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

 

Local Look Western Washington Housing Update 

More listings. More negotiating power. And early signs of a shift. In this month’s Local Look video, Windermere’s Chief Economist Jeff Tucker breaks down the latest NWMLS housing data—and what it could mean for buyers and sellers as the market heads into its busiest season.

Click to view Full Forecast
 
 
 
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What Is Washington State’s Covenant Homeownership Program?

The Covenant Homeownership Program is a new state initiative designed to help eligible first-time buyers overcome barriers to homeownership rooted in decades of discriminatory housing practices. Created by the Covenant Homeownership Act of 2023 and launched statewide in 2024, the program offers downpayment and closing cost assistance in the form of a 0% interest loan that is typically repaid only when the home is sold or refinanced — and, under recent updates, may be forgiven after five years for some buyers.

Click for more informatiion / Homeownership-wa.org

1031 Exchange: Rules And Basics To Know

Thinking about selling an investment property? This article explains the basics of a 1031 exchange — how it works, when it applies, and how reinvesting proceeds into a like-kind property can help defer capital gains taxes.

Click to read full article / Forbes.com

Washington State has the most Waterfalls in the country

Here are the Top 3 falls for your Bucket List

Click to view list at secretseattle.co
 

BRICK CHARACTER ON BEACON HILL

Grounded   |  Flexible  |  Honest

5503 33rd Ave S

Now $718,000

1,750 SF   |   3 Beds   |   1.75 Baths

MLS# 2471993

Set above the street on a sunny corner lot, this 1948 brick contemporary offers privacy, light, and presence. The living room is warm and inviting with a wood-burning fireplace, coved ceilings, and refinished hardwoods. A new kitchen with a sunny corner eating space features quartz counters, new cabinetry, and stainless appliances. Two bedrooms and a renewed main-floor bath complete the main level. Downstairs adds a flexible family or media room with exterior access, a non-conforming third bedroom, and a ¾ bath with laundry. Outside, enjoy gated front parking, a rear side driveway with space for a boat or RV, and a concrete patio with afternoon light. Fully pre-inspected, with known items disclosed and reflected in price. Close to Columbia City, parks, Lake shores, and transit.

View home online
 
 
 
 

Erik Stanford

‌‌Windermere Real Estate Mount Baker‌‌

erikstanford@windermere.com
E‌rikStanford.com

‌+1 206-280-3773‌‌
‌‌4919 South Genesee Street‌, Seattle

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