Is the Seattle Housing Market Cooling? June 2026 Data Breakdown

The May 2026 data from the Northwest MLS is in, and the story is different depending on where you look. Seattle's median home price has climbed roughly 3.5% year-over-year to nearly $900,000 across all home types. Bellevue tells a very different story: median prices are down almost 11% year-over-year, new listings are up 15%, and closings are declining. The impact of tech layoffs and Washington's millionaires tax is showing up clearly in the numbers.

In this video, Emily Cressey breaks down what the data actually means for buyers and sellers across Seattle, Bellevue, Shoreline, and Bothell:

👉 Median sales price trends across four key metro areas
👉 New listings and inventory levels: who has more, who has less
👉 Days on market: why most homes are still selling in under two weeks
👉 Months of supply and what it means for buyers vs. sellers
👉 Sale-to-list price ratios and where concessions are showing up
👉 Price per square foot trends, including Shoreline's 6.5% gain driven by light rail
👉 Showings-to-offer ratios and what they signal about pricing
👉 Where the opportunities are for buyers right now, especially on the Eastside

The bottom line: this is still largely a sellers market for well-priced, move-in-ready homes. But if you are buying on the Eastside or in the luxury price range, you may have more leverage than you think.
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