We’re starting to see the first real data points for the 2026 market. Two weeks in, the “lock-in effect” may be thawing. We’re seeing a noticeable bump in new listings compared to this time last year (see charts below). Interestingly, while inventory is up, buyer demand is holding steady, even with rates hovering just over 6% vs 7% a year ago.

The Early Numbers:

• New Listings: 851 have hit the market so far in King County
• Pending Ratio: About 15% of those are already under contract (though keep in mind, some of these “new” listings are year-end re-lists).

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Noteworthy deals last week

• Most expensive pending: $5.8M Bellevue new construction
• Highest % over asking sale: Kirkland rambler for 17% over
• Most expensive sale: Hunts Point waterfront for $17.37M
• Least expensive sale: Lake City condo for $150K
• Most popular Seattle listing on Redfin: Whittier Heights rambler at $995K (already pending)

Links

• U-Haul ranking shows WA is bucking the trend (Seattle Times)
• Why Seattle-area homebuyers can’t ‘make the deal work’ (Seattle Times)
• What was your experience buying or selling a Seattle-area home in 2025? (Seattle Times)
• Trump wants to bar Wall St. investors from buying single-family homes (NYT)
• Microsoft exec responds to mass layoff rumors (Seattle Times)
• Crow Woods co-housing: a model for Seattle middle housing (DJC)
• Why Microsoft is reversing its office space exodus (Seattle Times)
• Hunts Point estate fetches $17.4M in first major luxury sale of 2026 (PSBJ)
• Seattle housing demand reached decade low in 2025, but here’s why this year may be different (PSBJ)

New listings by week

Seattle: 285 new listings last week, up 247% w-o-w
Eastside: 168 new listings last week, up 354% w-o-w

Homes going pending by week

Seattle: 100 pending last week, up 37% w-o-w
Eastside: 58 pending last week, down up 45% w-o-w

Eye candy

$3.25M Portage Bay floating home by Lithic Construction

$2.7M downtown condo

$1.6M Queen Anne modern (already pending!)

Check out last week’s market update, 6.2% vs. 7%: Will it move the needle?

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