Washington housing market data: median home price, year-over-year appreciation, inventory, months of supply, days on market, affordability, and what it means
Washington is currently a balanced market. The median sale price sits near $631,000, up 2.5% from a year ago, with roughly 29,159 active listings and 3.4 months of supply. Homes are going under contract in about 37 days on average.
Washington's median sale price of $631,000 is 50.5% above the $419,300 national median, which places it 4 of 51 states by price level. Year-over-year appreciation of 2.5% ranks 33 of 51, so Washington is currently a middle-of-the-pack state relative to the rest of the country.
Inside the West region, the median state price is $631,000, so Washington runs 0.0% richer than its regional peers — the closest comparisons are Hawaii at $842,000, California at $812,000, Oregon at $512,000, Alaska at $372,000. That gap matters for loan sizing: at the same rate, a Washington file carries roughly $0 more balance than the regional median, which changes qualifying income and the value of a rate-and-term option.
Washington statewide numbers hide real spread across its metros. This report tracks 2 Washington metros: Seattle, WA ($782,000, +2.9% YoY); Spokane, WA ($432,000, +3.3% YoY). Price a file off the metro your borrower is actually buying in, not the state average.
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Washington is currently a balanced market. The median sale price sits near $631,000, up 2.5% from a year ago, with roughly 29,159 active listings and 3.4 months of supply. Homes are going under contract in about 37 days on average.
Affordability remains the binding constraint. At the current national average 30-year fixed rate near 6.42%, the typical payment on a median-priced home in Washington runs about $4,012 per month including taxes and insurance, against a median rent near $3,622. That gap is what determines whether purchase conversations in this market start with payment, with price, or with a buydown structure.
Supply is close to balance, with price reductions on about 18% of active listings. Builder incentives are selective, and permits are running near 42,819 annualized units.
For originators, the practical read is this: buyers have negotiating room again, so seller-paid temporary buydowns and closing cost credits are the highest-leverage tools in your kit.
Washington currently reads as a balanced market with 3.4 months of supply. Balanced is generally considered four to six months, so this market is close to balance.
The median sale price is approximately $631,000 as of 7/24/2026, up 2.5% from a year earlier.
No. Median prices are up about 2.5% year over year, though the pace of appreciation has slowed considerably from the 2021 peak.
The typical down payment on a closed transaction is near $102,045, and the resulting payment at the current national average 30-year fixed rate is roughly $4,012 per month including taxes and insurance. Low-down-payment FHA, VA, and conventional 3% options can materially reduce the cash required.
Our directional 12-month range is +0.9% to +4.3% on median price. Confidence is moderate; the rate path is the dominant variable.
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