Courtesy of Jakub Żerdzicki via Unsplash
Listings for single-family homes and condominiums climbed sharply in March from a year ago while sales remained largely unchanged throughout the 27-county region represented by Kirkland-based Northwest Multiple Listing Service, according to a NWMLS report released Thursday.
Jefferson County posted the third-highest percentage increase in total active listings among the 27 counties, up 53.9% from March 2025. Closed sales fell 17.1%.
Pierce County’s total active listings last month rose 26.8% from last year and closed sales rose 1.9%. In Thurston County, inventory jumped 30.3% and sales also increased, by 18.7%.
For all NWMLS counties, active listings rose 29.3% year over year and closed sales rose just 0.2%, but activity picked up significantly from February with a nearly 31% month-over-month increase, the report said. The median sales price for homes and condos combined was $640,000, down 1.5% year over year but up 3.2% from February.
Pierce and Thurston counties saw their combined home-condo median sales prices remain essentially flat, with Pierce’s median at $557,000, up 0.4%. Thurston’s median was $535,000, equal to a year ago.
“Washington continues to mirror national trends by adding listings at a rate that is far outpacing any growth in sales,” Steven Bourassa, director of the Washington Center for Real Estate Research, said in the NWMLS report. “Active listings in the NWMLS service area in March 2026 increased 29% year over year, while the number of sales remained unchanged. In a nutshell, sellers have decided that they need to get on with their lives in spite of the fact that many would be giving up low-interest-rate mortgages. However, potential purchasers cannot afford to buy.”
Bourassa added that rising global uncertainty — including war in Iran — has pushed mortgage rates back up to 6.38% by the end of March after briefly dipping below 6% in February. The last time rates were this high was in early September 2025.
Looking at single-family homes only, Pierce County posted a median sales price last month of $570,000, up 0.9%. For condos, the median was $393,450, down 5.2%.
In Thurston County, single-family homes sold for a median price of $540,300, down 1.8%. Condos sold for a median price of $279,975, down 23.3%.
Other South Sound area counites’ median single-family home prices in March were: Kitsap County, $580,000, up 3.6%; Mason County, $370,000, down 9.8%; Grays Harbor County, $329,000, down 1.8%; Lewis County, $410,000, down 1.8%; and Jefferson County, $562,450, down 13.8%.
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