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Almost every buyer wants to know whether there’s an opportunity to get a better deal. At the same time, sellers want to know whether they can still receive a strong price for their home.
Here in the Puget Sound region, both can be true.
The market has become more favorable for buyers, but it has not shifted evenly.
Conditions can change significantly depending on the county, city, neighborhood, price range and type of property.
That means a buyer looking at a condominium in Seattle may have a very different experience from someone competing for a well-priced home in Edmonds, Shoreline, Bothell or Snohomish.
One Number Helps Show Who Has the Advantage
One of the best ways to measure the balance between buyers and sellers is months of inventory.
This estimates how long it would take to sell the homes currently on the market if no additional properties were listed and sales continued at the current pace.
Generally:
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Fewer than four months: Conditions tend to favor sellers.
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Four to six months: The market is considered more balanced.
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More than six months: Conditions tend to favor buyers.
According to the Northwest Multiple Listing Service’s July 2026 market data:
- King County had 3.88 months of inventory.
- Snohomish County had 3.01 months of inventory.
- The overall Northwest MLS service area had 3.74 months of inventory.
Those numbers remain slightly below what is traditionally considered a balanced market. However, buyers have considerably more selection than they did one year ago.
Buyers Have More Homes To Choose From
At the end of July, King County had 7,836 active residential and condominium listings, an increase of approximately 24% from July 2025.
Snohomish County had 2,878 active listings, an increase of nearly 35% from the previous year.
That additional inventory is giving buyers more time to compare homes and, in some situations, negotiate on price, repairs, closing costs or other terms.
But more inventory does not automatically mean every seller must offer
concessions. Homes that are properly prepared, accurately priced and located in desirable neighborhoods can still attract strong interest.
Prices Are Moving Differently Across the Region
The median sale price for residential homes and condominiums in July was:
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$879,500 in King County, approximately 0.5% higher than July 2025.
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$719,000 in Snohomish County, approximately 6% lower than July 2025.
A change in the median price does not mean every individual home gained or lost that same amount. Median prices can also be affected by the size, location and type of homes that happened to sell during the month.
Still, the difference between King and Snohomish Counties illustrates why national headlines—and even broad Puget Sound statistics—do not tell the entire story.
Property Type Makes a Big Difference
The market also looks different when single-family homes and condominiums are separated.
In July:
- King County single-family homes had 3.34 months of inventory.
- King County condominiums had 5.91 months of inventory.
- Snohomish County single-family homes had 2.88 months of inventory.
- Snohomish County condominiums had 3.66 months of inventory.
That puts the King County condominium market much closer to balanced conditions, while many single-family-home markets remain more favorable to sellers.
Even within these categories, conditions can change from one neighborhood or price range to another.
What This Means for Buyers
Buyers generally have more choices and negotiating opportunities than they did during the highly competitive markets of recent years.
A home that has been on the market for several weeks, needs updating or was initially priced too high may provide an opportunity to negotiate. Buyers may also be able to request repairs, closing-cost assistance or other favorable terms.
However, attractive homes that are priced correctly can still sell quickly. Buyers should not assume every seller is willing to accept a substantially lower offer.
What This Means for Sellers
Sellers can still achieve excellent results, but pricing and presentation matter more than they did when nearly every listing received immediate attention.
Starting too high can cause a home to sit on the market while buyers focus on newer or better-priced competition. The strongest strategy is to evaluate recent neighborhood sales, current competing listings, property condition and buyer activity before choosing a price.
The Biggest Mistake To Avoid
The biggest mistake is assuming the entire Puget Sound region is either a buyer’s market or a seller’s market.
A buyer may have substantial negotiating power on one property and face competition on another. A seller may receive strong interest during the first week, while a similar home in a different neighborhood or price range takes considerably longer to sell.
The right strategy should be based on the specific property and its immediate competition not a national headline.
Bottom Line
Buyers have more options and greater negotiating room than they had a year ago, but many parts of North King and South Snohomish Counties still have less than four months of inventory.
If you’re wondering what the numbers look like in your neighborhood or for the type of home you’re considering I would be happy to prepare a more specific market analysis and help you determine the best strategy.
Reach out to me Michael@LewisSmithTeam.com
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