Seattle, WA 98119 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. Median sold price: $1,194,500 is the primary indicator of recent market value in 98119; despite a higher asking backdrop, this represents completed transaction-level pricing and should be treated as the most reliable signal for valuation and underwriting.
2. Median days on market: 260 suggests slower sales velocity and extended negotiation windows; this pace, combined with a large gap between median listing price: $1,911,500 and median sold price: $1,194,500, may indicate pricing friction where seller expectations exceed realized transaction prices. down pressure on pricing and rents supports a cautious approach to aggressive list pricing.
3. Market temperature: neutral combined with elevated interest rate pressure (current 30-year rates ~6.69% vs ~5.99% earlier in 2026) implies balanced market dynamics but constrained affordability; lenders and buyers should factor higher borrowing costs into deal structuring and contingency planning.
4. Median price per square foot: $698 and median market rent: $1,875 provide contextual unit economics for SFR and condo underwriting; with rent year-over-year trend: down and price year-over-year trend: down, investors should expect muted near-term upside and prioritize properties with proven cashflow or value-add pathways.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.