and Why it Matters...
This time of year, Tacoma buyers and sellers start popping into the market like crocuses - harbingers of spring. This past month was the liveliest February we’ve seen in years!
The important question is WHO is coming out of hibernation in greater numbers; buyers or sellers? That answer will inform so much about our market in 2026, like how long it takes to sell, whether we see bidding wars or price reductions, and the direction prices move.
I mentioned February was busy. But with who? Buyers or sellers? Much of our time has been spent working with soon-to-be sellers in prep mode, but also with a few buyers. There is a pretty healthy population of buyers generally. We know this from the reaction to our new listings in February. They got abundant showings, busy open houses and multiple offers. This personal experience could reflect the market at large. That would be consistent with chatter around the Windermere water cooler.
By the numbers:
This February we saw 263 fresh home listings in Tacoma
For comparison, there were 213 last February
That's 23% more new listings
There were 229 pending sales in February
Which was 4.5% more pending sales than last year (219)
Those stats seem seller-heavy, but it makes sense that pending sales will lag new listings. It took 2 weeks on average to get under contract in February (twice as fast as January!) But if the market continues to see more new sellers than buyers, that could lead to excess inventory and more of a buyer’s market. Our market in Tacoma is currently in balance:
229 pending sales / 395 active listings
That is actually a civilized place to be.
Bonus Observation:
One of our new listings had great bones - A large north Tacoma rambler with a new roof, large lot and a 2-car garage. It needed some cosmetics; flooring, kitchen, bathrooms. We got 20 showings in 4 days! All but two buyers passed. Many did not want to take on a project.
The Takeaways
There are more sellers coming back into the game right now than buyers, but our market is in balance. Prices should be stable. Properly priced homes are getting lots of interest. Today’s buyers are showing a preference for turn-key.
Remember, if you are thinking of selling and want to make the house turn-key, we can help with suggestions, contractors and even an easy way to pay for the fix-ups at closing.
FAQs
1. If the market is "in balance," do I still need to offer above asking price?
While a balanced market means there is roughly equal leverage between buyers and sellers, "turn-key" homes in desirable North Tacoma neighborhoods still command a premium. If a home is move-in ready and priced correctly, you may still face competition. For homes needing "cosmetics"—like the rambler mentioned in the post—you likely have more room for negotiation on price or closing costs. Look at how many days on market. If the listing is new and activity is good, you are probably looking at full price or better. 30+ days on market is ripe for a more aggressive offer.
2. What exactly defines a "turn-key" home in today’s Tacoma market?
Today’s buyers are specifically looking for updated "big ticket" systems and modern aesthetics. This includes:
- Systems: A roof with 10+ years of life, updated electrical panels, and a modern HVAC system.
- Cosmetics: Neutral paint palettes, refinished hardwoods or new LVP flooring, and quartz countertops. Since many buyers are maxing out their budget on monthly payments due to current rates, they often lack the liquid cash to perform these renovations immediately after closing.
3. I want to sell, but I'm worried about finding my next home. What are my options?
This is the "seller’s catch-22." Since inventory is still relatively low, many sellers use a Home Sale Contingency or negotiate a Rent-Back Agreement, allowing you to stay in your current home for 30–60 days after closing while you finalize your purchase. Because the market is "civilized" right now, buyers are often more willing to agree to these terms than they were during the hyper-competitive years. I did a full post on how to pull this off utilizing your powerful home equity. It is a great option.
