Is now a good time to sell a Seattle condo?
Seattle condo prices were down 9.3% year over year in April, and inventory hit a 14-year high. You can still sell well in this market, but it takes a different strategy than it did a few years ago.
Seattle’s condo market looks different in 2026 than it did just a couple of years ago.
If you own a condo in Seattle and you’re wondering whether to list it, you’re not imagining the shift. The numbers back it up.
Condo prices in Seattle are softer than they’ve been in years. Inventory is piling up. And buyers, for the first time in a long time, have the upper hand. That doesn’t mean your condo won’t sell. It means HOW you sell matters more than it used to.
Let’s look at what’s actually happening, and what it means for you.
Where Seattle’s Condo Market Stands Right Now
Seattle’s condo market has cooled noticeably this year, even as the broader housing market is holding up better than the headlines suggest.
In April, Seattle’s condo median price dropped 9.3% compared to the year before, according to Homes.com’s Seattle Housing Market Report. At the same time, months of supply for condos climbed to 5.4, the highest April reading for that property type since 2012.
Seattle Condo Inventory: Months of Supply
April 2026 condo supply reached 5.4 months, the highest April reading for condos since 2012.
Source: Homes.com Seattle Housing Market Report, April 2026
The Madrona Group’s June 2026 Seattle Housing Market Update, covering May activity, shows the same pattern continuing. Seattle condo prices averaged $659,441, down 3.7% year over year, with condo inventory sitting at 6.0 months.
For comparison, Seattle residential homes had just 3.0 months of inventory in the same report. That gap matters. It means condo sellers are competing in a very different market than single-family home sellers.
Months of Inventory by Property Type
Condos are carrying double the supply of residential homes.
Source: The Madrona Group, Seattle Housing Market June 2026 Update
This is not the whole Seattle market falling apart. It is condos, specifically, feeling the pressure.
| Metric | Condos | Residential homes |
|---|---|---|
| Avg. price, May 2026 | $659,441 (-3.7% YoY) | $1,254,360 (+8.7% YoY) |
| Months of inventory | 6.0 | 3.0 |
| List-to-sale price ratio | 98.6% | 101.6% |
Source: The Madrona Group, Seattle Housing Market June 2026 Update
For Seattle condo sellers, this is the practical takeaway: you are not just competing against last year’s prices. You are competing against every other condo buyer can choose from today. That means your pricing, condition, photography, staging, HOA story, and launch strategy all matter more than they did when inventory was tighter.
Where Seattle’s Condo Market Stands Right Now
Seattle’s condo market has cooled noticeably this year, even as the broader housing market holds up better than the headlines suggest.
In April, Seattle’s condo median price dropped 9.3% compared to the year before, according to Homes.com’s Seattle Housing Market Report. At the same time, months of supply for condos climbed to 5.4, the highest level for that month since 2012. That’s over a decade of condo inventory data, and this April topped it.
Seattle condo inventory: months of supply (April)
5.4 months is the highest April reading since 2012
Source: Homes.com Seattle Housing Market Report, April 2026
The Madrona Group’s June 2026 Seattle Housing Market Update, covering May activity, shows the trend holding steady. Condo prices averaged $659,441, down 3.7% year over year, with inventory sitting at 6.0 months. For comparison, single-family homes in Seattle were down to just 3.0 months of inventory in the same report. That’s a massive gap, and it tells you everything about where the leverage is right now.
Months of inventory by property type (May 2026)
Condos are carrying double the supply of single-family homes
Source: The Madrona Group, Seattle Housing Market June 2026 Update (May data)
This isn’t the whole Seattle market falling apart. It’s condos, specifically, feeling the pressure.
| Metric | Condos | Single-family homes |
|---|---|---|
| Avg. price, May 2026 | $659,441 (-3.7% YoY) | $1,254,360 (+8.7% YoY) |
| Months of inventory | 6.0 | 3.0 |
| List-to-sale price ratio | 98.6% | 101.6% |
Source: The Madrona Group, Seattle Housing Market June 2026 Update
Why Condos Are Different From the Rest of the Market
Single-family homes in good Seattle neighborhoods are still moving quickly when they’re priced right. Condos are a different story, and a few things are driving that.
More to compare
When inventory climbs from a couple months of supply to five or six, buyers stop rushing. They tour more units and wait for the right one.
The full payment matters
Buyers add up principal, interest, taxes, insurance, and HOA dues. A lower price with high dues can cost more per month than a pricier well-run unit.
Closer scrutiny of the building
Reserve studies, HOA financials, and assessment risk are getting read closely. Buyers walk from buildings that don’t look financially healthy.
Lifestyle shifts
Remote and hybrid work shifted what people want: outdoor space, a home office, a garage. That’s pulled some buyers toward houses and townhomes.
None of this means condos won’t sell. It means your condo is competing harder for attention than it would have in 2021 or 2022.
What buyers are actually adding up
What buyers are scrutinizing on the building, not just the unit
- Reserve study and HOA financial health
- Rental caps and pet policies
- Pending or recent litigation
- Insurance status and claims history
- Upcoming repairs and special assessment risk
What This Means If You’re Selling This Year
This is the part you came here for. If you’re listing a Seattle condo in 2026, here’s how to set yourself up to actually sell it, not just list it.
Price to today’s competition, not last year’s market
Look at what’s currently active and pending in your building and neighborhood, not what units sold for two years ago. Outdated comps mean you sit on the market while buyers pass you over for something priced correctly.
Get ahead of the HOA questions
Have your HOA financials, reserve study, and any pending special assessments ready before you list. Buyers and their agents are asking for this upfront now. Fewer surprises in escrow means a smoother sale.
Make the unit easy to picture and easy to show
Address obvious condition issues. Clear the clutter. Use professional photography and a floor plan. When buyers have options, first impressions decide whether they keep scrolling or book a showing.
Consider concessions over straight price cuts
A seller credit toward closing costs or a rate buydown can sometimes do more for a buyer’s monthly payment than dropping your price outright, and it can be a stronger negotiating tool.
Expect more questions and more time
Buyers are doing their homework. That’s not a red flag on your unit, it’s just the market right now. Build that into your expectations for timeline and showings.
In this market, sellers can still succeed. But they need to launch with the right strategy from day one.
Should You Sell Now or Wait?
That depends on your building, your equity, and your timeline more than it depends on the citywide average.
Selling now may make sense if…
- Your HOA is financially stable with healthy reserves
- Your unit is in a desirable, well-managed building
- You’re ready to price to current conditions, not 2022 comps
- You need the equity for your next move
Waiting may be worth considering if…
- Your building has unresolved reserve or assessment issues
- You’re not under any real time pressure
- Inventory in your building is unusually high right now
- You’d rather address building-level concerns before listing
The honest answer is, it depends on your specific situation. That’s not me dodging the question. It’s why a market update can only take you so far, and why a conversation about your specific building and unit matters more than the headline numbers.
Bottom line: well-prepared listings in financially healthy buildings are still finding buyers in this market. The risk isn’t the market. It’s launching without the right pricing and HOA homework done upfront.
Frequently Asked Questions
Are Seattle condo prices expected to keep dropping?
No one can say for certain, but elevated inventory and high HOA costs are likely to keep pressure on condo prices in the near term. Watch the months of supply number. If it starts shrinking back toward 4 months or less, that’s typically a sign the market is tightening back toward sellers.
How long does it take to sell a condo in Seattle right now?
It varies by building and price point, but expect more time on market than you would have seen in 2021 or 2022. Well-priced, well-presented units in financially healthy buildings are still moving. Overpriced units or buildings with HOA red flags are sitting longer.
Does a lower price mean buyers are getting a better deal?
Not always. A lower purchase price doesn’t help much if the HOA dues are high or the building has upcoming assessments. Smart buyers, and smart sellers, are looking at the full monthly cost and the building’s financial health, not just the sticker price.
Ready to talk through your condo?
Headline numbers can only tell you so much.
Your building, your HOA, your equity position, and your timeline are what actually determine your best move. Download my free guide or skip straight to a conversation.
Emily Cressey
Real Estate Broker, HomePro Associates at Keller Williams Greater Seattle
Serving King and Snohomish Counties