Eastside Housing Market Update: October 2026

The Eastside — Bellevue, Kirkland, Mercer Island, Redmond, Sammamish, and Issaquah — moved deeper into buyer's-market territory in October 2026. The residential median closed price fell to $1,350,000, down 13% from a year ago, while active listings rose 48% and months of supply hit 4.5. Here is what the numbers say, and what they mean if you are thinking of buying or selling this fall.

The Eastside at a Glance

Median closed price: $1,350,000 — down 13% from October 2025 ($1,550,000)
Homes for sale: 1,764 — up 48% year over year
Months of supply: 4.5 months, up from 2.6 a year ago
Closed sales: 408 — down 18%
Homes that went under contract: 396 — down 15%
30-year fixed rate (October average): 7.3%

Median Sale Price by City — October 2026

Bellevue: $1,592,500 (−15.7% YoY; 22 median days on market; 94.7% of original list; 74 closed)
Kirkland: $1,255,000 (−13.4%; 18 days; 95.6%; 70 closed)
Mercer Island: $2,650,000 (+0.8%; 15 closed)
Redmond: $1,392,000 (−0.6%; 13 days; 95.7%; 45 closed)
Sammamish: $1,440,000 (−10.0% from September; 19 days)
Issaquah: $1,500,000 (32 days)

The one pocket still rising: Bellevue west of I-405, at roughly $3.4M (+5.4%, 16 sales). Everywhere else, the correction is broad-based.

The Pattern That Matters Most

Condos are taking the hardest hit. The Eastside condo median fell to $572,472, down 23% year over year, with closed sales down 36%. Including condos, the combined Eastside median was $1,247,500, down 9%.

Price cuts are now routine: 26% of Redmond listings, 22.2% of Kirkland listings, and 16% of Bellevue listings had taken a cut. In Bellevue, homes that closed in October had spent a median 38 cumulative days on the market, up from 12.5 days a month earlier — pulled up by homes that launched high and reduced. And a like-for-like analysis shows a Bellevue house selling for about 10.6% less than last summer, and a Kirkland house about 8.5% less, even where headline medians look flatter. The $1.5M–$2M price tier saw the steepest drop in closed sales. At the high end, West Bellevue is down 15% year over year, and on Mercer Island the median active listing ($3.3M) sits far above the median sold price ($2.4M) — a high-end glut.

Rates and the Bigger Picture

The 30-year fixed peaked at 7.40% in mid-October (weeks ending Oct 8 and Oct 15), then eased for three straight weeks to 7.18% for the week ending Nov 5 (Freddie Mac). The Fed held its target rate at 3.75%–4.00% on Oct 28, by a 10–2 vote — both dissenters wanted another hike. The next meeting is Dec 8–9, and markets price roughly 77% odds of another quarter-point hike. October payrolls came in hot (+165,000 vs ~65,000 expected, BLS, Nov 6), and October CPI rose 0.4% month over month, with core up 0.3% (BLS, Nov 10). Fannie Mae's October forecast sees the 30-year averaging around 7.5% through all of 2027.

What This Means for Buyers

With 48% more homes to choose from, 4.5 months of supply, and most cities closing at about 95% of original asking, you have time and leverage — especially on homes that have been sitting or have already cut their price. Condos are the softest segment of all. A fresh, well-priced home can still move fast (Redmond's median was 13 days), so don't expect a discount on those; do expect room to negotiate on price, terms, or a rate buydown on the rest.

What This Means for Sellers

The first two weeks still decide your outcome — and October's data shows what happens when they don't. Homes that launched high and reduced spent a median 38 days on market in Bellevue, versus 12.5 a month earlier. Price to the most recent closed sales from day one, especially in the $1.5M–$2M tier, where sales fell the most.

Eastside & Seattle News

Microsoft offers voluntary exits to ~60,000 employees — about 27% of its 223,000-person workforce, with decisions due in early December. Watch for rental softness first in Redmond near campus, plus Bellevue premium condos and $1.5M–$3.5M homes. — Allen Wesley Homes blog, Nov 5, 2026 (Microsoft's Oct 26 announcement).
The Bellevue Collection to be listed for sale — the 5.5M-square-foot portfolio (Bellevue Square, Lincoln Square, offices, hotels) is to be formally listed in early November; the planned $1B+ "The Bellevue" expansion remains on indefinite hold. — Downtown Bellevue Network, Nov 2, 2026.
Onni Bellevue opens office leasing — 800,000 sq ft in the 47-story tower at 606 106th Ave NE, delivery Q4 2030, the only major office building under construction on the Eastside. Eastside office vacancy was 22.4% in Q3. — Downtown Bellevue Network, Nov 2, 2026; Kidder Mathews, Nov 4, 2026.
Bellevue proposes a new High-Density Residential district (~60 units/acre) in Crossroads and Factoria, plus PUD modernization, implementing the Bellevue 2044 Comprehensive Plan; public info session Dec 2, 2026. — City of Bellevue, accessed Nov 10, 2026.
NWMLS: condo median $435,000 in October, lowest since Feb 2023 (−13% YoY); total active listings near a 12-year high across the 27-county region. — NWMLS via 425business.com, Nov 6, 2026.

Thinking about a move on the Eastside? I'd be glad to run the numbers for your specific home or search. David Park, Managing Broker, Windermere Real Estate/East, Inc. — 206.672.3998, DavidParkHomes.com.

Sources: Eastside totals — NWMLS residential data via Windermere Real Estate/East, October 2026 (windermerestats.com); per-city medians, days on market, and sale-to-list — Coldwell Banker Danforth "Market Pulse" (NWMLS via InfoSparks), October 2026; Mercer Island median — NWMLS via 425business.com, Nov 6, 2026; price-cut shares — Dynamic.RE, October 2026; like-for-like analysis — Compass, Oct 2, 2026; mortgage rates — Freddie Mac Primary Mortgage Market Survey; Fed — FOMC statement, Oct 28, 2026; CPI — BLS, Nov 10, 2026. Figures are a market snapshot for reference, not a forecast. The Eastside-wide median days on market and share of homes selling above asking for October could not be verified from a named source, so they are omitted rather than estimated.