Seattle Real Estate Market Update – February 2026

The Seattle Seahawks just brought home another Lombardi Trophy, and the celebration across Seattle is real. While the city reflects on its Super Bowl glory, let’s take a closer look at what’s happening in the Seattle real estate market this February 2026 — and how today compares to the last championship run in 2014.

If you’re thinking about buying or selling in Seattle or Bellevue, here’s what you need to know.

Mortgage Rates – February 2026

Mortgage rates continue to shape buyer activity across King County and beyond.

Current averages:

• 30-Year Fixed: 6.14%
• 15-Year Fixed: 5.71%
• Jumbo Loans: ~6.3%
• FHA: 5.7%
• VA: 5.72%

Rates remain in the low-6% range. If they trend downward later this year, we could see a noticeable increase in buyer demand.

Seattle Housing Market Snapshot

Median Home Prices

• Seattle: $850,000 (↑ 2.4% year-over-year)
• Bellevue: $1,935,000 (↓ 13.1% year-over-year)*

*Bellevue pricing can fluctuate significantly due to fewer sales and higher price points.

Sale-to-List Price Ratio

• Seattle: 98.8% of list price
• Bellevue: 97.2% of list price
• Compared to original list price: ~96% in both markets

Homes are still generally selling below asking price, though competition is beginning to increase in certain neighborhoods and price points.

Days on Market

• Seattle:
  • Average: 53 days
  • Median: 40 days
• Bellevue:
  • Average: 38 days
  • Median: 15 days

The median days on market suggests well-priced homes are moving quickly — especially in Bellevue.

Inventory Is Rising — But It’s Still a Seller’s Market

January brought a surge of new listings:

• Seattle: 715 new listings (↑ 22% year-over-year)
• Bellevue: 107 new listings (↑ 37% year-over-year)

Pending sales show renewed buyer activity:

• Seattle: 395 pending (flat year-over-year)
• Bellevue: 67 pending (↑ 34%)

Months of Supply

• Seattle: 1.9 months
• Bellevue: 1.6 months

Anything under 2–2.5 months of supply still favors sellers. A true buyer’s market typically begins around 4 months of supply.

We are not there yet.

Instead, we’re seeing signs of an early spring market — more inventory, more showings, and more multiple-offer situations.

2014 vs. 2026: Seahawks Super Bowl Comparison

The last time the Seahawks won the Super Bowl was in 2014. Let’s compare median home prices then vs. now.

Seattle

• February 2014: $450,000
• February 2026: $850,000
• Increase: +$400,000

Seattle home values have nearly doubled since 2014.

Bellevue

• February 2014: $661,500
• February 2026: $1,935,000
• Increase: Over $1.27 million

Bellevue has experienced explosive growth over the past 12 years — more than tripling its median home price.

If you bought property during the Seahawks’ last championship season, you’ve seen significant equity gains.

What This Means for Buyers and Sellers

For Sellers:

• Low inventory still favors you.
• Buyer activity is picking up.
• Pricing strategy is critical as more listings hit the market.

For Buyers:

• More inventory means more options.
• Rates in the low 6% range keep affordability tight.
• Competition is increasing in desirable neighborhoods.

Final Thoughts

The Seattle and Bellevue real estate markets remain competitive in early 2026. While inventory is rising, we are still in seller-favored territory — especially if mortgage rates decline later this year.

Whether you’re relocating to Seattle, upgrading, downsizing, or simply exploring your options, understanding market timing and local trends is key.

If you’d like a personalized strategy for buying or selling in Seattle or Bellevue, now is a great time to start the conversation.