Economic and political uncertainty related to the war in Iran has been having a noticeable impact on the housing market as a whole, but the equestrian home market in particular has been relatively unaffected.
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Market Update
Home sales activity was down overall in the first quarter of this year when compared to last, but the equestrian home market held steady. The number of equestrian homes sold in the Puget Sound region in the first quarter of this year was the same as in the first quarter of 2025, and the median sale price was up 3% year over year. One note of caution, the available inventory of equestrian homes is significantly higher than for non-equestrian homes. Supply is starting to outpace demand, which could have an impact on home values going forward.
88 equestrian homes were sold in Pierce, King, Kitsap and Thurston counties in the first quarter of 2026 – exactly the same number as sold in the first quarter of 2025.
The median sale price for an equestrian home in the Puget Sound region in the first quarter of 2026 was $857,500 – about 3% higher than it was 12 months ago.
The pace of the equestrian home market seems to be slowing in King, Kitsap and Thurston counties. It’s taking about 3 months on average to get new listings under contract.
Inventory levels are up in all counties, suggesting that supply is starting to outpace demand.
Current Market Conditions
- Mortgage interest rates have risen again, with the average 30-year fixed rate hovering around 6.5%. National Association of Realtors chief economist Lawrence Yun predicted that rates could rise to 7% if oil prices reached $100 a barrel. That didn’t happen, but there’s clearly still an unfavorable connection between oil prices and interest rates.
- According to real estate data source ATTOM, fewer investors have been flipping properties lately, in large part because the return on investment just isn’t as attractive as it used to be. This is likely due to a flattening in home values and a continued increase in the cost of labor and materials.
- Efforts are being made at the federal level to ease the housing crisis by making homes easier to build and easier to buy, including proposed legislation to limit single family home purchases by institutional investors. Limiting investor access to the housing market should make more homes available for regular buyers
Given the unique considerations involved in buying or selling a horse property, relying on a broker with real world equestrian experience makes good sense. If you’re thinking about buying or selling a horse property in the Puget Sound area, please give me a call to discuss how I can put my knowledge and experience to work for you.
Jeff Williams has been riding and showing American Quarter Horses since childhood and is a top-producing Realtor with Commencement Bay Brokers, specializing in equestrian property sales in King, Pierce, Kitsap and Thurston counties.
Jeff Williams