The answer depends on how you read the current value level.
If you are asking whether now is a smart time to act, I would start with price. Last month, Federal Way's typical home value was $653,330, and that gives you a clear basis for the decision.
Last month, a typical home value was $653,330. That number does not make the decision for you, but it does make the decision more honest. In Federal Way, WA, I would use it to check whether your timing lines up with your goals.
For buyers, this is a cue to stay selective and practical. For sellers, it is a cue to make sure the asking price reflects where the market is right now. I would not let either side drift away from that benchmark.
Set your target range. Tighten your plan before you list or offer. Keep the current value level in view when you decide what comes next.
