – $9,744 | $3 / $3 | 614 / 600 | 83 / 9 | 9 | 43 |
| 2 Beds | $3,044 | $2,795 | $1,695 – $8,774 | $3 / $3 | 922 / 939 | 48 / 8 | 9 | 43 |
| 3 Beds | $4,315 | $3,495 | $2,995 – $8,450 | $3 / $3 | 1,549 / 1,500 | 55 / 15 | 0 | 9 |
| 4 Beds | $5,558 | $5,500 | $4,500 – $6,500 | $2 / $2 | 2,627 / 2,210 | 1 / 1 | 2 | 6 |
6-Month Sales Trend
Mar 2026
Median Price:$850,000Median DOM:22New:52Total:142
Apr 2026
Median Price:$899,000Median DOM:21New:48Total:154
May 2026
Median Price:$964,000Median DOM:18New:63Total:180
Jun 2026
Median Price:$899,000Median DOM:20New:49Total:172
Jul 2026
Median Price:$899,000Median DOM:23New:50Total:156
Aug 2026
Median Price:$899,000Median DOM:30New:7Total:155
6-Month Rental Trend
Mar 2026
Median Rent:$1,895Median DOM:28New:29Total:119
Apr 2026
Median Rent:$1,869Median DOM:9New:30Total:104
May 2026
Median Rent:$1,850Median DOM:5New:31Total:105
Jun 2026
Median Rent:$2,095Median DOM:6New:39Total:103
Jul 2026
Median Rent:$2,102Median DOM:4New:42Total:118
Aug 2026
Median Rent:$2,125Median DOM:6New:28Total:126
Key Market Takeaways
Median sale prices held steady this month while inventory compressed. Days on market lengthened, signaling slower buyer activity. Rental pricing increased, while total rental inventory increased.
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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