03/10/2026
The February 2026 market market report from the Northwest Multiple Listing Service (NWMLS) reveals a significant surge in housing inventory, with active listings increasing nearly 28% year-over-year to a total of 13,341 properties. This expansion in choice for buyers is supported by a 17% increase in new listings compared to last year, as more sellers decide to enter the market. While the median sales price across the region reached $620,000—a slight 1.6% dip from February 2025—it notably rose 4.2% from January, suggesting a stabilizing trend as we head into the spring. Buyer activity remains resilient, evidenced by a 19.5% month-over-month jump in closed sales and a nearly 7% increase in keybox accesses. These shifts are occurring alongside mortgage rates dipping below 6% for the first time since 2022, creating a more favorable environment for those looking to make a move. Overall, the data points toward a healthier, more balanced transaction environment characterized by increased supply and steady demand.