Somerset WA Housing Market
Somerset, WA March 2026 Housing Market
Video edited on Kapwing
February 2026 was a Neutral market! The number of for sale listings was up 100% from one year earlier and up 50% from the previous month. The number of sold listings decreased 33.3% year over year and the same month over month. The number of under contract listings was up 200% compared to previous month and up 50% compared to previous year. The Months of Inventory based on Closed Sales was 3, up 200% from the previous year.
The Average Sold Price per Square Footage was down 20.4% compared to previous month and down 3.1% compared to last year. The Median Sold Price increased by 15% from last month. The Average Sold Price also increased by 15% from last month. Based on the 6 month trend, the Average Sold Price trend was "Appreciating" and the Median Sold Price trend was "Appreciating".
The Average Days on Market showed a neutral trend, an increase of 50% compared to previous year. The ratio of Sold Price vs. Original List Price was 113%, an increase of 10.8% compared to previous year.
It was a Neutral Market
Property Sales (Sold)
February property sales were 2, down 33.3% from 3 in February 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 3 units of 100%. 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 50% compared to the previous month.
Property Under Contract (Pended)
There was an increase of 200% in the pended properties in February, with 3 properties versus 1 last month. This month's pended property sales were 50% higher than at this time last year.
All reports are published March 2026, based on data available at the end of February 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 February 2026 Average Sold Price per Square Footage of $689 was down 20.4% from $866 last month and down 3.1% from $711 in February of last year.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
The Days on Market Showed Neutral 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 February 2026 was 6, down 86.7% from 45 days last month and up 50% from 4 days in February 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 113% was up 16.5% % from last month and up from 10.8% % in February of last year.
* Based on 6 month trend - Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
All reports are published March 2026, based on data available at the end of February 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 Neutral*
The Average For Sale Price in February was $2,709,000, down 23.9% from $3,560,000 in February of 2025 and down 1.2% from $2,743,000 last month.
The Average Sold Price was Appreciating*
The Average Sold Price in February was $2,370,000, up 14.3% from $2,073,000 in February of 2025 and up 15% from $2,060,000 last month.
The Median Sold Price was Appreciating*
The Median Sold Price in February was $2,370,000, up 20.9% from $1,960,000 in February of 2025 and up 15% from $2,060,000 last month.
* Based on 6 month trend - Appreciating/Depreciating/Neutral
It was a Neutral 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 February 2026 Months of Inventory based on Closed Sales of 3 was increased by 200% compared to last year and up 50% compared to last month. February 2026 was Neutral market.
Months of Inventory based on Pended Sales
The February 2026 Months of Inventory based on Pended Sales of 2 was increased by 33.3% compared to last year and down 50% compared to last month. February 2026 was Seller's market.
All reports are published March 2026, based on data available at the end of February 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 February 2026 Absorption Rate based on Closed Sales of 33.3 was decreased by 66.7% compared to last year and down 33.4% compared to last month.
Absorption Rate based on Pended Sales
The February 2026 Absorption Rate based on Pended Sales of 50 was decreased by 25% compared to last year and up 100% compared to last month.
All reports are published March 2026, based on data available at the end of February 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.
