Weekly Market Update: Feb 23rd through March 1st

Here’s what we saw across South Snohomish and North King County this week:

This Week’s Stats

New Listings: 156 ⬇️ from 168
Pending: 175 ⬆️ from 165
Sold: 150 ⬆️ from 112
Price Reductions: 111 ⬆️ from 54

Weekly Trend Overview

New listings dipped slightly, but buyer activity picked up in a big way. Pending sales increased and closed sales jumped significantly week over week. The most notable shift was in price reductions, which more than doubled compared to last week.

That tells us two things at the same time: buyers are active and motivated, but they are also price sensitive. Homes that are positioned well are moving. Homes that overshoot the market are adjusting quickly.

What This Means for You

Buyers

More homes are closing and pendings are strong, which means competition is still out there. However, the spike in price reductions is creating opportunity. If a home has been sitting or just reduced, there may be room for stronger terms or negotiations.

This is a market where strategy matters. Knowing which homes are likely to move quickly and which ones are overpriced can make a big difference.

Sellers

Buyers are absolutely in the market. One hundred fifty homes closed this week alone. That is a strong number.

But pricing right out of the gate is critical. With 111 reductions in just one week, the market is clearly correcting homes that missed the mark. The first 7 to 10 days on market are still the most important window.

If you’re thinking about making a move this spring, this is the time to start preparing. Positioning and presentation are everything right now.

If you want to know how your specific neighborhood is performing, or what your home might realistically sell for in today’s market, let’s connect.