Seattle, WA 98119 Real Estate Market Report

ZIP Code: 98119
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Seattle, WA (ZIP: 98119) is characterized by a median sold price of $1,250,000, reflecting a stable market with slight appreciation trends. The neighborhood has increased 15% since 2023, indicating a positive trajectory in property values. Despite this upward movement in sold prices, the market is experiencing elevated inventory levels, suggesting a shift towards a more balanced environment favoring buyers.

The median days on market stands at 274 days, which indicates a slower sales velocity and may suggest a cautious buyer sentiment. With a median listing price of $965,000, there is a notable gap between asking prices and sold prices, which could lead to pricing friction as sellers adjust expectations. The overall market temperature is described as neutral, indicating a balance between supply and demand, while rental demand remains robust with a median market rent of $3,210.

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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.

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Market Metrics

Note: 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.

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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.

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Property Taxes

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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.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. The median sold price of $1,250,000 shows a positive trend, having increased 15% since 2023, indicating a strengthening market.

2. With 274 days on market, the sales velocity appears slower, suggesting caution among buyers.

3. The median listing price of $965,000 reflects a significant gap compared to the sold price, indicating potential pricing friction as sellers may need to adjust expectations.

4. Elevated inventory levels suggest moderate sales activity, contributing to a more balanced market environment.

5. The median market rent of $3,210 indicates strong rental demand, which may support overall market stability.

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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.