King County Housing Market Update: September 2026 Numbers & What They Mean

The official September numbers are in, and they tell a story I’ve been watching unfold all year: buyers across King County finally have real choices again. The Northwest Multiple Listing Service (NWMLS) released its September 2026 statistics on October 6, and I’ve pulled out the numbers that matter most for my North King County neighbors — whether you’re hoping to buy your first home, sell your current one, or simply keep an eye on your biggest investment.

Every figure below comes straight from the official NWMLS release, which covers 27 counties across Washington. Let’s dig in.

What Happened in the King County Housing Market in September 2026?

Prices held steady while buyers gained breathing room: King County’s median sale price stayed at $850,000 — unchanged from a year ago — while the county’s supply of homes for sale grew to about 4.7 months of inventory.

Zooming out, NWMLS reported 24,965 active listings across its service area, up 24.5% year over year — the highest inventory level since 2014. Statewide months of inventory reached 4.44, a level we haven’t seen since February 2014. At the same time, sales slowed: closed sales fell 8.9% year over year to 5,623, pending sales dropped 15.1%, and 9,996 new listings came on the market (up 8.7%). The statewide median sale price was $625,000, down just 0.9% from a year ago.

What Is the Median Home Price in King County?

King County’s median sale price was $850,000 in September 2026 — exactly where it stood a year earlier, and still the highest among the core Puget Sound counties.

Breaking it down by property type, NWMLS data puts the median single-family home in King County at $949,975, while the median condo sold for $496,000, down 6.0% from last year. That flat overall number tells me pricing here has stabilized even as the broader market shifts. As Steven Bourassa, director of the Washington Center for Real Estate Research, put it in the NWMLS release: “Prices tend to rise quickly in a strong market but can be slower to fall when conditions weaken.”

How Much Inventory Is on the Market Right Now?

King County buyers had about 4.7 months of inventory to choose from in September — the most breathing room this market has offered in years.

King, Snohomish, and Pierce counties together held 57% of all active listings in the NWMLS service area, with tri-county inventory up 31.2% year over year to 14,294 homes. Months of inventory across the three counties rose to 4.27, up from 2.91 a year earlier. For context, analysts generally consider four to six months of supply a balanced market — which means King County is sitting inside that balanced zone for the first time in a long while.

What About Condos in King County?

The condo market is where buyers hold the most leverage right now: King County condos reached 7.05 months of inventory in September, closed condo sales fell 24.1%, and the median condo price dropped 6.0% to $496,000.

King County is home to roughly 60% of the region’s active condo listings, so this softness is concentrated right here. If single-family prices have felt out of reach, this fall’s condo market deserves a serious look — especially for first-time buyers. If you’re still saving up, my guide to down payment help in Washington State walks through programs that can put ownership closer than you think.

What Does This Mean for Buyers?

September’s numbers add up to the most buyer-friendly King County market we’ve seen in roughly a decade.

• More choices, less pressure. With regional inventory at its highest level since 2014, you can compare homes, sleep on a decision, and negotiate — luxuries buyers haven’t had in years.

• Less competition at showings. Statewide, listings were shown 104,936 times in September, down 12.9% from last year, and the average listing received 4.2 showings instead of 5.2. Fewer competing buyers means stronger negotiating positions.

• Down payment help is widely available. NWMLS reports that 74.7% of active listings qualified for at least one down payment assistance program, up from 72.9% a year ago.

• Condo opportunities. With condo prices down 6% and about seven months of supply, there’s real room to negotiate for buyers planning to stay put a few years.

What Does This Mean for Sellers?

You can absolutely still sell successfully in this market — the median price held at $850,000, after all — but pricing and presentation matter more than they have in years.

• Price it right the first time. With about 4.7 months of supply, overpriced homes sit while well-priced homes still draw attention.

• Presentation is back. When buyers have options, condition, staging, and great photos decide which homes get the showings.

• Expect negotiation. Inspection requests, closing cost credits, and longer timelines are part of today’s conversation — plan for them rather than being surprised by them.

• Your equity story is still strong. Values held steady year over year, so most longtime owners are still sitting on substantial equity.

If you’re in one of the North King County communities I serve — Bothell, Kenmore, and nearby — and wondering what these numbers mean for your street specifically, I’m happy to run them for your home. If a move is on your mind, my Moving to Bothell guide covers what buyers along the King–Snohomish line are weighing right now, and I’ve also published a companion Snohomish County September 2026 market update if your search crosses the county line.

King County Housing Market FAQ

Are home prices in King County dropping?

No — the overall median held at $850,000, unchanged year over year. The condo segment is the exception, with the median condo price down 6.0% to $496,000. Statewide, the median eased just 0.9% to $625,000.

Is fall 2026 a good time to buy a home in King County?

If you’ve been waiting for more selection and less competition, this is the most favorable fall for buyers in years — inventory is at its highest level since 2014 and showing activity is down. That said, the “right time” always depends on your finances, your timeline, and the specific home, which is exactly what I help clients think through.

Is King County a buyer’s market or a seller’s market?

It’s closer to balanced than it has been in a long time. At roughly 4.7 months of inventory, King County sits inside the four-to-six-month range analysts consider balanced — tilting toward buyers compared with the frenzied years behind us.

Where do these numbers come from?

All figures come from the Northwest Multiple Listing Service’s official September 2026 statistical release, published October 6, 2026, covering 27 Washington counties. I never quote stats I can’t source.

Thinking about making a move this fall or winter? Let’s talk about what these numbers mean for your situation — no pressure, just a clear-eyed look at your options. Call or text me at 206-930-4072, or visit holmrealestate.com to get started.