Q1-2026-OR-WA-Puget-Sound

Q1

2 0 2 6

PUGET SOUND

•

S W WA S H I N G TO N • O R E G O N

Q1

PA C I F I C N W

MARKET REPORT

2026

ABOUT THIS REPORT The Berkshire Hathaway HomeServices Quarterly Market Report features the latest MLS data and local market statistics. Through year-over-year comparisons of key performance indicators and market summaries, this report delivers a comprehensive overview of residential real estate activity for the regions we service across the Pacific Northwest, including: • Greater Seattle Metro Area (King, Pierce, Snohomish, & Thurston) • Southwest Washington (Vancouver Metro Area) • Greater Portland Metro Area • Mid-Willamette Valley (Marion, Polk, Linn, & Benton) • Eugene, Coastal, and Southern Oregon (Lane, Tillamook, & Douglas) • Central Oregon

Learn about trends affecting sales activity and price, read decisive takeaways for each market, and empower yourself with Northwest Knowledge.

ABOUT US Since 1942, we’ve been helping people buy and sell homes throughout Oregon and Washington. Today, with 30 offices and a regional network of nearly 1,000 real estate professionals, Berkshire Hathaway HomeServices continues to lead the Northwest in delivering exceptional service, trusted local expertise, and data-driven market intelligence like the insights featured throughout this report.

Through OnePoint, we provide a more complete real estate experience by bringing together brokerage, mortgage, insurance, and title services in one connected process. This integrated approach helps simplify each step of the transaction, giving buyers and sellers greater clarity, convenience, and confidence from start to finish.

For more information or assistance navigating today’s real estate market, contact your local Berkshire Hathaway HomeServices broker.

We are All statistics are based upon MLS data for the period of January 1, 2026 – March 31, 2026.

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

PA C I F I C N W

Q1

MARKET REPORT

2026

LET TER FROM THE EDITOR As you read through this Q1 2026 Quarterly Market Report, a clear theme emerges: balance. Across many of the Pacific Northwest markets featured in this report, the first quarter was not defined by dramatic swings or rapid acceleration, but by measured shifts in pricing, inventory, buyer activity, and sales pace.

Compared with the first quarter of last year, most regions experienced modest year-over-year changes. Average sales prices moved slightly up or down depending on the market, closed sales reflected continued buyer selectivity, and days on market generally pointed to a more thoughtful pace of activity. At the same time, increased listing activity in several areas gave buyers more options, while well-positioned homes continued to attract attention.

This is the type of market where broad headlines rarely tell the whole story. Conditions can vary significantly by neighborhood, price point, property type, and timing. In some communities, limited inventory is still supporting pricing. In others, expanding supply and longer marketing times are creating more room for negotiation.

That is why working with a knowledgeable Berkshire Hathaway HomeServices real estate broker is so important. A skilled local professional can help interpret the data, understand the trends behind the numbers, and guide you through decisions with clarity and confidence whether you are preparing to sell, searching for your next home, or evaluating real estate as part of your long-term financial goals.

Melanie Weidenbach, President & CEO

L E T T E R F R O M T H E E D I TO R

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

Greater Seattle Metro Area (King, Pierce, Snohomish, & Thurston) • • • •

New Listings: Up 8% year-over-year Closed Sales: Down 5% to 10,195 Days on Market: Up 19% to 50 days Average Sales Price: Down 2% to $860,183

The Greater Seattle Metro Area market entered Q1 2026 with a noticeable increase in listing activity and expanding inventory compared to the same period last year. While pricing and sales activity adjusted modestly year-overyear, demand remained steady across much of the region. With more options available and buyers taking a more thoughtful approach, market conditions continue to move toward a healthier, more balanced environment.

DAYS ON MARKET Days on market increased 19% year-over-year, rising to an average of 50 days this quarter. In Redmond/Carnation, average days on market jumped 109% from year-ago figures, ending Q1 2026 at 46 days. At 33 days, Mercer Island posted the lowest average market time for the region, an 11% drop from this time last year.

CLOSED TRANSACTIONS Closed transactions (10,195) missed the mark by 5% compared with Q1 2025.

In Kent, closed units (194) fell 27% while in Lacey/DuPont and Puyallup, closed units were up 9% year-over-year, ending the quarter at 194 and 428, respectively.

PENDING SALES, NEW LISTINGS, & ACTIVE LISTINGS Pending sales (12,347) were down a slight 2% from year-ago figures; new listings (17,718) increased 8%; and active listings increased by 15% to end Q1 2026 at 26,369.

AVERAGE SALES PRICE Dipping 2%, average sales price in the Greater Seattle Metro Area ended the quarter at $860,183 compared with $880,381 this time last year. Average sales price in Everett ($580,253) and Mercer Island ($2,501,699) showed the greatest declines at 12%, and conversely, average sales price in Olympia ($635,442) was up 12% from year-ago figures. Redmond/Carnation and Central Seattle showed gains of 7% and 8%, respectively.

Q1

PA C I F I C N W

MARKET REPORT

2026

GREATER SEATTLE METRO AREA 2025

AVERAGE SOLD PRICE KING COUNT Y PIERCE COUNT Y

45 51 58

$795,881

40

$775,000

47

$542,737

53

$561,784

66 $868,683

38

$841,707

40

$1,043,702

CENTRAL SEAT TLE

40

$1,131,090

NORTH SEAT TLE

KENT

38

$606,364

WEST SEAT TLE

BURIEN/ NORMANDY PARK

$1,077,520 $1,061,722

$591,715

SNOHOMISH COUNT Y THURSTON COUNT Y

53

$1,101,386

32

$1,172,198

39

$727,957

42

$758,828

42

$646,015

42

$662,908

60 $1,787,865

BELLEVUE FEDERAL WAY/ DASH POINT

PUYALLUP

36

$576,329

52

$591,795

51 $989,059

47

$891,377

60

$553,467

44

$528,912

49

$558,053

58

$555,161

69

LYNNWOOD/ EDMONDS EVERET T

$887,278

34

$872,376

34

$661,723

35

$580,253

44 $2,849,169

MERCER ISL AND

22

$1,404,037

46

$1,615,030

JUANITA/ WOODINVILLE

$0K

33

$1,309,487

KIRKL AND/ BRIDLE TRAILS

L ACEY/ DUPONT

37

$2,501,699

REDMOND/ CARNATION

OLYMPIA

22

$1,734,534

GIG HARBOR/KEY PENINSUL A TACOMA/ UNIVERSIT Y PL ACE

AVERAGE DAYS ON MARKET

2026

30

$1,518,604

42

$1,481,241

33

$1,534,689

57

$569,721

47

$635,442

69

$522,101

39

$517,737

53

$375K

GR E ATER SE AT TLE ME TRO AR E A

$750K

$1.1M

$1.5M

$1.8M

$2.2M

$2.6M

$3M

$3.3M

B ER K SHIR E HATHAWAY HOMESERVICES

Q1

PA C I F I C N W

MARKET REPORT

2026

GREATER SEATTLE METRO AREA 2025

2026

NUMBER OF CLOSED UNITS

11,000 10,000

900

9,000

800

8,000

700

7,000

600

6,000

500 5,503

5,000

400

5,112

300

4,000

373 322

289

200

3,000 2,420

2,000

2,334

2,150

255

307

305

304 222

308

267 208

199

194

191

100

188

173

1,991

GIG HARBOR/ KEY PENINSUL A

FEDERAL WAY/ DASH POINT

BELLEVUE

KENT

BURIEN/ NORMANDY PARK

NORTH SEAT TLE

WEST SEAT TLE

766

THURSTON COUNT Y

SNOHOMISH COUNT Y

PIERCE COUNT Y

KING COUNT Y

711

CENTRAL SEAT TLE

1,000

1,750

700

1,500

600

1,250

500

1,000

400 365

300

185 115

113

392

250

428

425

367

418

327

344 357

36

G R E AT E R S E AT T L E M E T R O A R E A

OLYMPIA

EVERET T

LYNNWOOD/ EDMONDS

PUYALLUP

TACOMA/ UNIVERSIT Y PL ACE

JUANITA/ WOODINVILLE

KIRKL AND/ BRIDLE TRAILS

178

REDMOND/ CARNATION

MERCER ISL AND

35

755

500

236

100

809

194

L ACEY/ DUPONT

200

750

308

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

Southwest Washington (Vancouver Metro Area) • • • •

New listings: Up 14% to 2,156 Closed Sales: Up 3% to 1,397 Days on Market: Up 17% to 75 days Average Sales Price: Up 6% to $640,078

Southwest Washington entered 2026 with strong year-over-year gains in both sales activity and pricing, supported by increased inventory and continued buyer demand. While homes are taking slightly longer to sell compared to Q1 2025, the region remains wellpositioned, offering a balance of value and opportunity as the spring market begins.

DAYS ON MARKET Average days on market in Southwest Washington increased 17%, across the region. Washougal was the exception, with a 19% drop from 98 days in Q1 2025 down to 79.

AVERAGE SALES PRICE Overall, average sales price rose 6% from year-ago figures. La Center ($707,400) increased 10%, and Battle Ground ($668,394), Longview/Kelso ($419,780), and Ridgefield ($770,110) all showed 7% increases.

CLOSED TRANSACTIONS Closed transactions grew 3% year-over-year to end Q1 2026 at 1,397.

Closed transactions in Camas (133) shot up 45% from year-ago figures and increased 11% in Woodland to end the quarter at 41.

NEW LISTINGS, ACTIVE LISTINGS, & PENDING SALES New listings in the Vancouver Metro Area (2,156) were 14% higher than this time period last year. Active listings were also up, increasing 15% to 3,725 from 3,243 in Q1 2025. Pending sales followed this upward trajectory as well, rising 13% from year-ago figures to end Q1 2026 at 1,737.

Q1

PA C I F I C N W

MARKET REPORT

2026

SW WASHINGTON METRO AREA 2025

2026

AVERAGE DAYS ON MARKET

AVERAGE SOLD PRICE $531,039

VANCOUVER

54

$556,678

66 $717,144

WASHOUGAL

98

$737,084

79

$627,395

BAT TLE GROUND

79

$668,394

85

$606,995

WOODL AND

67

$629,574

96

$641,336

L A CENTER

96 $707,400

96

$722,623

RIDGEFIELD

83

$7 70,110

97 $906,103

CAMAS LONGVIEW/ KELSO

61

$886,708

91

$391,582

68

$419,780

$300K

$400K

80

$500K

$600K

$700K

$800K

$900K

$1M

325

NUMBER OF CLOSED UNITS

2000

300

1800

250

1600

225

1000

175 150

855

125 122

600

100

400

75

200

50

129

125

136

65 41

WOODL AND

BAT TLE GROUND

WASHOUGAL

VANCOUVER

133

92

81

37

S W WA S H I N G TO N M E T R O A R E A

138

50 37

CAMAS

859

156

RIDGEFIELD

800

200

LA CENTER

1200

1,263 1,252

LONGVIEW/ KELSO

1400

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

Greater Portland Metro Area • • • •

New Listings: Up 1% to 7,133 Closed Sales: Down 1% to 4,539 Days on Market: Up 10% to 75 days Average Sales Price: Down 1% to $595,837

For the Greater Portland Metro Area, the first quarter brought stable yearover-year performance, as modest inventory growth and steady pricing created balanced conditions. While sales activity remained largely unchanged compared to Q1 2025, buyers are taking a more measured approach, contributing to longer marketing times and a more normalized market pace.

DAYS ON MARKET The days on market average in the Greater Portland Metro Area was 75 this quarter, rising 10% from year-ago figures. Northeast Portland posted the lowest average time on market (52 days), a 4% increase from this time last year, and West Linn (93 days) posted a 69% gain year-over-year.

NEW LISTINGS, ACTIVE LISTINGS, & PENDING SALES New listings (7,133) edged up by 1% year-over-year; active listings were 5% higher this quarter than they were during Q1 2025; and pending sales increased 6% to end the quarter at 5,630.

AVERAGE SALES PRICE At $595,837, average sales price missed the mark by a slight 1% year-over-year.

Average sales price was down in several cities, including Lake Oswego, where the average of $1,099,531 was a 12% decline from year-ago figures. Notably, Lake Oswego still posted the highest average sales price for the region. Both McMinnville and Sandy recorded an average sales price that was 9% higher than this time last year, ending Q1 2026 at $512,162 and $594,880, respectively.

CLOSED TRANSACTIONS Closed transactions (4,539) dipped just 1% from year-ago figures. West Linn and Gresham/Troutdale saw increased market activity compared with this time period last year. In West Linn, closed units (88) were up 42% and in Gresham/ Troutdale closed units (226) climbed 25% from year-ago figures.

Q1

PA C I F I C N W

MARKET REPORT

2026

GREATER PORTLAND METRO AREA 2025

2026

AVERAGE DAYS ON MARKET

AVERAGE SOLD PRICE PORTL AND - W PORTL AND - N

84

$748,168

92

$490,263

77

$502,085

77

$541,761

PORTL AND - NE PORTL AND - SE

$740,843

50

$564,113

52

$516,301

55

$492,248

56 $710,586

NW WASHINGTON COUNT Y

62

$693,476

81 $1,254,761

L AKE OSWEGO

77

$468,919

62

$544,854

82

$584,902

58

$566,322

72

$608,582

CANBY

70

$634,338

61

$610,311

64

$603,612

70

$550,502

BEAVERTON/ ALOHA

66

$552,074

67 $669,212

TIGARD/ TUAL ATIN

86

$634,889

97

$668,955

WILSONVILLE

71

$677,685

HILLSBORO/ FOREST GROVE

74

$559,146

72

$538,082

84 $719,098

SHERWOOD

65

$675,760

88

$468,072

64

$512,162

93

$498,986

100

$515,038

104

$579,231

NEWBERG

$250K

87

$594,880

OREGON CIT Y

COLUMBIA COUNT Y

93

$488,381

MILWAUKIE/ CLACKAMAS/ HAPPY VALLEY

YAMHILL/ CARLTON

55

$939,385

SANDY

MCMINNVILLE

84

$1,041,902

WEST LINN GRESHAM/ TROUTDALE

69

$1,099,531

77

$610,976

96

$446,253

82

$470,223

$375K

G R E AT E R P O R T L A N D M E T R O A R E A

77

$500K

$625K

$750K

$875K

$1M

$1.25 M

$1.5 M

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

Q1

PA C I F I C N W

MARKET REPORT

2026

GREATER PORTLAND METRO AREA 0

1200

1100

2025

2026

NUMBER OF CLOSED UNITS

1000 900 800 700 600 547

230

271

243 198

226 195

100

133

181

144

110

88

110

59

57

WEST LINN

L AKE OSWEGO

NW WASHINGTON COUNT Y

PORTL AND - SE

PORTL AND - NE

PORTL AND - N

62

PORTL AND - W

304

CANBY

200

382 390

OREGON CIT Y

300

429

MILWAUKIE/ CLACKAMAS/ HAPPY VALLEY

387

503

GRESHAM/ TROUTDALE

400

435 432

BEAVERTON/ ALOHA

500

700 600 500 400 342

300

370

200

G R E AT E R P O R T L A N D M E T R O A R E A

86

65

24

24

83

81

NEWBERG

110

61

YAMHILL/ CARLTON

65

COLUMBIA COUNT Y

75

71

MCMINNVILLE

122 67

SANDY

87

SHERWOOD

TIGARD/ TUAL ATIN

77

HILLSBORO/ FOREST GROVE

111

WILSONVILLE

100

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

Mid-Willamette Valley (Marion, Polk, Linn, & Benton) • • • •

New Listings: Down 3% to 1,347 Closed Sales: Down 3% year-over-year Days on Market: Up 32% to 86 days Average Sales Price: Up 2% to $456,0398

Like many other Pacific Northwest regions surveyed for this report, the Q1 Mid-Willamette Valley market was balanced, presenting distinct advantages for buyers and sellers. While closed sales activity softened slightly compared to the same period last year, increased inventory and longer marketing times reflect a market continuing to stabilize while offering strong value and opportunity.

DAYS ON MARKET Throughout the region, average days on market increased 32% to 86 days yearover-year. Monmouth’s average market time increased 91% to 124 days and at 62 days, Stayton had the lowest average for the region, which represented a 3% rise from year-ago figures.

AVERAGE SALES PRICE In the Mid-Willamette Valley, average sales price increased 2% year-over-year, rising from $446,943 in Q1 2025 to $456,039 this quarter. Stayton’s average sales price ($574,314) jumped 20%. In Independence, average sales price was also higher than last year, up 15% to end the quarter at $400,371.

PENDING SALES, NEW LISTINGS, & ACTIVE LISTINGS Pending sales (1,078) edged up 6%; new listings (1,347) missed the mark by 3%; and at a total of 2,662, active listings were 6% higher than this time last year.

CLOSED TRANSACTIONS Closed transactions in Marion, Polk, Linn, and Benton Counties were 3% lower than the first quarter of 2025, ending Q1 2026 at 835. Closed units in Independence (24) soared 60%, and closed sales were up 39% in Stayton, ending this quarter at 25.

Q1

PA C I F I C N W

MARKET REPORT

2026

MID-WILLAMETTE VALLEY 2025

2026

AVERAGE DAYS ON MARKET

AVERAGE SOLD PRICE SALEM/ KEIZER

$437,096

62

$439,285

78

$479,228

STAY TON

60 $574,314

62

$451,687

DALL AS

69

$479,481

113

$500,442

MONMOUTH

65

$481,158

124

$347,313

INDEPENDENCE

61

$400,371

PHILOMATH

110

$426,938

91

$420,193

88

$469,870

ALBANY

67

$449,944

77 $547,474

CORVALLIS

57 $612,835

$393,623

LEBANON

77

$421,316

SWEET HOME

$0K

M I D -W I L L A M E T T E VA L L E Y

$100K

$200K

86

106

$368,369

68

$376,155

88

$300K

$400K

$500K

$600K

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

Q1

PA C I F I C N W

MARKET REPORT

2026

MID-WILLAMETTE VALLEY 2025

2026

NUMBER OF CLOSED UNITS

1200 1000 800 600 320

400

300

200

567

SALEM/ KEIZER

280

550

260 240 220 200 180 160

168 157

140 120 100 97

80 74

60

67

86

83 66 47

40

M I D -W I L L A M E T T E VA L L E Y

SWEET HOME

20

LEBANON

16

CORVALLIS

15

INDEPENDENCE

MONMOUTH

12

ALBANY

24 12

PHILOMATH

25

STAY TON

18

DALL AS

20

47

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

Eugene, Coastal, & Southern Oregon (Lane, Tillamook, & Douglas) • • • •

New Listings: Down 4% to 1,618 Closed Sales: Down 6% to 1,081 Days on Market: Up 7% to 73 days Average Sales Price: Flat at $456,039

The Eugene, Coastal, and Southern Oregon markets entered 2026 with stable pricing compared to Q1 2025, and continued variations between inland and coastal communities. While sales activity declined modestly year-over-year and homes took slightly longer to sell, demand remained steady in core markets, supporting a balanced start to the year.

CLOSED UNITS Regionally, closed units were down 6% to 1,081 this quarter compared with 1,148 during the first quarter of 2025. In Tillamook County, closed units (6) jumped 200%.

On the coast, Netarts posted a 33% decrease, and Oceanside recorded a 33% increase, each with market closing 4 transactions, while Florence declined 20% to 70 units. Inland, closed units increased 3% in Roseburg to 132, while Eugene (411) dipped 7% from Q1 2025.

NEW LISTINGS, ACTIVE LISTINGS, & PENDING SALES New listings decreased 4% from year-ago figures to end Q1 2026 at 1,618. Active listings (3,115) were 3% higher and pending sales (1,375) edged up year-over-year by 2%.

AVERAGE SALES PRICE In Eugene, Coastal and Southern Oregon, average sales price ($438,103) was unchanged from year-ago figures. In the cities, average sales price fluctuated, rising 50.5% year-over-year in Netarts ($817,250) and falling 61% in Garibaldi ($153,500).

Eugene remained flat at $499,308.

DAYS ON MARKET Average days on market throughout the region increased 7% to end Q1 2026 at 73 days. At 32 days, Garibaldi posted the lowest days-on-market average, which was 69.5% lower than this time last year.

Q1

PA C I F I C N W

MARKET REPORT

2026

EUGENE, COASTAL, & SOUTHERN OREGON 2025

2026

AVERAGE DAYS ON MARKET

AVERAGE SOLD PRICE EUGENE ROSEBURG GARIBALDI

$496,935

60

$499,308

66

$374,720

87

$363,270

91

$394,000

105

$153,500

32 $481,410

TILLAMOOK

122 $543,089

NETARTS

167 $817,250

171

$862,500

OCEANSIDE

94

$684,750

179

$433,288

FLORENCE

$0K

149

$394,006

78

$457,008

$150K

$300K

E U G E N E , C O A S TA L , & S O U T H E R N O R E G O N

$450K

96

$600K

$750K

$800K

$950K

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

Q1

PA C I F I C N W

MARKET REPORT

2026

EUGENE, COASTAL, & SOUTHERN OREGON 850

2025

800 750 700

2026

NUMBER OF CLOSED UNITS 130

650

120

600

110

550

100

500

90

450 400

88

80

443 411

70

350

70

60

300

50

250

40

200

30

150 128

100

132

20 10 FLORENCE

ROSEBURG

EUGENE

50

30 25 20

19

15

15

10

E U G E N E , C O A S TA L , & S O U T H E R N O R E G O N

4

NETARTS

TILLAMOOK

1

4

3

OCEANSIDE

6

5

GARIBALDI

5

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

Central Oregon • • • •

New Listings: Up 7% from Q1 2025 Closed Sales: Down 3% to 832 Days on Market: Up 18% to 92 days Average Sales Price: Down 3% to $773,484

The Central Oregon market showed increased listing activity compared with Q1 2025 and continued buyer engagement across the region. While pricing and sales activity experienced modest year-over-year adjustments, the market remains stable, with growing inventory contributing to more balanced conditions and a stable foundation as the spring selling season unfolds.

AVERAGE SALES PRICE Central Oregon’s average sales price dipped 3% year-over-year to end Q1 2026 at $773,484. Average price in Bend ($871,075) fell 7% while in Sunriver, the average price ($879,664) was up 10% from year-ago figures.

CLOSED TRANSACTIONS & PENDING SALES Closed transactions were just 3% of the mark, falling from 854 in Q1 2025 to 832 this quarter. Closed units in Sunriver (35) decreased 22% yearover-year, and in Bend, closed units (520) were 4% higher than this time last year. Pending sales across the region increased 13% to end Q1 2026 at 1,032.

NEW & ACTIVE LISTINGS New listings (1,521) increased 7% from year-ago figures and active listings throughout Central Oregon were also up, rising 4% from Q1 2025 to 2,768 this quarter.

DAYS ON MARKET Average days on market (92) was 18% higher than Q1 last year. In Sunriver, market time (105) lengthened by 44%, but in Redmond/Terrebonne the average days on market (75) decreased 11% from year-ago figures.

Q1

PA C I F I C N W

MARKET REPORT

2026

CENTRAL OREGON 2025

2026

AVERAGE DAYS ON MARKET

AVERAGE SOLD PRICE $931,832

BEND

92

$551,995

REDMOND/ TERREBONNE

84

$533,425

75 $800,679

SUNRIVER

$0K

77

$871,075

73

$879,664

$150K

$300K

$450K

$600K

$750K

$900K

105

$1.05M

450 NUMBER OF CLOSED UNITS 400 1,200

350

1,050

300

900

250

750

200

600 450

500

520

150

300

100

150

50

186

164

CENTRAL OREGON

35

SUNRIVER

REDMOND/ TERREBONNE

BEND

45

B E R K S H I R E H AT H AWAY H O M E S E R V I C E S

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