Equestrian home prices in the Puget Sound area have flattened out, but sales activity is up overall.
Fourth Quarter Equestrian
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Market Update
The median sale price for an equestrian home in King, Pierce, Kitsap and Thurston counties is $852,500 – about 2% lower than it was 12 months ago – but year over year sales activity was up about 9% in the fourth quarter of 2025. Inventory levels vary significantly from county to county, with current inventory levels lowest in King County. We’ll see an influx of new listings as we head into the first quarter of 2026, but “slow and steady” are likely to be the watchwords for the year.
118 equestrian homes were sold in Pierce, King, Kitsap and Thurston counties in the fourth quarter of 2025 – up about 9% year over year when compared to the fourth quarter of 2024.
The median sale price for an equestrian home in the Puget Sound region in the fourth quarter of 2025 was $852,500 – about 2% lower than it was 12 months ago.
Equestrian homes in King, Kitsap and Thurston counties haven’t been selling as quickly as they were earlier in 2025. Time from “active” to “pending” in the fourth quarter was 2-3 months on average.
Though there’s variability across counties, inventory levels as a whole seem to be trending down, which is atypical for this time of the year.
Current Market Conditions
- National Association of Realtors chief economist Lawrence Yun is predicting a 14% increase in sales activity in 2026 and a 4% increase in home values. Other real estate economists aren’t quite as optimistic, with many predicting a flat housing market in the coming year.
- After three separate rate cuts in 2025, the Federal Reserve has indicated that they’ll only be cutting rates once in 2026.
- Mortgage interest rates, currently hovering around 6.25%, are unlikely to move significantly up or down any time soon.
- Redfin and Fortune Magazine are both predicting modest improvements in housing affordability in 2026, due to flattening home prices and rising wages among potential home buyers.
- Housing affordability may continue to be an issue in Washington State, where our median home price ($592K) is the third highest in the country, according to data from Zillow. Only California and Massachusetts have higher statewide median home prices.
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