Market Realities & Opportunities: Equity Growth, Improved Affordability & Overall Stability

With so many headlines about the housing market right now, I wanted to give you a clear, local, data-backed update, specifically breaking down what’s happening in King and Snohomish counties. While the national conversation can feel uncertain, the local numbers tell a much more grounded story.

The biggest disruption we have experienced so far this year was the increase in interest rates since the US conflict with Iran began on February 28th. Let’s put this in perspective. Pre-conflict, rates hit 5.99%, the lowest they have been since the summer of 2022, and they quickly jumped to 6.59% by March 23, 2026, and on April 27th, 2026 settled around 6.3%. All in all, they took a quick jump up, but have seemed to settle over the last few weeks.

While it was awesome to see 5.99% and the recent increase was disappointing, it’s important to also look back and understand that it is still more affordable to buy now compared to last year and the year prior. A year ago, on April 28th, 2025, rates were 6.83%, and on April 29th, 2024, they were 7.4%! This is a dramatic difference in favor of buyers now, coupled with flat prices year-over-year. Check out the charts below for both King and Snohomish Counties for Single-Family Residential Homes, which show the real numbers surrounding monthly payments.

With payments $316 lower in King County year-over-year and $366 lower in Snohomish County, this is a welcome relief for buyers. Further, check out the charts below for the year-over-year savings for Condominiums: $426 and $340, respectively. This is especially beneficial for first-time homebuyers who will often purchase this property type based on affordability.

The Big Picture: Still a Seller’s Market in Both Counties

Despite more inventory coming on the market, both counties are still in seller’s market territory for Single-Family Residential Homes:

King County: ~1.8 months of inventory (0-2 months = Seller’s Market, 2-4 = Balanced Market, 4+ = Buyer’s Market)
Snohomish County: ~1.7 months of inventory
Translation: Even with more listings, there are still not enough homes to meet demand.
Sellers should note that the homes that are being sold are properly prepared for market with accurate pricing.

Inventory: Rising, But Not Oversupplied

You may be hearing that inventory is “up”, and that’s true. Here’s what that actually looks like locally for Single Family Residential Homes:

King County:

Available homes for sale in March 2026 are up 41% year-over-year .
New listings in March 2026 are up 13% year-over-year.
Month-to-date in April 2026, available homes for sale are up 19% over March 2026.

Snohomish County:

Available homes for sale in March 2026 are up even more, 46% year-over-year.
New listings in March 2026 are up 11% year-over-year.
Month to date in April 2026, available homes for sale are also up 19% over March 2026

What this means:

Buyers have more choices than last year, and inventory is building.
But we’re still below a balanced market, which is why prices are holding.

Home Prices: Stable!

This is where headlines often get it wrong.

King County Single Family Residential:

Median price in March 2026: ~$1,000,000 (up 1% year-over-year)
Prices are largely stable with slight upward pressure.

Snohomish County Single Family Residential:

Median price in March 2026: ~$775,000 (up 1% year-over-year)
More affordability, but still seeing modest appreciation.

Key takeaway:
This isn’t a declining market; it’s a normalizing one after rapid growth, with both counties still showing price stability.

Home Equity is High, and Real Estate is a Proven Investment:
The price growth for Single-Family Residential Homes since 2020 in King County has been 35%, and in Snohomish County, 47%. Even more so, prices have increased 84% over the last 10 years in King County and by 100% in Snohomish County.

Further, check out this chart below, which shows the national figures on equity growth since 1956. Real estate has proven to be one of the best long-term investments a person can make, which leads to building strong household and generational wealth.

Market Speed: Homes Are Still Moving

Even with more inventory, homes are still selling at a steady pace:

King County: ~33 days on market in March and ~ 28 days in April month-to-date.
Snohomish County: ~37 days on market in March and ~ 29 days in April month-to-date.

And homes are still selling very close to asking:

King County: ~99% of original list price.
Snohomish County: ~98% of original list price.

Well-priced homes that are expertly prepared for market are the ones that are moving quickly and seeing less negotiations, especially in desirable neighborhoods.

What This Means for You

If you’re a buyer:

You have more options than last year.
But competition hasn’t disappeared.
Waiting for rates to drop could mean more buyers entering at once, which will drive competition and create higher prices.

If you’re a seller:

You’re still in a strong position, equity growth has been abundant over the last 5-10 years, consistent over the last 7 decades.
Pricing correctly matters more than it did in the peak frenzy.
Homes are selling, but buyers are more selective.

Bottom Line

The headlines may sound dramatic, but the local reality is much more balanced:

Inventory is improving, but is still limited.
Prices are holding steady.
Demand remains strong across both counties.

If you’re thinking about making a move, or just want to understand how this applies to your specific situation, I’m always happy to help you interpret the numbers. Please reach out if you’d like to learn more. I can apply these figures to your property type, location, and price point to help you understand the market more clearly. Clarity is key to empowering strong decisions, and I always lead with the data to provide sound guidance.