Somerset WA Housing Market
Somerset, WA May 2026 Housing Market
Video edited on Kapwing
May 2026 was a Seller's market! The number of for sale listings was up 45.5% from one year earlier and up 33.3% from the previous month. The number of sold listings was the same year over year and the same month over month. The number of under contract listings was down 12.5% compared to previous month and down 30% compared to previous year. The Months of Inventory based on Closed Sales was 1.8, up 49.1% from the previous year.
The Average Sold Price per Square Footage was down 2.9% compared to previous month and up 6.1% compared to last year. The Median Sold Price increased by 21.6% from last month. The Average Sold Price also increased by 7.9% from last month. Based on the 6 month trend, the Average Sold Price trend was "Neutral" and the Median Sold Price trend was "Neutral".
The Average Days on Market showed a downward trend, a decrease of 66.7% compared to previous year. The ratio of Sold Price vs. Original List Price was 105%, an increase of 2.9% compared to previous year.
It was a Seller's Market
Property Sales (Sold)
May property sales were 9, the same as in May of 2025 and the same as sales last month.
Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 5 units of 45.5%. This year's bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was up 33.3% compared to the previous month.
Property Under Contract (Pended)
There was a decrease of 12.5% in the pended properties in May, with 7 properties versus 8 last month. This month's pended property sales were 30% lower than at this time last year.
All reports are published June 2026, based on data available at the end of May 2026, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS
The Average Sold Price per Square Footage was Neutral*
The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the 'mix' of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The May 2026 Average Sold Price per Square Footage of $727 was down 2.9% from $749 last month and up 6.1% from $685 in May of last year.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
The Days on Market Showed Downward Trend*
The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for May 2026 was 3, down 62.5% from 8 days last month and down 66.7% from 9 days in May of last year.
The Sold/Original List Price Ratio was Rising**
The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 105% was up 1.9% % from last month and up from 2.9% % in May of last year.
* Based on 6 month trend - Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
All reports are published June 2026, based on data available at the end of May 2026, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
The Average For Sale Price was Depreciating*
The Average For Sale Price in May was $2,214,000, down 6.7% from $2,374,000 in May of 2025 and down 4.9% from $2,327,000 last month.
The Average Sold Price was Neutral*
The Average Sold Price in May was $2,211,000, up 3.8% from $2,131,000 in May of 2025 and up 7.9% from $2,050,000 last month.
The Median Sold Price was Neutral*
The Median Sold Price in May was $2,250,000, up 7.9% from $2,085,000 in May of 2025 and up 21.6% from $1,850,000 last month.
* Based on 6 month trend - Appreciating/Depreciating/Neutral
It was a Seller's Market*
A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.
*Buyer’s Market: More than 6 months of inventory
Seller’s Market: Less than 3 months of inventory
Neutral Market: 3 – 6 months of inventory
Months of Inventory based on Closed Sales
The May 2026 Months of Inventory based on Closed Sales of 1.8 was increased by 49.1% compared to last year and up 37.5% compared to last month. May 2026 was Seller's market.
Months of Inventory based on Pended Sales
The May 2026 Months of Inventory based on Pended Sales of 2.3 was increased by 109.1% compared to last year and up 53.3% compared to last month. May 2026 was Seller's market.
All reports are published June 2026, based on data available at the end of May 2026, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
It was a Seller's Market*
Absorption Rate measures the inverse of Months of Inventory and represents how much of the current active listings (as a percentage) are being absorbed each month.
*Buyer’s market: 16.67% and below
Seller’s market: 33.33% and above
Neutral market: 16.67% - 33.33%
Absorption Rate based on Closed Sales
The May 2026 Absorption Rate based on Closed Sales of 56.3 was decreased by 31.2% compared to last year and down 24.9% compared to last month.
Absorption Rate based on Pended Sales
The May 2026 Absorption Rate based on Pended Sales of 43.8 was decreased by 51.8% compared to last year and down 34.3% compared to last month.
All reports are published May 2026, based on data available at the end of April 2026, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
