Monthly Market Update
April 2026
Market Update
Active inventory on the Eastside is up 54% year over year and months of supply has climbed from 1.9 to 2.9, the highest level in over a decade. Demand is essentially flat. This is not a "let's just try it" market. It is a prepare-well, price-well market, and Bella breaks down the April numbers across the Eastside, Seattle, and Snohomish County.
April 2026 At a Glance
The Numbers That
Matter Most
April housing data from the Northwest Multiple Listing Service (NWMLS) across the markets Bella tracks most closely. Eastside active inventory is up 54% year over year. Months of supply has jumped from 1.9 to 2.9, the highest level in over a decade. Pending sales are down 2%, year-to-date closed sales are down 4%, and demand is essentially flat against a meaningful supply expansion.
Bella's Analysis
Prepare Your Home Well.
Price It Well.
Pricing is hard right now and it matters more than ever. Active inventory across the Eastside is up over 50% year over year, months of supply has jumped from 1.9 to 2.9, and that is the highest level we have seen in over a decade. At the same time, demand is basically flat. This is not a "let's just try it" market. It is a prepare-well, price-well market, and the gap between homes that get that right and homes that do not is showing up clearly in the April numbers.
Eastside Residential
Eastside single-family inventory climbed from 992 to 1,499 year over year, a jump of 54%. Pending sales are down 2% and year-to-date closed sales are down 4%. Median closed sales price is $1,612,000, down 5% from this time last year. Supply is rising, demand is not, and that imbalance is doing most of the work in this market.
When a home comes on the market, it is exposed to the largest pool of buyers it will ever see. Buyers make decisions quickly. If a home is priced right, it gets activity. If it is overpriced, it gets passed over, and once a buyer has passed, they rarely come back, even after a price reduction. Price reductions do not fix the original problem. They expose the home to a new group of buyers who were not looking before, or sometimes to buyers who were watching and waiting for exactly that drop. Sellers do not get a second first impression.
A year ago, 73% of Eastside homes sold at or above list price. In April 2026, that number is 44%. Even more telling: over the past 12 months, only 56% of listings taken actually sold. That is 5,053 closed sales against 8,952 listings taken, which is honestly insane to think about.
That said, sellers should not be scared. With a shift in pricing strategy and strong preparation and presentation, homes are still selling, and selling well. 27% are still going over list price, which usually signals multiple offers or some form of competition. Both Bella's listings and her buyers have been in multiple-offer situations recently. The market is selective, not stalled.
Eastside Condos
The Eastside condo market has been tough for two years now and April did not change that. Months of supply sits at 4.6, up from 3.3 a year ago, which was already considered high. Median closed sales price is down 7% year over year at $700,000. Pending sales are off but not dramatically.
The split between segments is sharper here than anywhere else. Only 6% of Eastside condos sold above list price, with 24% at list. The rest were either below list or had a price change before sale. Some condos are getting scooped up. A lot more are sitting. For sellers in this segment, accurate pricing and strong presentation are not optional. For buyers, the leverage is real.
Seattle Residential
Seattle is a different story than the Eastside. There is still meaningful inventory growth, with months of supply at 1.9 and active listings up 31% year over year, but the imbalance is less pronounced. Median closed sales price is $998,899, down just 3% year over year, so essentially holding steady just under a million.
What stands out in Seattle is the share of homes selling at or above asking. 38% sold above list price and 20% at list, with the rest below or with a price change before sale. That is a substantial share of homes still seeing strong activity. The prep-and-price discipline still matters because there is enough inventory to give buyers real choice, but the underlying demand for well-positioned homes is clearly intact.
One number worth flagging: one in six accepted offers in Seattle is not closing. Getting an offer is not the finish line. Inspections, financing, and appraisals all require active deal management through close. For sellers, buyer qualification upfront, especially around financing, is more important than it has been in years.
Seattle Condos
Seattle condos are sitting at 4.4 months of inventory, up from a year ago but not by much. Pending sales are essentially flat month to date. Median closed sales price is down 4% to $575,000.
The above-list share is slightly better than the Eastside condo market: 11% sold above list, 22% at list, and the rest below or with a price change. Same themes as the rest of the condo segment, but with a slightly steadier feel than what is happening across the bridge.
Snohomish County
Snohomish County is technically still a seller's market, but only just. Months of supply for single-family homes is 1.9, right on the cusp of the two-month threshold that typically separates a seller's from a balanced market. Active listings are up 56% year over year, but pending sales and median price are both essentially flat, with the median sitting at $799,992. That number is a county-wide median and varies significantly by location: unincorporated areas, in-city, north county, south county. It is a useful baseline, not a precise expectation.
The most encouraging detail in Snohomish: 31% of homes sold above list price, with strong numbers at list as well. The county is still active. The dynamics have shifted from the ultra-competitive conditions of prior years, inventory growth is giving buyers more leverage, and sellers need to be more strategic about pricing. For new construction specifically, watch for price corrections and incentives. This market rewards accurate pricing, strong preparation, and expert guidance through the full transaction.
Snohomish condos saw a big spike in active inventory, up 74% year over year, with pending sales down slightly and the median closed sales price down 5% to $490,000. 18% sold above list price, which is notably higher than what is happening in either Eastside or Seattle condos, and 21% sold at list.
What I'm Seeing on the Ground
This past month, homes in great areas that were prepared well, priced well, and marketed well have been selling quickly, some with multiple offers. One Seattle home that came on the market at $1.2 million received 26 offers. Bella was not involved in that one, but it is a useful illustration of what is happening: even in a market with this much inventory, the right home at the right price still creates real competition.
That is not meant to scare buyers. Inventory is robust and there is room to take advantage. It is meant to underscore for sellers that strong outcomes are still very much available, and to remind buyers that when the right home comes on the market, there is not always time to tour twice and think it over. Some homes are still moving fast, and being ready to go matters.
The Bottom Line
This is a market where execution is the differentiator. Inventory is up across nearly every segment Bella tracks. Demand is steady, not collapsing, but it is not keeping pace with the supply expansion either. The homes that prep well and price well are seeing activity, offers, and in some cases real competition. The homes that miss on either front are sitting, and the longer they sit, the wider the gap grows between original list price and final sale price.
Every neighborhood, price point, and submarket is telling a slightly different version of this story. If you are thinking about buying or selling this year and want to understand what April's numbers mean for your specific area, reach out any time. Bella can pull reports for much more niche geographic areas than what is covered here, which makes a meaningful difference in setting expectations before you list or write an offer.
Video Transcript
Full Transcript
Read along or reference specific data points from the video above.
Market update time, let's get right into it. Pricing is hard right now and it matters more than ever. Active inventory is up over 50% year over year on the Eastside, and months of supply of inventory have increased from 1.9 to 2.9. That is the highest level we've seen in over a decade. But demand is basically flat.
So we're going to start with Eastside residential, but I will go over Eastside condo as well as touch on the Seattle and Snohomish County markets in just a minute. First things first, before I get started, we're not in a "let's just try it" market. We're in a prepare-your-home-well and price-it-well market.
As mentioned, active inventory is up over 50% year over year, from 992 to 1,499, which is a huge jump. But at the same time, demand is essentially flat. Pending sales are down 2% and closed sales are down 4% year to date. So all in all, supply is rising and demand is not.
Sellers, you don't get a second first impression. When a home comes on the market, it's exposed to the largest pool of buyers it will ever see. Buyers make decisions quickly. If it's priced right, it gets activity. If it's overpriced, it gets passed over. And once a buyer has passed, they rarely come back, even after a price reduction. Price reductions don't fix the original problem. They simply expose the property to a new group of buyers who weren't looking before, or sometimes some buyers who were looking and waiting for a price drop, as I've heard happen recently.
Buyers have options right now and they're acting like it. With nearly three months of inventory, buyers have real choice and we can see that shift in the numbers.
If we rewind a year to April 2025, we had 73% of homes sell at or above list price. The dark blue is above list and the lighter blue is at list. And then in April 2026, we had 44% sell at or above list price. More importantly, only 56% of listings taken in the past 12 months sold. So 5,053 closed versus 8,952 listings taken, which is insane to me.
With all that said, I don't want sellers to be scared. With a shift in pricing strategy and fabulous preparation and presentation, homes are selling. We still have 27% sell over list price, which is big. That's homes that likely had multiple offers or competition of some sort. I have had many stories of multiple offers happening recently on both my listings and homes that my buyers have competed for.
Some more general stats: we're seeing median closed sales price at $1,612,000, which is just down 5% from this time last year.
I also love this graph. It shows sales price to list price, which I like for both sellers and buyers. It has market time and then percentage of median sales price to list price. So, you know, homes sitting on the market for 15 days or less are normally selling at 100%, where 15 to 30 days they're selling at 97%, and so on. It's a great graph to use when you are negotiating, if you're a buyer, if you're listing or thinking about accepting an offer as a seller. Of course this is not all there is to look at, but it's a great resource to have and something I love to share with my clients.
And we have this for every area. So we have it for the Eastside, Seattle, Snohomish, and more niche areas, like if you're looking in North Kirkland, or if you're looking in West Bellevue. It's a great thing to use.
Buyers, now is the time to have an agent who can communicate with the listing agent. Some homes are selling quick with multiple offers, and you need to be ready to compete, while others are sitting and you need someone in your corner who is a strong negotiator. There is enough inventory out there that this is a great time for you to take advantage.
One last thing before we move on. This is a new graph for us, and I really like how the information is displayed. If you want a full copy of these market updates, or a more specific area, please let me know and I'll send it on. It goes a lot more in depth than what I've shown here and gone over in my videos, so it's a great resource to have.
Eastside condo time. I'm not gonna lie, the condo market has been tough, and we can see that here. It has been hard for two years now and there's been a lot of inventory. We're at 4.6 months of inventory, which is very high. We were at 3.3 last year, which was really high, and we're obviously higher now. However, our pending sales aren't down too much from last year. Our median closed sales price is down 7% from this time last year at $700,000.
This graph that I really love to look at is just really telling. You can see how much inventory we have, but then in some markets you're like, "oh, but this many are still selling above list price, that's awesome." Whereas the condo market, I think you're getting the opposite of that. We only had 6% sell above list price, 24% at list price, and the rest were either below or had a price change before sale. So yes, some are getting scooped up and selling, but a lot are sitting, which is tough.
Next, let's go over Seattle residential. So Seattle is a bit of a different story than the Eastside. There is still lots of inventory, don't get me wrong, but not quite as high. And although sellers are in a slightly better position in Seattle than they are on the Eastside, there's still enough inventory that pricing and prep are huge. And sellers don't get a second first impression.
We are at 1.9 months of inventory. Our pending sales are down, but not by much, and the median closed sales price is down by just 3%, putting us at $998,899. So just shy of a million for a median-priced residential home in Seattle. But what's interesting is we're seeing 38% sold above list price, 20% sell at list price, and the rest below or with a price change before sale. That is substantial numbers at or above list price, which is just positive to see.
Something that is not quite as positive, but something I want to note: one in six accepted offers is not closing. Managing a transaction through to the finish line matters as much as getting it under contract. Getting an offer is not the finish line. There are inspections, financing, and appraisals that require active deal management through close. Sellers should prioritize buyer qualification upfront, especially regarding financing.
Now let's go into Seattle condos. Again, high inventory: we're at 4.4 months of inventory, which is higher than last year, but not by too much. And then we're basically flat on pending sales month to date. Median closed sales price is down 4%, putting us at $575,000. We are seeing slightly more selling above list price than at list, but not by much. So 11% above list price, 22% at list price, and the rest either below or with a price change before sale. Similar themes, but again, it's a different market than the Eastside, and every niche area is different than the next.
Next up, we have Snohomish County residential. It's an entire county, so look at the numbers and you might think, wow, that's so many, but it is a much bigger geographic area. Similarly to Seattle, we are still in a seller's market here, although inventory is very, very high. We're at 1.9 months of inventory. To be a seller's market, it's like two months and below, so we're really on the cusp here, but technically still a seller's market.
Inventory is obviously a lot higher this year than it was last year. Our pending sales are basically flat though. And our median closed sales price is also flat. So $799,992 is the median closed sales price to get a home in Snohomish County, but that varies greatly depending on where you are looking in the county: if you're looking in unincorporated areas, if you're looking within city lines, if you're looking more north or more south. It's huge. But it's a good median number to note.
What was most interesting to me is sold above list price: we had 31%. So we're seeing more selling above list price and at list price, but obviously still quite a few below and with a price change before sale.
The bottom line with the Snohomish County market right now is it is remaining active, but the dynamics have changed from the ultra competitive conditions of prior years. Inventory growth is giving buyers more leverage and requiring sellers to be more strategic. Location and price point matter a ton. And if you're looking to buy in the new construction arena, watch for price corrections and incentives. This market rewards accurate pricing, strong preparation, and expert guidance throughout the entire transaction cycle, which is a continued theme here.
Last but not least is Snohomish County condos. We're seeing a big spike in active listings at the end of the month, but our pending sales are down a little bit, not by much. Our median closed sales price is down 5% to $490,000. And then we are seeing 18% sold above list price, which is a lot more than we saw in both the Eastside and Seattle condo markets, and 21% sold at list price.
For me this past month, I've been seeing multiple offers on homes in great areas that are presented well, priced well, and marketed well. They're selling quick and some with multiple offers. This one I wasn't involved in, but this past week in Seattle there was a home listed at $1.2 million that got 26 offers. Yeah, 26. And that's not to scare buyers because, as we've seen, inventory is very, very robust, but instead to encourage sellers and ensure buyers are ready to go when the right home comes on the market. There's not always going to be time to tour multiple times and think about it a lot. Some homes are selling quick and you've got to be ready to go.
If you are considering selling or buying this year, I would love to talk over the specific areas with you so you can know what to expect and trends we've been seeing in certain neighborhoods and cities. If you're wanting any full reports for certain areas or just what I've been seeing in specific markets, please reach out and I'd be happy to share them with you. I can pull these reports from much more niche geographic areas, which is so helpful for buyers and sellers.
If you don't know me, my name is Bella Chaffey Lakic. I've been a realtor in the greater Seattle area for over seven years now. Born and raised on the Eastside, I know this area inside and out and I would absolutely love to help break down the area for you if you're thinking of relocating here, or help you with any of your local buying, selling, or investing needs. Thanks for watching, and I'll see you in the next one.
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