Seattle housing market: 2,946 homes for sale, rates at 6.58%, and homeowner protections advance — July 2026

Seattle's market is still competitive, but the latest numbers give buyers more room to compare. Redfin's three-month median sale price was $879,474 through May, down 2.3% year over year, while the live Redfin listings page showed 2,946 homes for sale on July 27. Mortgage rates moved higher again. 1 2

The last row is a limitation of this week's public data. Redfin exposes a current listing count and a separate May market series; Zillow's accessible page exposes its June value index and pending time, but not months of supply. Keeping the measures separate is better than manufacturing a precise-looking ratio.

Redfin's May median fell 2.3% from the same three-month period a year earlier. The price per square foot declined 5.2% to $561, so the mix and size of homes sold matter alongside the headline median. Zillow's June 30 reading adds a second lens: its typical Seattle home value was $856,052, down 2.2% over the past year. Homes went pending in around 10 days. 3

For buyers, that combination means negotiation is more plausible on listings that have been sitting or need work. It does not mean every well-priced home is available at a discount. Redfin's competition score was 86 out of 100, and its typical home still sold in around 12 days in the market summary. Hot homes could go pending in about five days and sell for roughly 2% above list. 1

The 2,946 homes visible on Redfin's Seattle listings page on July 27 are the clearest current supply signal available in the public city pages. The page ties the figure to MLS GRID data and updates frequently, so it is not a clean comparison with the May closed-sale count. 2

More visible choices make it easier to reject an ambitious price, compare concessions, and wait for a better fit. Sellers face a wider competitive set than they did when homes moved in a week. The citywide median and the live count describe different clocks, but together they point to a market that is selective rather than frozen.

Freddie Mac's July 23 survey put the 30-year fixed average at 6.58%, up from 6.55% the week before. The 15-year average rose to 5.96% from 5.93%. Compared with a year earlier, the 30-year rate was lower and the 15-year rate higher. 4

At Redfin's $879,474 median, a 20% down payment leaves a loan of about $703,579. Principal and interest at 6.58% is roughly $4,484 per month on a 30-year schedule, versus about $4,559 at last year's 6.74%. This illustration excludes property taxes, insurance, HOA dues, mortgage insurance, and closing costs. The year-over-year rate improvement helps, but this week's increase makes the monthly budget slightly tighter again.

The freshest housing-related action is a homeowner-protection bill, not a new zoning vote. On July 22, Seattle's Housing, Arts, and Civil Rights Committee passed Council Bill 121259. The bill would create a city-managed Do Not Solicit List for owners who do not want unwanted offers to sell their property. Violations could bring civil penalties of $1,000 for a first offense and $2,000 for later violations within a year. The full Council is scheduled to consider it on July 28. 5

A separate July 14 action expanded Seattle's Utility Discount Program to 31,000 additional low-income households. Starting in January 2027, households below 60% of area median income would qualify for a 60% Seattle City Light discount and a 50% Seattle Public Utilities discount, funded by average monthly rate increases of 50 cents and 27 cents. 6

For future supply, January's Centers and Corridors legislation remains the watch item. Seattle's planning office says it would allow more apartments and condos in new and expanded centers and along frequent-transit corridors, but the project page does not show a later passage date. 7

The buying decision turns on the property, price, and financing terms more than on a citywide rebound. Seattle has more visible homes to compare, but the best-priced listings can still move before the broader market feels easy.