ZIP 98116 Housing Market Report
Northwest Seattle
Report period: May 2026
98116 Monthly Market Update – May 2026
ZIP 98116 · Last updated May 12, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$965,000
+7.3%
Median DOM (Sales)
19
−9.5%
New Listings (Sales)
20
−58.3%
Median Rent
$1,850
−1.0%
Median DOM (Rental)
3
−66.7%
Total Rental Listings
104
0.0%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents softened.
What's Moving Fastest
- Fastest selling: Single Family (8 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 8 Beds ($2,195,000 median)
Sales Market Overview
Median Price
$965,000
+7.3%
Median DOM
19
−9.5%
New Listings
20
−58.3%
Inventory
170
+10.4%
- Average Price: $1,169,262
- Median Price: $965,000
- Price Range: $250,000 – $6,975,000
- Price per Sq Ft (Avg/Median): $631 / $600
- Square Footage (Avg/Median): 1,827 / 1,680
- Square Footage Range: 355 – 5,050
- Days on Market (Avg/Median): 45 / 19
- Days on Market Range: 2 – 340
- New Listings: 20
- Total Listings: 170
Sales by Property Type
Condo
Avg/Median Price$758,218 / $685,000Range$275,000 – $2,699,000Price per Sq Ft$643 / $603Sq Ft1,161 / 1,126DOM61 / 41New3Total52
Land
Avg/Median Price$1,116,500 / $399,000Range$250,000 – $4,700,000Price per Sq Ft—Sq Ft—DOM142 / 96New0Total6
Multi-Family
Avg/Median Price$1,590,000 / $1,395,000Range$1,300,000 – $2,195,000Price per Sq Ft$519 / $523Sq Ft3,126 / 2,850DOM116 / 79New2Total6
Single Family
Avg/Median Price$1,470,646 / $1,100,000Range$525,000 – $6,975,000Price per Sq Ft$631 / $598Sq Ft2,245 / 2,070DOM21 / 8New11Total80
Townhouse
Avg/Median Price$979,102 / $898,000Range$659,950 – $1,725,000Price per Sq Ft$634 / $617Sq Ft1,573 / 1,592DOM52 / 40New4Total26
Sales by Bedroom Count
Studio
Avg:$325,000Median:$325,000Range:$325,000 – $325,000PSF:$625 / $625Sq Ft:520 / 520DOM:28 / 28New:0Total:1
1 Beds
Avg:$512,996Median:$385,000Range:$279,500 – $1,375,000PSF:$690 / $625Sq Ft:738 / 634DOM:60 / 33New:1Total:14
2 Beds
Avg:$760,496Median:$725,000Range:$275,000 – $1,389,000PSF:$626 / $639Sq Ft:1,220 / 1,175DOM:53 / 30New:2Total:49
3 Beds
Avg:$1,205,460Median:$1,048,000Range:$725,000 – $3,450,000PSF:$623 / $580Sq Ft:1,911 / 1,760DOM:32 / 9New:11Total:62
4 Beds
Avg:$1,932,528Median:$1,495,000Range:$800,000 – $6,975,000PSF:$650 / $600Sq Ft:2,802 / 2,520DOM:22 / 11New:3Total:30
5 Beds
Avg:$1,930,000Median:$1,700,000Range:$1,300,000 – $2,750,000PSF:$571 / $619Sq Ft:3,416 / 3,658DOM:51 / 57New:2Total:5
6 Beds
Avg:$1,350,000Median:$1,350,000Range:$1,350,000 – $1,350,000PSF:$523 / $523Sq Ft:2,580 / 2,580DOM:331 / 331New:0Total:1
7 Beds
Avg:$1,395,000Median:$1,395,000Range:$1,395,000 – $1,395,000PSF:$489 / $489Sq Ft:2,850 / 2,850DOM:11 / 11New:1Total:1
8 Beds
Avg:$2,195,000Median:$2,195,000Range:$2,195,000 – $2,195,000PSF:$554 / $554Sq Ft:3,960 / 3,960DOM:158 / 158New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $325,000 | $325,000 | $325,000 – $325,000 | $625 / $625 | 520 / 520 | 28 / 28 | 0 | 1 |
| 1 Beds | $512,996 | $385,000 | $279,500 – $1,375,000 | $690 / $625 | 738 / 634 | 60 / 33 | 1 | 14 |
| 2 Beds | $760,496 | $725,000 | $275,000 – $1,389,000 | $626 / $639 | 1,220 / 1,175 | 53 / 30 | 2 | 49 |
| 3 Beds | $1,205,460 | $1,048,000 | $725,000 – $3,450,000 | $623 / $580 | 1,911 / 1,760 | 32 / 9 | 11 | 62 |
| 4 Beds | $1,932,528 | $1,495,000 | $800,000 – $6,975,000 | $650 / $600 | 2,802 / 2,520 | 22 / 11 | 3 | 30 |
| 5 Beds | $1,930,000 | $1,700,000 | $1,300,000 – $2,750,000 | $571 / $619 | 3,416 / 3,658 | 51 / 57 | 2 | 5 |
| 6 Beds | $1,350,000 | $1,350,000 | $1,350,000 – $1,350,000 | $523 / $523 | 2,580 / 2,580 | 331 / 331 | 0 | 1 |
| 7 Beds | $1,395,000 | $1,395,000 | $1,395,000 – $1,395,000 | $489 / $489 | 2,850 / 2,850 | 11 / 11 | 1 | 1 |
| 8 Beds | $2,195,000 | $2,195,000 | $2,195,000 – $2,195,000 | $554 / $554 | 3,960 / 3,960 | 158 / 158 | 0 | 1 |
Rental Market Overview
Median Rent
$1,850
−1.0%
Median DOM
3
−66.7%
New Listings
21
Inventory
104
0.0%
- Average Rent: $2,408
- Median Rent: $1,850
- Rent Range: $905 – $9,830
- Rent per Sq Ft (Avg/Median): $3 / $3
- Square Footage (Avg/Median): 748 / 600
- Square Footage Range: 250 – 3,040
- Days on Market (Avg/Median): 64 / 3
- Days on Market Range: 1 – 354
- New Listings: 21
- Total Listings: 104
Rentals by Property Type
Apartment
$1,850
Median DOM: 42
Inventory: 77
MoM: −1.0%
Condo
$1,450
Median DOM: 1
Inventory: 10
MoM: −1.0%
Single Family
$3,500
Median DOM: 1
Inventory: 12
MoM: −1.0%
Townhouse
$5,387
Median DOM: 231
Inventory: 3
MoM: −1.0%
Apartment
Avg/Median Rent$2,185 / $1,850Range$905 – $9,830Rent per Sq Ft$3 / $3Sq Ft632 / 600DOM86 / 42New12Total77
Condo
Avg/Median Rent$1,616 / $1,450Range$1,295 – $2,200Rent per Sq Ft$3 / $3Sq Ft548 / 530DOM3 / 1New2Total10
Multi-Family
Avg/Median Rent$2,498 / $1,700Range$1,700 – $3,295Rent per Sq Ft$3 / $3Sq Ft892 / 600DOM6 / 2New1Total2
Single Family
Avg/Median Rent$3,710 / $3,500Range$1,395 – $5,900Rent per Sq Ft$3 / $3Sq Ft1,466 / 1,100DOM2 / 1New6Total12
Townhouse
Avg/Median Rent$5,504 / $5,387Range$3,000 – $8,125Rent per Sq Ft$2 / $2Sq Ft1,500 / 1,500DOM157 / 231New0Total3
Rentals by Bedroom Count
Studio
Avg:$1,515Median:$1,500Range:$905 – $3,980PSF:$4 / $4Sq Ft:401 / 429DOM:64 / 1New:5Total:27
1 Beds
Avg:$2,178Median:$1,850Range:$1,295 – $9,830PSF:$3 / $3Sq Ft:641 / 600DOM:65 / 13New:8Total:48
2 Beds
Avg:$3,005Median:$2,425Range:$1,795 – $8,125PSF:$3 / $3Sq Ft:862 / 771DOM:74 / 7New:6Total:22
3 Beds
Avg:$5,679Median:$5,595Range:$4,500 – $6,942PSF:$3 / $3Sq Ft:1,754 / 1,620DOM:75 / 1New:0Total:3
4 Beds
Avg:$5,483Median:$5,750Range:$4,800 – $5,900PSF:$2 / $2Sq Ft:2,567 / 2,660DOM:2 / 1New:1Total:3
5 Beds
Avg:$5,400Median:$5,400Range:$5,400 – $5,400PSF:$2 / $2Sq Ft:2,300 / 2,300DOM:9 / 9New:1Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,515 | $1,500 | $905 – $3,980 | $4 / $4 | 401 / 429 | 64 / 1 | 5 | 27 |
| 1 Beds | $2,178 | $1,850 | $1,295 – $9,830 | $3 / $3 | 641 / 600 | 65 / 13 | 8 | 48 |
| 2 Beds | $3,005 | $2,425 | $1,795 – $8,125 | $3 / $3 | 862 / 771 | 74 / 7 | 6 | 22 |
| 3 Beds | $5,679 | $5,595 | $4,500 – $6,942 | $3 / $3 | 1,754 / 1,620 | 75 / 1 | 0 | 3 |
| 4 Beds | $5,483 | $5,750 | $4,800 – $5,900 | $2 / $2 | 2,567 / 2,660 | 2 / 1 | 1 | 3 |
| 5 Beds | $5,400 | $5,400 | $5,400 – $5,400 | $2 / $2 | 2,300 / 2,300 | 9 / 9 | 1 | 1 |
6-Month Sales Trend
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:$850,000Median DOM:22New:52Total:142
Apr 2026
Median Price:$899,000Median DOM:21New:48Total:154
May 2026
Median Price:$965,000Median DOM:19New:20Total:170
6-Month Rental Trend
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:$1,895Median DOM:28New:29Total:119
Apr 2026
Median Rent:$1,869Median DOM:9New:30Total:104
May 2026
Median Rent:$1,850Median DOM:3New:21Total:104
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 was flat.
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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