Q3 2026 Bellevue & Eastside Luxury Market Report
Bellevue & Eastside Luxury Market Report: Q3 2026
Q3 2026 kept the Eastside's two-speed market in motion. Single-family homes held a seller's market at 3.9 months of supply even as the median sales price slipped 5.8% year over year to $1,413,000. Eastside condominiums stayed in neutral territory at 5.8 months of supply, and Seattle condominiums crossed into buyer's-market territory at 8.3 months. Mortgage rates averaged 6.7%, up from 6.4% in Q2 and just under last year's 6.8%, so rising inventory, not cheaper financing, is what is shifting leverage toward buyers.
Key Market Insights: Q3 2026
What luxury buyers and sellers need to know from this quarter's Northwest MLS data:
Eastside single-family is still a seller's market, barely. At 3.9 months of supply, it sits just under the 4-month line. The median sales price fell 5.8% to $1,413,000 (from $1,500,000 in Q3 2025), homes took an average of 42 days to sell (up from 32), and the number of homes for sale jumped 44.97%.
Eastside condominiums remain neutral, and the gap with a year ago is wide. Months of supply rose from 3.5 in Q3 2025 to 5.8. The median sales price fell 12.44% to $563,000, and homes sold dropped 26.25%.
Seattle condominiums are now a buyer's market. Supply climbed from 5.1 months to 8.3 year over year, the median price slipped 2.78% to $525,000, and homes sold fell 21.15%.
Mercer Island is edging toward neutral. Supply moved from 2.7 to 3.9 months and inventory grew 25.81%, but the median price held at $2,410,000, down just 0.12%.
King County sits right at the line. It posted 3.9 months of supply and a $950,000 median (down 3.94%), and average days on market have climbed from 22 to 31 to 38 over three consecutive third quarters.
Eastside Single-Family vs. Condominiums: Same Region, Different Market
The gap between the Eastside's two property types is the clearest story in this quarter's data. Single-family homes in cities like Bellevue, Redmond and Kirkland are still working in sellers' favor, but buyers have more room than they did a year ago: inventory is up nearly 45% and average days on market rose from 32 to 42.
Condominiums have moved further. Eastside condo supply reached 5.8 months, up from 3.5 a year ago, and the market was already neutral in Q2 at 5.5 months, so this is a market that has stayed balanced rather than one that just flipped. The median price fell 12.44% to $563,000 (versus 5.8% for single-family), homes sold fell 26.25% (versus 7.96%), and condos took 70 days to sell compared with 50 a year earlier.
What it means: sellers of Eastside condos in Bellevue, Kirkland and Redmond should price against today's competition and market strategically. Buyers of lock-and-leave homes have more selection and more room to negotiate than a year ago. Single-family sellers who price accurately still hold the advantage, but it is narrowing.
Seattle and the Wider Region
Seattle single-family moved into neutral territory at 4.3 months of supply (it was 2.6 in Q2). The median sales price eased 3.47% to $975,000 from $1,010,000, and homes sold fell 14.41%. Seattle condominiums are the most buyer-favorable market in the Seattle metro area at 8.3 months of supply, with homes averaging 69 days on market versus 53 a year ago.
Several markets stayed firmly in sellers' hands. Bainbridge Island was the tightest at 1.9 months of supply, with its median up 2.85% to $1,370,000. Kitsap County (2.6 months), Gig Harbor (3.5 months, median up 7.51% to $930,000), Pierce County (3.7 months) and Snohomish County (3.6 months) also remained seller's markets. At the other end, Cle Elum carried 11.5 months of supply, yet its median still rose 11.39% to $900,000.
Mercer Island remains the region's price anchor: its $2,410,000 median is about 71% above the Eastside single-family median, and the homes that did sell averaged just 30 days on market.
Rates: Back Up From Q2, Still Below Last Year
The 30-year fixed conventional rate averaged 6.7% in Q3 2026 (Movement Mortgage), up from 6.4% in Q2 but below 6.8% a year ago and 6.9% in Q3 2024. With the year-over-year rate change only about a tenth of a point, rising inventory, not financing costs, is doing most of the work of rebalancing the market.
Puget Sound at a Glance: All 15 Markets
Q3 2026 vs. Q3 2025, sorted by market type and months of supply. Seller's market = 0–4 months of inventory, neutral = 4–6, buyer's = 6+.
| Market | Median Price | YoY Change | Months of Supply | Market Type |
|---|---|---|---|---|
| Bainbridge Island | $1,370,000 | +2.85% | 1.9 | Seller's |
| Kitsap County | $560,000 | −0.88% | 2.6 | Seller's |
| Gig Harbor | $930,000 | +7.51% | 3.5 | Seller's |
| Snohomish County | $750,000 | −2.60% | 3.6 | Seller's |
| Pierce County | $590,000 | +1.72% | 3.7 | Seller's |
| Eastside Single-Family | $1,413,000 | −5.80% | 3.9 | Seller's |
| King County | $950,000 | −3.94% | 3.9 | Seller's |
| Mercer Island | $2,410,000 | −0.12% | 3.9 | Seller's |
| Seattle Single-Family | $975,000 | −3.47% | 4.3 | Neutral |
| Island County | $650,000 | −1.52% | 4.4 | Neutral |
| Whatcom County NEW | $634,000 | +2.26% | 5.0 | Neutral |
| Eastside Condominiums | $563,000 | −12.44% | 5.8 | Neutral |
| Chelan County NEW | $575,000 | −4.17% | 6.7 | Buyer's |
| Seattle Condominiums | $525,000 | −2.78% | 8.3 | Buyer's |
| Cle Elum | $900,000 | +11.39% | 11.5 | Buyer's |
Source: Northwest Multiple Listing Service. Chelan and Whatcom Counties are included for Q3 2026 only. Information deemed reliable but not guaranteed.
New This Quarter: Chelan and Whatcom Counties
For Q3 2026 only, the report adds two markets beyond the Puget Sound core. Chelan County is a buyer's market at 6.7 months of supply, with a $575,000 median (down 4.17%) and homes averaging 57 days on market. Whatcom County is neutral at 5.0 months, with a $634,000 median (up 2.26%), and it was the only market in the report where the number of homes for sale fell year over year (943 to 882).
What This Means for Buyers and Sellers
Selling a condo on the Eastside or in Seattle: price against current competition from day one. With supply at 5.8 and 8.3 months, overpriced listings sit.
Selling a single-family home: you still have the advantage at 3.9 months of supply, but inventory is up nearly 45% year over year and days on market have climbed. Accurate pricing against recent comparables matters more than it did a year ago.
Buying: condo buyers have the most room to negotiate, particularly in Seattle. Single-family buyers have more selection than last year but should still expect competition for well-priced homes, especially on Mercer Island and Bainbridge Island.
These figures are regional medians. Your neighborhood, building or property type may be telling a different story, and I am glad to walk through what Q3 2026 means for your situation.
Q3 2026 Eastside Real Estate FAQ
Is the Eastside a buyer's or seller's market in Q3 2026?
Eastside single-family homes remained a seller's market at 3.9 months of supply, though just under the 4-month neutral threshold. Eastside condominiums were a neutral market at 5.8 months of supply, up from 3.5 months in Q3 2025.
What is the median home price on the Eastside in Q3 2026?
The Eastside single-family median sales price was $1,413,000, down 5.8% from $1,500,000 in Q3 2025. The Eastside condominium median was $563,000, down 12.44% from $643,000.
How does Mercer Island compare to the rest of the Eastside?
Mercer Island's median sales price was $2,410,000 in Q3 2026, essentially flat (down 0.12%) and roughly 71% above the Eastside single-family median. The market remained a seller's market at 3.9 months of supply, up from 2.7 a year earlier.
Are mortgage rates dropping in 2026?
Not in Q3. The 30-year fixed rate averaged 6.7%, up from 6.4% in Q2, though still below 6.8% a year ago, according to Movement Mortgage data.
Which Puget Sound markets are seller's, neutral and buyer's markets?
Seller's markets (under 4 months of supply): King County, the Eastside single-family market, Mercer Island, Bainbridge Island, Snohomish County, Pierce County, Gig Harbor and Kitsap County. Neutral markets (4 to 6 months): Eastside condominiums, Seattle single-family, Island County and Whatcom County. Buyer's markets (6+ months): Seattle condominiums, Cle Elum and Chelan County.
Download King County Q3 2026 Report → Download Eastside Single-Family Homes Q3 2026 Report → Download Eastside Condominiums Q3 2026 Report → Download Mercer Island Q3 2026 Report → Download Bainbridge Island Q3 2026 Report → Download Snohomish County Q3 2026 Report → Download Seattle Single-Family Homes Q3 2026 Report → Download Seattle Condominiums Q3 2026 Report → Download Pierce County Q3 2026 Report → Download Gig Harbor Q3 2026 Report → Download Kitsap County Q3 2026 Report → Download Island County Q3 2026 Report → Download Cle Elum Q3 2026 Report → Download Chelan County (new) Q3 2026 Report → Download Whatcom County (new) Q3 2026 Report →
Q3's Data Tells a Story — Let's Talk About Yours
Whether you are timing a fall or winter listing, weighing the new leverage in the condo market, or deciding how much to pay for a single-family home before inventory loosens further, I can show you what these numbers mean for your specific property or search.
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