Washington Housing Inventory Surges 24.5% in September 2026

  • Washington Housing Inventory Rises 24.5% as Buyer Activity Slows

    Homebuyers in the Northwest Multiple Listing Service (NWMLS) region had more properties to choose from in September 2026, as active listings reached their highest level for the month since 2014.

    According to NWMLS’s September market report, active listings increased 24.5% year over year to 24,965 properties, up from 20,052 in September 2025. At the same time, pending sales and completed transactions declined, while the median sale price remained relatively stable.

    The figures point to a market where available supply is growing faster than buyer activity, giving purchasers more options than they had a year ago.

    Inventory Reaches Its Highest September Level Since 2014

    The 24,965 active listings recorded at the end of September represented nearly 4,900 more properties than were available a year earlier. Inventory increased in 24 of the 27 counties covered by NWMLS.

    Snohomish County recorded a 44.2% year-over-year increase in active listings, while inventory rose 31.1% in King County and 21.6% in Pierce County. These increases indicate that the expansion in available homes extended into several of the region’s largest housing markets.

    NWMLS brokers added 9,996 new listings during September, an 8.7% increase compared with the same month in 2025.

    Pending and Closed Sales Decline

    Despite the increase in available homes, fewer properties moved into contract or completed a sale.

    Pending sales fell 15.1% year over year to 6,231, compared with 7,335 in September 2025. NWMLS reported that this was the sharpest year-over-year decline in pending sales recorded during 2026.

    Closed sales declined 8.9% to 5,623 transactions, down from 6,170 a year earlier. The September total was also the lowest for that month in NWMLS’s data going back at least to 2014.

    The gap between rising inventory and declining sales activity suggests that homes are entering the market faster than buyers are committing to purchases.

    Home Prices Remain Relatively Stable

    The median sale price for residential properties and condominiums in the NWMLS service area was $625,000 in September, down 0.9% from $630,700 a year earlier.

    The relatively small price decline contrasts with the sharper changes in pending and closed sales. It also shows why a market with more listings does not necessarily mean prices are falling rapidly across every community.

    Results can vary by county, property type, price range and local demand. Buyers and sellers should review local market data rather than assume that the regional median reflects conditions in every neighborhood.

    Mortgage Rates Continue to Affect Affordability

    Mortgage costs remain an important consideration for prospective buyers. Freddie Mac reported that the average U.S. 30-year fixed mortgage rate was 7.24% on October 29, 2026, down from 7.32% the previous week.

    Although rates eased late in October, borrowing costs can still affect monthly payments and the amount buyers qualify to borrow. Individual mortgage offers vary according to factors such as credit history, down payment, loan type and lender.

    The September housing figures do not establish that mortgage rates alone caused the slowdown in sales. However, financing costs remain one of several factors households may weigh when deciding whether and when to purchase a home.

    What the Market Shift Means for Buyers and Sellers

    For buyers, the larger selection of homes may provide more opportunities to compare properties, assess condition and negotiate terms. The increase in inventory does not guarantee that every seller will accept a lower offer, particularly in areas where demand remains relatively strong.

    For sellers, pricing and presentation may be increasingly important as buyers gain more options. Reviewing comparable recent sales and current competing listings can help owners set realistic expectations.

    NWMLS reported 4.44 months of inventory in September, up from 3.25 months a year earlier. This measure estimates how long it would take to sell the current supply at the prevailing sales pace, assuming no additional listings entered the market.

    The data suggests conditions are becoming more favorable to buyers than they were a year ago, although market conditions differ across the region. For anyone planning a move, current local figures and professional advice can provide a more useful guide than statewide generalizations.