Market Intelligence · WA / Seattle

Seattle, WA 98116 Housing Market

The typical home value in Seattle, WA 98116 is $973,130, down 0.2% over the past year as of September 2026. The median list price is $963,750, and homes are spending a median of 53 days on market.

Updated September 2026Median value$973K

The median home value in Seattle, WA 98116 is $973K as of September 2026, down 0.2% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 98116 range

$895K to $1.05M

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-0.2% over 12 months

Sep 2025$975K

Low $971KHigh $992K

Sep 2026$973K

The numbers

What is the 98116 housing market like?

As of September 2026

Typical home value

$973K

0.2%YoY

Median list price

$964K

2.9%MoM

Days on market

43.2%MoM

Homes for sale

2.5%MoM

Price cuts

18.4%

21.8%MoM

New listings

37.5%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

98116 housing market forecast 2027

-0.6%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 98116 to fall 0.6% by September 2027.

Over the 12 months through September 2026, typical home values in 98116 fell 0.2%, per the Zillow Home Value Index.

Will home prices drop in 98116?

Zillow's forecast says they may: it expects typical home values in 98116 to fall 0.6% by September 2027, after a 0.2% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 98116 home prices compare?

98116$973,130
Seattle$747,178
Washington$496,668
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Seattle: 33 ZIPs; Washington: 485 ZIPs; United States: 26,262 ZIPs).

Context

As of September 2026, there are 81 homes for sale in 98116, with 44 new listings coming on the market. The median list price sits at $963,750, while the typical home value is $973,130, down 0.2% over the past year. Homes are taking a median of 53 days to sell, and 18.4% of listings have had a price cut. That share of price reductions suggests some sellers are starting too high and adjusting. For a seller, the market is soft enough that pricing carefully from the start matters more than testing the top of the range.

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Down payment20% · $194,626

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Common questions

What people ask us.

How much is a home in 98116 worth?

The typical home value in 98116 is $973,130 as of September 2026, down 0.2% over the past year.

How long does it take to sell a home in 98116?

Homes in 98116 are spending a median of 53 days on market as of September 2026. There were 81 homes for sale and 44 new listings that month.

Are sellers in 98116 cutting prices?

As of September 2026, 18.4% of listings in 98116 had a price cut. The median list price is $963,750.

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Nearby ZIP markets.

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