The Washington Real Estate Market: 2024 Trends

I want to... ๐Ÿ  Sell my home | ๐Ÿ—๏ธ Buy a home | ๐Ÿ—บ๏ธ Find a new place to live in Washington

๐Ÿ’ก Key Washington housing market facts

Data PointValueRankCompared to National Avg
Typical Home Value $597,909[1]#4 of 50 states63.1% higher
Median Listing Price $650,000[2]#6 of 50 states41.7% higher
Median Sale Price $684,200[3]#3 of 50 states62.4% higher
30 Year Mortgage Rate 6.92%[4]#10 of 50 states0.8% lower
Median Days on Market 29[5]#6 of 50 states29.7% shorter
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๐Ÿ—บ๏ธ Buying a house in the Washington real estate market

Washington has an affordability score of 8.9, meaning it takes 8.9 years of the median household income ($77,006) to afford Washington's median home sale price ($684,200). Because of this, we rank Washington as the 4th least affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $684,200[6]#3 of 50 states62.4% higher
30 Year Mortgage Rate 6.92%[7]#10 of 50 states0.8% lower
Median Household Income $77,006[8]#9 of 50 states19.3% higher
Affordability Ratio 8.9#47 of 50 states37.8% higher
Buyers Agent Commission 2.51%[9]#17 of 50 states6.2% lower
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Resources for Washington home buyers

๐Ÿ—บ๏ธ Selling a house in the Washington real estate market

According to our detailed survey of Washington real estate agents, listing agents (those representing the seller) charge an average commission in Washington of 2.75%, which is the 13th lowest in the United States. Buyers' agents charge an average commission of 2.51%, which is the 17th lowest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $650,000[10]#6 of 50 states41.7% higher
Median Sale Price $684,200[11]#3 of 50 states62.4% higher
Median Days on Market 29[12]#6 of 50 states29.7% shorter
Buyer's Agent Commission 2.51%[13]#17 of 50 states6.2% lower
Listing Agent Commission 2.75%[14]#13 of 50 states3.8% lower
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Resources for Washington home sellers

Moving to Washington

According to our recent moving trends survey[15], Washington is the 8th most desirable state to move to, with 14% of Americans indicating that they would choose to move there if money were no object. Likewise, 14% of survey respondents indicated that they would move to Seattle among a choice of America's largest cities. Among medium-sized cities, 9% indicated that they would move to Spokane.

Here's how Washington cities rank in a number of our research studies.

StudyBest Washington cityRank
Best Pizza Cities[16]Seattle23rd best
Best Coffee Cities[17]Seattle10th best
Best LGBTQ Cities[18]Seattle18th best
Best Bike Cities[19]Seattle9th best
Best Commuter Cities[20]Seattle31st best
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Article Sources

[1] Zillow โ€“ "Zillow Home Value Index". Updated April 30, 2024.
[2] Realtor.com โ€“ "Realtor.com Data Library". Updated May 2024.
[3] Redfin โ€“ "Redfin Data Center". Updated April 2024.
[4] Bankrate โ€“ "Bankrate". Updated June 2024.
[5] Realtor.com โ€“ "Realtor.com Data Library". Updated May 2024.
[6] Redfin โ€“ "Redfin Data Center". Updated April 2024.
[7] Bankrate โ€“ "Bankrate". Updated June 2024.
[8] US Census โ€“ "US Census, 2020 American Community Survey". Updated 2020.
[9] Clever Real Estate โ€“ "Clever Real Estate survey of American real estate agents". Updated June 2024.
[10] Realtor.com โ€“ "Realtor.com Data Library". Updated May 2024.
[11] Redfin โ€“ "Redfin Data Center". Updated April 2024.
[12] Realtor.com โ€“ "Realtor.com Data Library". Updated May 2024.
[13] Clever Real Estate โ€“ "Clever Real Estate survey of American real estate agents". Updated June 2024.
[14] Clever Real Estate โ€“ "Clever Real Estate survey of American real estate agents". Updated June 2024.
[15] Home Bay โ€“ "Half of Americans Are Surprised by How Much It Costs to Move". Updated February 26, 2024.
[16] Clever Real Estate โ€“ "The 15+ Best Pizza Cities in America". Updated February 12, 2024.
[17] Clever Real Estate โ€“ "The Best (and Worst) Coffee Cities in America". Updated January 12, 2024.
[19] Clever Real Estate โ€“ "The Most Bike-Friendly Cities in the U.S.". Updated July 17, 2023.
[20] Clever Real Estate โ€“ "The Best (and Worst) Cities for Commuters". Updated September 21, 2023.

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