Homebuyers Gain More Choices as Sales and Prices Ease

Published on: September 3, 2026

Northwest Multiple Listing Service (NWMLS) today released its August 2026 Market Snapshot, providing the latest residential real estate data and market trends from across its Washington service area.

Homebuyers across much of Washington had more properties to consider in August as active listings increased 22.0% from a year ago, while home sales and median prices eased, according to the latest data from Northwest Multiple Listing Service (NWMLS).

Market Recap 

Active listings reached 24,675 at the end of August, up from 20,219 a year ago and giving buyers more than 4,400 additional homes on the market. Twenty-five of the 27 counties in the NWMLS service area experienced year-over-year inventory growth.

Northwest MLS brokers added 9,546 new listings during the month, a 9.3% increase from August 2025. Available supply grew faster than buyer activity, with closed sales decreasing 7.6% year over year to 5,861. The median sales price for residential homes and condominiums declined 2.3% to $635,000.

At the August sales pace, the NWMLS service area had 4.21 months of inventory, up from 3.19 months in August 2025. Market conditions continued to vary significantly by county, property type, and price range.

“High interest rates continued to put a damper on the housing market in August,” said Steven Bourassa, director of the Washington Center for Real Estate Research (WCRER). “Higher rates were reflected in significant declines in numbers of home sales (down about 7.6% year over year) and median home prices (down 2.3%). Meanwhile, listings continued to show a large year-over-year increase (up by 22%).”

“High inflation rates and high levels of government borrowing will continue to put upward pressure on interest rates, with ten-year Treasury yields rising and expectations that the Federal Reserve Bank will raise short-term rates at their upcoming meeting in mid-September,” Bourassa added.

August 2026 Key Takeaways

Active Listings

• Active listings increased 22.0% year over year, with 24,675 properties on the market at the end of August 2026, compared to 20,219 at the end of August 2025.
• Twenty-five of the 27 counties in the NWMLS service area experienced year-over-year inventory growth. The five counties with the largest increases were Wahkiakum (+55.2%), Snohomish (+39.3%), Okanogan (+38.4%), Thurston (+33.2%), and Walla Walla (+32.9%).

Sales Activity and Total Dollar Value

• Closed sales decreased 7.6% year over year, with 5,861 transactions completed in August 2026, compared to 6,341 in August 2025.
• The total dollar value of August closed sales was $4.20 billion for residential homes and $391.5 million for condominiums, totaling $4.59 billion.

Median Sales Price

• The median sales price for residential homes and condominiums was $635,000, a 2.3% decrease from August 2025, when the median price was $650,000.
• The counties with the highest median sales prices were San Juan ($914,500), King ($845,000), and Snohomish ($724,500). The lowest median prices were recorded in Ferry ($202,500), Adams ($278,000), and Columbia ($315,000).

Consumer and Broker Activity

NWMLS also tracked consumer and broker activity as buyers navigated a larger selection of available homes.

• Keyboxes at listed properties were accessed 168,888 times in August 2026, 2.5% more than in August 2025.
• A total of 118,595 property showings were scheduled through NWMLS-provided showing software, 3.2% fewer than in August 2025.
• A total of 26,619 listings received at least one scheduled showing, an increase of 11.4% from one year ago. Although the total number of scheduled showings declined, showing activity was distributed across more listings.
• A total of 23,815 listings were eligible for the NWMLS Down Payment Resource program, 7.5% more than in August 2025. Overall, 74.7% of listings in the NWMLS database qualified for down payment assistance programs.*

*This count includes all property types in the NWMLS database, including multifamily properties and manufactured homes in parks.