Local Market Update – March 2026
The spring real estate market got off to an early start this year, with all four of our local markets seeing a surge in homes selling above list price in February compared to January, pointing to increased buyer activity. More sellers are entering the market, giving buyers a wider selection of homes to choose from. At the same time, prices have remained relatively stable, a sign that these markets...
Bellevue bet on AI — and it’s paying off
As tech giants snap up real estate on the Eastside, Bellevue is cementing its reputation as a hub for artificial intelligence. Light rail, newer office infrastructure, proximity to hyperscalers, a deep talent pool, and a proactive city council have combined to draw a new wave of tech jobs to the city — even as layoffs continue elsewhere in the industry. The broader tech industry has seen tens of...
Housing affordability gap narrows as rates fall
The income threshold for buying a home has declined for two consecutive years. Falling mortgage rates and rising household income have pushed the earnings needed to purchase a median-priced home to $111,252 — down from $115,870 in 2024 and $120,669 in 2023. Housing analysts generally consider a monthly payment at or below 30% of household income to be affordable. The numbers tell a more complica...
A new wave of development is coming to the Eastside
From design approvals to groundbreakings to long-awaited proposals finally moving forward, the Eastside is seeing a surge of residential and mixed-use development activity. Bellevue and Redmond are at the center of it, driven by high demand, transit investment, and a rental market that remains among the most expensive in the state. Bellevue holds the top spot as Washington’s most expensive renta...
Local Market Update – February 2026
The region’s housing market opened the year in a more balanced position, shaped by rising inventory, shifting buyer activity, and continued price adjustments across local markets. While affordability remains a central challenge, expanded housing supply and early signs of renewed buyer interest are beginning to influence market dynamics. KING COUNTY In January, King County’s median single-famil...
Downtown Seattle real estate shows signs of resurgence
Office tenants and downtown Seattle residents are capitalizing on new opportunities in the marketplace. With increased foot traffic, mostly due to recent return-to-office mandates, downtown is experiencing a resurgence that is reflected in the evolving real estate market. Seattle continues to be one of the fastest-growing cities in the country, with 2.2% population growth last year. More than on...
Renewed debate grows over short-term rental taxes in WA
Washington lawmakers are making another attempt to pass a short-term rental tax after a similar bill failed last year. If approved, House Bill 2559 would add a 4% tax on short-term rentals—translating to $8 on a $200-per-night stay. While the controversial bill will increase costs for property owners, the revenues will support Washington’s affordable housing initiatives. When similar measures ...
Trade-up buyers find sweet spot in King County’s shifting housing market
For the right type of buyer, the current market offers fresh possibilities. Homeowners ready to trade up from their starter homes to larger, more updated dwellings are finding strong interest in their listings, along with a pool of willing sellers ready to negotiate. The dynamic has created surprising opportunities for strategic buyers. Higher-end properties that might have sold quickly in previou...
Local Market Update – January 2026
As 2025 came to a close, December delivered a steadier-than-expected finish for the local real estate market. Inventory remained higher than a year ago, providing added options for buyers and easing prices. With December’s results closely aligned with October and November, the market’s long-term direction may hinge on whether active listings continue to grow as we move into spring. KING COUNTY...
