Weather radar (at 1:05 PM) shows a modest front, with associated precipitation, approaching the coast (see image).
You can also see the front in the latest visible satellite imagery:
The air is PLENTY cold to snow. The latest observations at SEA-TAC airport show the temperature is -10C at 850 hPa (about 5000 ft) and below freezing pretty much down to the surface (see temperatures and winds below in a time-height cross section)
And the air is quite dry. That is important because precipitation falling into the cold air will evaporate (sublimate) and cool.
The only issue is how much. There we have a problem for snow lovers in Seattle. The winds are westerly/northwesterly approaching our region and this will result in a rainshadow (or in this case snowshadow) in the lee of the Olympics over central Puget Sound.
Our snow will be light....not much more than about a half-inch around Seattle, with more north and south. Here is a forecast of the 24-h total precipitation (ending 4 AM Saturday). You can see that pesky rain shadow. There will be plenty of snow in the mountains, and several inches over parts of NW Washington. The Kitsap will get several inches.
Anyway, a least the Seattle commute will not be too bad with the small amounts expected...but be careful in any case.