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Happy Valentine's Day. February is here, and the Seattle market is finding its rhythm after a selective start to the year. Inventory climbed again in January, with active listings up 30% year-over-year and months of supply reaching 2.1 — giving buyers more room to breathe than they’ve had in several seasons. Prices eased modestly, with the median closed price at $850,000, down 1% from last January. At the same time, affordability quietly improved. Mortgage rates averaged 6.1%, down from 7.0% a year ago, reducing the typical monthly payment by about $531 compared to last January — a meaningful shift in real dollars. The pattern remains clear: homes priced well and prepared properly are still selling quickly, often at full price in the first two weeks, while listings that stretch on price are seeing adjustments. This isn’t a stalled market — it’s a selective one. If you’re thinking about buying or selling this year and want to talk through timing, prep, or strategy, I’m always happy to help. And if selling is on your radar, now is an ideal time to begin preparing your home for peak spring activity.
— Erik
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