Washington Real Estate Market Overview
Home Prices
- The median price for single-family homes in Washington has seen a steady increase, reaching over $626,000 in early 2024.
- Home prices experienced a 3.2% year-over-year rise as of January 2025, reflecting continued demand in the market.
- The number of homes sold in January 2025 increased by over 11% compared to the previous year, showing strong buyer interest.
- Inventory levels have risen by nearly 20%, providing more options for buyers and slightly easing competition.
- In Western Washington, home prices have climbed approximately 5% year-over-year, with higher demand in urban areas.
- More suburban and rural locations are seeing price stabilization as inventory expands.
- The market is expected to shift slightly toward buyers in the second half of 2025, with home prices rising at a slower pace.
- Increased inventory and a more balanced market may create better opportunities for both buyers and sellers.
Washington's real estate market remains dynamic, with steady price growth, increasing sales activity, and improving inventory, creating a more balanced environment for future transactions.