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Home prices are slightly up from last year in Washington State and now sit at $626,300 as of January 2026. Prices increased a bit throughout the year, and they’re expected to continue in 2026. Low inventory is a big driver of rising home prices, which continues to be very tight in many housing centers across the state, especially in King and Pierce Counties.
Mortgage rates have dipped slightly throughout 2026, and are expected to decline further this year, though affordability remains an issue. As such, buyers may want to get into the Washington real estate market now before home prices continue to increase even more.
The median sales price for a typical house in Washington State as of January 2026 is $626,300 down 1.8% from last year, according to RedFin.
The number of closed sales decreased in Washington State by 11% year-over-year, as per RedFin.
In early 2026, King County’s housing market remains relatively robust with modest year-over-year price growth and increased inventory compared with earlier tighter conditions, giving buyers some more choices while demand persists near Seattle and surrounding areas.
Pierce County’s market is slightly more balanced, with stable prices and rising supply that has eased competitive pressure, drawing buyers who are priced out of King County but still seeking strong regional demand and accessibility.
According to RedFin, listings spend an average of 42 days on the market before selling, up 9 days year-over-year.
Current mortgage rates in WA are currently 6.15% for conforming 30-year mortgages, and 5.44% for 15-year mortgages. For jumbo loans, the numbers in the state are 6.61% for 30-year mortgages, and 5.88% for 15-year mortgages.
Homes on the market in Washington State are forecasted to sell at a healthy pace in 2026, as interest rates are expected to continue to decrease.
According to RedFin, home values in the Seattle-Tacoma-Bellevue metro area saw a mixture of price gains and dips over the past year:
Seattle continues to see a shortage of housing inventory, with only a 3-month supply of homes available right now.
In Seattle, homes sell 24 days after hitting the market, down 2 days from the same time last year.
Seattle saw an increase in the number of homes sold year-over-year, up 9.89% from the same month last year, according to RedFin.
If you have questions about mortgages in Washington State or are ready to apply for one, we’re happy to help. Sammamish Mortgage is a mortgage firm in Bellevue, Washington, serving the entire state, as well as Colorado, Oregon, California, and Idaho since 1992. Our experts will walk you through our mortgage programs to see which one is best for you. Contact us today with any question, get pre-approved, or visit our website to get an instant rate quote.
Whether you’re buying a home or ready to refinance, our professionals can help.
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