Focus on the BIG picture.
Sunday, Feb 15, 2026
Outside the box.
Washington State Home Listings Surge as Sales Slow, NWMLS Data Shows
Active listings jump more than twenty percent while closed home sales decline, signalling shifting regional housing dynamics
The residential property market in Washington state saw a marked rise in available homes for sale in January as active listings climbed sharply year-over-year, even as closed sales and median prices moderated, according to the latest report from the Northwest Multiple Listing Service.
NWMLS data for January 2026 showed that the total number of active listings across much of the state increased nearly twenty-one percent compared with the same month last year, with over twelve thousand homes on the market compared to just over ten thousand in January 2025. Inventory levels also rose modestly month-over-month, suggesting a growing supply of homes at a time when buyer demand has softened.
At the same time, closed sales — transactions in which ownership formally changes hands — were down approximately seven percent from January 2025, with just over three thousand four hundred completed compared to roughly three thousand seven hundred the prior year.
Sales volumes also declined on a monthly basis, reflecting typical seasonal patterns as well as broader affordability challenges.
Median home prices in the NWMLS service area eased by about three percent from the previous year, landing near five hundred ninety-five thousand dollars in January 2026. Price moderation has accompanied rising inventory levels and slower sales activity, offering buyers slightly more options in a market that has experienced tight supply in recent years.
The expansion in active listings was widespread across the region, with double-digit increases reported in the majority of the twenty-seven counties tracked by NWMLS.
Areas such as Jefferson, Walla Walla and Thurston counties reported some of the largest year-over-year inventory growth.
Market analysts suggest that while increased mortgage affordability and renewed buyer interest may provide momentum moving into the spring selling season, ongoing economic pressures and rate considerations continue to temper transaction volumes.
The shift toward a more balanced market — with supply beginning to catch up with demand — could influence pricing dynamics and buyer behaviour in the months ahead.
NWMLS data for January 2026 showed that the total number of active listings across much of the state increased nearly twenty-one percent compared with the same month last year, with over twelve thousand homes on the market compared to just over ten thousand in January 2025. Inventory levels also rose modestly month-over-month, suggesting a growing supply of homes at a time when buyer demand has softened.
At the same time, closed sales — transactions in which ownership formally changes hands — were down approximately seven percent from January 2025, with just over three thousand four hundred completed compared to roughly three thousand seven hundred the prior year.
Sales volumes also declined on a monthly basis, reflecting typical seasonal patterns as well as broader affordability challenges.
Median home prices in the NWMLS service area eased by about three percent from the previous year, landing near five hundred ninety-five thousand dollars in January 2026. Price moderation has accompanied rising inventory levels and slower sales activity, offering buyers slightly more options in a market that has experienced tight supply in recent years.
The expansion in active listings was widespread across the region, with double-digit increases reported in the majority of the twenty-seven counties tracked by NWMLS.
Areas such as Jefferson, Walla Walla and Thurston counties reported some of the largest year-over-year inventory growth.
Market analysts suggest that while increased mortgage affordability and renewed buyer interest may provide momentum moving into the spring selling season, ongoing economic pressures and rate considerations continue to temper transaction volumes.
The shift toward a more balanced market — with supply beginning to catch up with demand — could influence pricing dynamics and buyer behaviour in the months ahead.
