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Editor’s Note: Updated with 2025 reports
Are you a homeowner in Washington State? If so, you may be interested to know that median home prices in the state have seen substantial growth over the past two decades. With the current strong market, now may be an ideal time to sell and take advantage of rising home values.
According to historical data from the Washington Center for Real Estate Research*, Washington State’s median home sales price in 2001 was $179,900. Prices gradually increased over the next several years, reaching $260,900 in 2005. Between 2005 and 2008, the market experienced moderate growth, with the median price rising to $284,400, a 9% increase over three years.
The housing downturn following the 2008 financial crisis brought a decline in home prices, with the median price dropping to $236,600 in 2012 and $253,800 by 2013. Since then, the market has recovered strongly. By 2017, the median home price jumped to $385,700, reflecting revised data published in 2024. From 2017 through 2024, prices continued to climb, reaching $648,600, despite minor fluctuations along the way.
Over the past 25 years, Washington State’s median home price has increased dramatically, rising from $179,900 in 2001 to $648,600 in 2024. This represents a growth of approximately 261%, or an average annual increase of around 6.3% per year. Even accounting for market fluctuations, the long-term trend highlights the strong appreciation of real estate in the state and the significant opportunity for homeowners.
Overall, Washington State has seen a steady long-term increase in home values, with occasional dips. This trend is expected to continue as the state grows and attracts new residents, creating strong demand for housing.
For homeowners considering selling, the market conditions are favorable. With median home prices at historic highs, now is a strategic time to capitalize on your property’s value.
At Nine8 Redevelopment, we understand that selling a home can be stressful, especially when time is a factor. That’s why we offer flexible solutions to meet your needs. Whether you prefer a cash offer to sell quickly or want to list your home on the open market with our guidance, our goal is to make the process as smooth and efficient as possible. We pride ourselves on honesty, integrity, and clear communication, ensuring you achieve your goals with minimal hassle.
Resource: Washington Center for Real Estate Research Housing Market Data Reports.
Disclaimer: Data from 2017 onward was republished in 2024 with revised figures. The original data from the Washington Center for Real Estate Research is no longer publicly available. As a result, the apparent increase in 2017’s percentage change reflects this update rather than market fluctuations.
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