The Seattle area housing market is starting to heat up as we move through mid winter and begin transitioning toward the spring market. While inventory has not yet seen the typical spring surge, more homes are coming on the market across King and Snohomish counties compared to earlier in the season. Listing activity is picking up gradually, which is normal for this time of year, as January is usually slower and most early year sales come from homes that went pending in late fall and early winter.

New listings increased week over week, showing early signs of sellers preparing for the spring market. Pending activity has also remained strong and even increased, which is a key indicator of buyer demand. Although the number of closed sales is still relatively low, that is typical for winter months. The growing volume of pending sales suggests that February numbers are likely to be stronger than what we saw at the end of the year.

Price reductions are still common across the market, continuing a trend that began in the second half of last year. However, beneath that surface, pricing pressure is building. Homes are increasingly selling at or above asking price, particularly in King County. Mortgage rates remain relatively stable in the low six percent range, which has helped maintain buyer interest even as affordability remains a concern.

King County is leading the market momentum. Over the most recent week, homes sold for an average of five percent over asking price, a notable shift compared to recent months. While fewer homes experienced multiple offer scenarios overall, the properties that did attract competition saw stronger bidding, fewer contingencies, and more aggressive terms. Median sale prices have remained relatively steady, suggesting that sellers may be pricing homes more strategically to generate interest and competition rather than pushing prices higher outright.

In Snohomish County, the story is similar but less intense. Median prices edged up slightly, but homes generally sold closer to list price rather than well above it. Competition remains present, though multiple offers and escalation clauses are less common than in King County. Buyers in Snohomish County are also retaining more inspection contingencies, indicating a slightly more balanced dynamic.

Overall, inventory remains limited while buyer activity is increasing. This combination is setting the stage for a more active and competitive spring market. For buyers, winter typically offers less competition than spring, making now a smart time to get prepared. For sellers, starting the preparation process early is key. Waiting too long can mean missing the prime spring window and listing closer to summer, which often brings softer conditions in the Seattle area.

Timing the market perfectly is never easy, but understanding seasonal patterns can make a meaningful difference. Whether you are buying, selling, or simply trying to understand where the market is headed, staying informed and planning ahead can put you in a stronger position as the year unfolds.