Washington started 2024 with a total of 8,251 single-family homes on the market, with a median home price of $625,000 and an average price per square foot of $363.05. By the end of the year, inventory had increased to 10,133 homes on the market (+23%), with a median home price of $599,950 (-4%), and an average price per square foot of $362 (0%).
At the start of 2024, the median days on market (DOM) was 77 days – by the end of the year, median DOM had increased to 84 days.
Washington started the year with 30.52% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 35.44% of homes for sale had taken a price cut.
