Monthly Market Update
March 2026
Market Update
The market continues its transition toward balance. Inventory is up 60% year over year, supply is expanding faster than demand, and execution has become the defining factor. Bella breaks down the March numbers across the Eastside, Seattle, and Snohomish County.
March 2026 At a Glance
The Numbers That
Matter Most
March housing data from the Northwest Multiple Listing Service (NWMLS) across key markets. Active inventory is up 60% year over year on the Eastside, year-to-date closed sales are up 1%, and buyer demand remains steady. Supply expansion, not demand collapse, is the story of this spring.
Bella's Analysis
Supply Is Expanding.
Execution Is Everything.
The March data tells a clear story: this market is transitioning toward balance, and that transition is being felt across every segment we track. Active inventory is up significantly year over year, buyer demand has remained steady, and the gap between those two forces is creating a more selective environment for sellers. The distinction worth understanding is that this is a supply expansion, not a demand decline. Homes are still selling. The difference is that how a home sells now depends far more on strategy than momentum.
Eastside Residential
Eastside single-family inventory expanded again in March and is now up 60% year over year. That growth rate is not new: the last time year-over-year inventory was below 50% was December 2024, fifteen months ago. Buyer activity has picked up seasonally, but not at the same pace as new supply coming to market. Year-to-date closed sales are up just 1%, which means the pool of buyers has not grown proportionally to the number of listings competing for their attention.
On price, the year-over-year decline of 9% reflects adjustment that already happened, not ongoing pressure. The correction from $1,710,000 to $1,550,000 in median price took place between March and August of 2025. Since then, pricing has been largely stable. What we are seeing now is not a market in decline but a market that corrected and held.
The data from March shows a market split by execution. 32% of closed listings received multiple offers. 68% sold in under 15 days. At the same time, 21% sold below their original list price and 25% required a price change or a relist before selling. The spread between those outcomes comes down almost entirely to how a home was priced and presented from day one.
What this means in practice is that listings are now competing directly against each other for the same buyers. Homes entering the market well-priced and well-presented are generating offers quickly. Homes that miss on either front are sitting, and the longer they sit, the wider the gap grows between list price and what they ultimately close for. Early positioning is no longer a nice-to-have; it is the variable that determines results.
Eastside Condos
Eastside condos are seeing inventory up 40% year over year with pending sales down 19%, reflecting a softer demand environment in this segment. One counterintuitive data point: median closed sale price is actually up 3% to $728,000, a reminder that not every segment moves in the same direction even within the same market. Above-list-price sales are slim across the condo category broadly, making pricing accuracy especially important for sellers who want to avoid extended market exposure.
Seattle Residential
Seattle's single-family market is running a similar script to the Eastside but with a few distinctions. Active listings sit at 1,056, up 29% year over year, with months of supply at 1.6 months. The market still leans seller-favorable in many segments, but increased inventory is giving buyers more options than they have had in several years. Closed sales are up 7% year over year while pending sales are essentially flat, up about 1%.
Median price is $944,000, down 6% from $1,000,000 in March 2025. Well-priced homes are continuing to hold value and attract strong interest. The split-market pattern holds here too: 37% of homes sold above list, 18% at list, and 19% below. Buyer competition is real, but it is concentrated around homes that are priced correctly and show well.
Days on market is functioning as a leverage indicator. 65.8% of Seattle homes sold in 15 days or less at roughly 100.7% of list price. After 30 days, sale prices typically settle into the mid-to-high 90% range of original list. With 28% of Seattle listings having a price change before selling, the cost of overpricing is showing up clearly in the numbers.
Seattle Condos
Seattle condos are tracking the same pattern visible across all condo segments this month. Inventory is up 31% year over year, pending sales are down 10%, and median closed sale price is $603K, down 4%. Above-list-price sales are even less common here than in the residential market, and price changes before sale remain frequent. For buyers with flexibility on location and building type, this segment continues to offer the most room to negotiate.
Snohomish County
Snohomish County is telling the same broader story. Single-family inventory is up 49% year over year, pending sales are down 8%, and median price is down 3% to $770K. Despite the inventory surge, the outcome distribution is holding reasonably well: 25% of homes sold above list, 24% at list, 21% below list, and 30% required a price change before selling. For a county absorbing nearly 50% more listings than a year ago, those numbers reflect a market that is adjusting but not deteriorating.
Snohomish condos stand out as the one segment showing a positive pending sales trend, up 7% year over year even as active inventory spiked 62%. Median closed sale price came in at $501,000, down 5%. Price changes are more common in this segment than in others, and above-list sales are limited, consistent with the broader condo picture.
What I'm Seeing on the Ground
The data aligns with what has been happening in real transactions over the past month. Homes that are distinctive and well-executed are generating strong early activity, some with offer review dates added after listing. Well-priced, well-presented homes across segments are routinely going under contract within the first ten days. At the same time, quality homes with real appeal are sitting if the pricing or positioning is off, even in desirable areas. The pattern is hyper-local and price-point specific, which is why understanding your specific submarket matters more than following regional headlines.
The Bottom Line
More listings are competing for the same pool of buyers. That is the defining dynamic of this market right now. It is not a demand problem; it is a supply expansion. The market is not slow; it is selective. Competition is concentrated around quality and pricing alignment, and execution at every stage of the listing process is what separates strong outcomes from extended market exposure.
If you are thinking about buying or selling this year and want to understand what these trends mean for your specific area or price point, reach out any time. Bella can pull reports for specific neighborhoods and submarkets, which makes a significant difference in setting the right expectations before you move.
Video Transcript
Full Transcript
Read along or reference specific data points from the video above.
Market update time! Let's dive into it — the market continues to transition towards a balanced market!
Stats from March just came out — so I am talking closed sales, pending sales, sales prices, etc., and we are going to go over what we are seeing in a few markets, as well as what I have been seeing recently with my listings and my buyers.
I will touch on Seattle and Snohomish but we are going to start on the Eastside, residential only — so this is Bellevue, Redmond, Kirkland and beyond.
We saw 32% of closed listings receive multiple offers, 21% selling below their original list price, and 25% either changing their price or cancelling and relisting. 68% sold in less than 15 days on market, not cumulative days on market.
Now, what is driving this — active inventory expanded in March and is up 60% year over year. This isn't a new trend though — the last time year-over-year inventory growth was below 50% was 15 months ago, which was December 2024, so it's been a minute. Buyer activity has increased seasonally, but not at the same pace as inventory growth. Year-to-date closed sales are up 1%.
We are seeing increased competition with listings — each listing is now competing directly for attention, offers, and positioning. This is showing up in greater variation in results between similar homes — execution, negotiation, and presentation are paramount. We are seeing a wider spread between list price and sale price after extended exposure, and increased importance of early positioning — buyers aren't loving it when things are lingering!
Pricing stability is continuing. The year-over-year price decline of 9% ($1,550,000 vs. $1,710,000) reflects prior adjustment, not new downward pressure. That correction occurred between March 2025 and August 2025. Since then, pricing has largely stabilized.
The bottom line is that more listings are competing for the same pool of buyers. This is not a demand decline — it is a supply expansion. Execution continues to determine outcomes. Strategic pricing wins. Aspirational pricing lingers. The market isn't slow — it's selective. Competition is concentrated, not widespread, and driven by quality and pricing alignment.
Let's talk about Seattle residential real quick as well — again, we are seeing a more balanced market with steady demand, increased inventory, and greater emphasis on strategy.
Market positioning of active listings: we are at 1,056 which is up 29% year over year. Months of supply of inventory is 1.6, which is up 27% year over year. The market has shifted toward balance but still leans seller-favorable in many segments.
Increased inventory is creating more choice without eliminating competition. As far as inventory and demand go, pending sales were up 1% year over year. Buyer demand remains steady despite higher inventory levels. The gap between supply and demand has widened slightly, creating a more selective environment.
Median price is $944,000, which is down 6% year over year from $1,000,000 in March 2025. Prices have adjusted from peak 2025 levels but remain historically strong. Well-priced homes continue to attract strong interest and hold value.
As far as buyer competition and behavior goes, 37% of homes sold above list, 18% at list, 19% below list. Competition remains for well-priced homes, while others require negotiation.
Buyers are more price-sensitive and selective than in recent years. Days on market equals leverage — 65.8% sold in 15 days or less at around 100.7% of list price on average. Early activity drives the strongest outcomes for sellers. After 30-plus days, pricing typically softens into the mid-to-high 90% range.
Pricing strategy matters — 28% of homes had a price change. Homes with 30 to 60 days on market sell between 95.6% and 98% of list price. Pricing correctly early drives stronger results, while overpricing leads to delays and reductions. Buyers can definitely gain leverage on homes that sit, with opportunities for price reductions, credits, and buydowns.
Bottom line: the Seattle residential market saw a 7% increase in closed sales year over year while active listings are up 29% year over year. Once again, demand is staying steady while supply expands. Success in today's market comes down to pricing, preparation, and how a home stands out against the competition — not timing alone.
Real quick to Snohomish County residential — so this is a whole county and it is telling a similar story. We have more inventory — we are up 49% year over year, pending sales are down by 8%, and median pricing is down just 3% and is now $769,950. We are seeing 25% of homes sell over list price, 24% at list price, 21% below list price, and 30% are having a change before selling. Honestly, some pretty respectable numbers.
Let's quickly blast through condos — we are in Snohomish so let's stay here and work our way backwards. We have a spike in inventory — active listings are up a whopping 62% year over year but we are also seeing more pending transactions and are up 7% compared to a year ago — a small change but still in a positive direction. Median closed sale price is down 5% to $501K and we are seeing more price changes than we are in other markets and less going over list.
Seattle condos — inventory is up 31% year over year and pending sales are down 10% year over year. Median closed sale price is down 4% at $602,750 with even less homes selling above list price, and many having a price change.
And we have come full circle back to the Eastside! For Eastside condos we are seeing inventory up 40% year over year with pending sales down 19%. But median closed sales price is actually up 3% now at $728K. Again, not many selling over list price, which is true for condos in general. Making it clear just how important pricing and preparation is!
For me, this past month I have been seeing homes that are unique — in the fun and cool way — sell super quick, some even with offer review dates added in after listing. I have also seen really well-priced and well-presented homes go within the first 10 days, but I have also seen some really awesome homes that have a lot of interest sit on the market. A lot of what I have been seeing has been hyper-specific to different areas and different price points.
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! If you are wanting any full reports for certain areas or just what I have been seeing in specific markets please reach out and I would be happy to share them with you! I can pull these reports for 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 have been a realtor in the greater Seattle area for over 7 years. Born and raised on the Eastside, I know this area inside and out and I would absolutely love to help break the area down for you if you're thinking of relocating here, or help 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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