Seattle Condo Market Snapshot: Prices, Sales, Inventory
Uncertainty is showing up in Seattle’s condo pricing as last year’s peak conditions faded.
September 2025’s median fell to $525,000 from $575,000.
Average time on market stretched to 50 days by September 2025, underscoring a slower pace than 2022–2023.
Tightening financing amid high interest rates is also contributing to broader housing market strain as development timelines slip.
Price Disruption
January 2026’s citywide median was $577,000, a 19.3% drop from January 2025’s $689,975.
The 2025 median sale price was $585,000.
Traditional condos posted a $445,000 median, down 12.9% year over year.
Non-traditional condos measured $775,000, down 5.8%.
Sales and Inventory Strain
Sales velocity weakened.
September 2025 logged 189 sales, and January 2026 fell to 142.
Active inventory rose 21.6% year over year, with months of supply jumping to 5.4.
New listings pushed September inventory to 2.9 months, a high.
List-to-sale stayed at 99.4%.
A neighborhood breakdown shows non-traditional units as one in three sales and one in four listings.
What’s Driving the Seattle Tech Slowdown in 2025–2026?
As mass layoffs and AI-driven restructuring hit core employers, Seattle’s tech-centered economy is showing acute strain.
Layoffs Concentrate at Dominant Employers
Microsoft and Amazon have shed more than 46,000 workers since 2023, about 85 percent of local tech cuts.
Nearly 13,000 layoffs hit Seattle–King County in 2025, with over half in information, including about 2,300 Amazon jobs cut in October and 600 software roles statewide.
AI Displacement Deepens Corporate Restructuring
Tech giants are spending billions on data centers while competing for AI talent, even as Microsoft signals role replacement and Amazon warns more cuts.
Job postings fell 35 percent from February 2020 to October 2025.
Unemployment rose above 5 percent.
450 restaurants closed in 2025, and Seattle faces a $146 million revenue shortfall.
Meanwhile, Seattle’s median rent reached $2,026 as of March 2025, adding new pressure to household budgets.
How the Seattle Tech Slowdown Changes Condo Buyer Demand
While Seattle’s condo market still draws well paid professionals, the tech slowdown has sharply reduced the most reliable buyer pool.
Microsoft cut over 3,200 Washington jobs since May 2025, and tech workers fell from 60% of sales in 2022 to 40% in 2025.
Demand Disruption in Condo Searches
Headlines from Amazon and Meta cuts add hesitation even for stably employed buyers.
Touring habits have slowed, with listings taking 25 to 40 days on market versus 5 to 10 previously.
Buyers now compare more options as inventory rises and bidding wars fade.
Amenity priorities shift toward value, minor update potential, and locations farther from the urban core, including negotiable Eastside sellers.
January 2026 saw 205 pending units, down 8.9%, as sellers outnumbered buyers regionwide.
Seattle Condo Prices Amid the Tech Slowdown: Key Trends
Even though Seattle’s condo market avoided a crash, pricing data show a sharp reset from peak levels amid the tech slowdown. Citywide median sales fell to $577,000 in January 2026, down 19.3% from January 2025’s $689,975 record.
Price Reset Signals Stress
Traditional condos dropped 12.9% year over year to $445,000. Non-traditional units slipped 5.8% to $775,000.
A 0.4% month over month uptick suggests tentative stabilization after the pullback.
Months of inventory jumped citywide to 5.4 from 3.02 in December 2025. Inventory rose 21.6% year over year, boosting buyers’ leverage.
Snapshot
| Metric | January 2026 |
|---|---|
| Median price | $577,000 |
| Months of inventory | 5.4 |
| Inventory change YoY | +21.6% |
More listings and longer days on market elevate negotiation risk tied to rental conversions and HOA governance.
Who’s Impacted Most in the Seattle Condo Market Next?
How the tech slowdown redistributes risk across Seattle’s condo market is becoming clearer as sales volumes slip and inventory climbs.
Tech buyer share fell from 60% in 2022 to 40% in 2025.
Most Exposed Buyers
Microsoft cut over 3,200 Washington jobs since May 2025.
Hiring slowdowns signal softer 2026 demand with payments near $3,600 a month.
First-time buyers face constrained entry-level inventory and a lock-in effect.
Multigenerational renovations also reduce entry-level condo demand.
Sellers and Capital Holders Under Pressure
Median prices slipped to $525,000 in September 2025 from $575,000 a year earlier.
Rising spring 2026 listings and non-traditional units distort pricing.
Local investors see fewer bidding wars as inventory grows, while slowing construction limits future supply.
HOA boards confront tighter budgets as closings remain muted.
Assessment
Seattle’s condo market is entering a riskier phase as tech hiring cools and relocations slow.
Demand is shifting toward price sensitive buyers, while sellers face longer marketing times and higher negotiating pressure.
Inventory levels and financing costs will determine whether softness stays orderly or turns into sharper repricing.
Projects tied to high income urban renters and first time condo buyers appear most exposed.
The next quarters will test liquidity, not just valuation across key neighborhoods.
