Published October 22, 2026 in Market Update

Primary market has less supply, even with more sales

By Tiffany Vasquez

Real estate, Primary market

The biggest shift right now is supply. The Real Estate Data Aggregator counted 240 homes for sale in ZIP 97703 for the three months ending August 31, 2026. That is down 22.8% from the same period a year ago. Fewer listings means a well-priced home has less competition. For buyers, it means the search takes more planning.

Nationally, the National Association of Realtors counted 1.60 million homes for sale in September 2026. Our local number is moving in the same direction, but the drop here is steeper than what most of the country is seeing.

More homes sold, even with less to choose from

The Real Estate Data Aggregator counted 215 homes sold in 97703 for the three months ending August 31, 2026. That is up 8% from the same months in 2025. Sales went up while supply went down. That combination is worth watching.

New listings also fell. The Real Estate Data Aggregator recorded 209 new listings in 97703 for those three months, down 21.7% from a year earlier. Fewer sellers came to market, and the ones who did found buyers waiting.

Prices moved up, and so did the share selling above list

The Real Estate Data Aggregator put the median sale price in 97703 at $1,200,000 for the three months ending August 31, 2026. That is up 14.3% from the same period in 2025. Not every home hit that number, but the middle of the market moved up clearly.

The share of homes that sold above list price rose too. The Real Estate Data Aggregator counted 13.5% of homes selling above list, up 7 points from a year ago. That is still a minority of sales. Most homes did not go over asking. But the trend moved upward.

Homes took a little longer to sell

The Real Estate Data Aggregator put the median days on market at 37 days in 97703 for the three months ending August 31, 2026. That is 2 days longer than the same period a year ago. It is a small change, not a big slowdown. Nationally, Realtor.com reported a median of 62 days on market for homes sold as of October 22, 2026. The local pace is still faster than that national figure.

About 23.6% of homes in 97703 went under contract within two weeks of listing, according to the Real Estate Data Aggregator. That share is down 2.9 points from a year ago. So slightly fewer homes are snapping up in the first two weeks. Pricing still matters a lot.

Mortgage rates are adding to the pressure for buyers

Freddie Mac reported the 30-year fixed rate averaged 7.40% as of October 15, 2026. The 15-year fixed averaged 6.71%. Realtor.com also showed 7.40% as the average mortgage rate as of October 22, 2026. These rates are above where many buyers hoped to be. That shapes how far a budget stretches on a $1,200,000 median price.

The National Association of Realtors counted 3.99 million existing-home sales nationally in September 2026. Prices nationally rose 1.3% from a year earlier, per the National Association of Realtors. That national price gain is much smaller than the 14.3% the Real Estate Data Aggregator recorded locally in 97703.

What this means, in plain terms

These are ZIP-code-wide numbers for the three months ending August 31, 2026. One street can read very differently from the whole ZIP. A block with different lot sizes, views or price points can move faster or slower than these figures suggest. Your home's story may not match the average.