Strength 4 / 5
20 days
Bellevue homes taking 20 days to sell — +100.0% vs. a year ago
Homes are sitting materially longer than they were this time last year — the first hard sign of softening demand or over-priced inventory.
Markets › Washington
Washington housing market
In the Evergreen State, part of the Census Bureau's Pacific division, Pecan Street tracks five markets. Median sale prices run from $379K in Spokane to $887K in Seattle as of Aug 2026. Two of five are higher than a year earlier and three are lower; Olympia leads at +2.9% and Seattle trails at -1.8%.
Homes sit longest in Olympia (60 median days on market) and sell fastest in Seattle (51 days). The share of active listings with a price cut runs from 30% in Bellingham to 46% in Olympia. Price-to-rent ratios run from about 15 in Spokane to 22 in Seattle, measured as years of HUD Fair Market Rent per median sale price. Washington's unemployment rate was 4.9% in Aug 2026 (BLS via FRED). The national rate was 4.2% in Sep 2026.
Markets at a glance
| Market | Median sale price | YoY | Days on market | Price-cut share | Price-to-rent |
|---|---|---|---|---|---|
| Bellingham | $650K | +0.1% | 57 | 30% | ≈ 21 |
| Kennewick | $422K | -0.8% | 58 | 37% | ≈ 17 |
| Olympia | $554K | +2.9% | 60 | 46% | ≈ 18 |
| Seattle | $887K | -1.8% | 51 | 42% | ≈ 22 |
| Spokane | $379K | -0.9% | 52 | 41% | ≈ 15 |
Median sale price and year-over-year change from Redfin (rolling three months); median days on market and the share of active listings with a price cut from Realtor.com; price-to-rent is each market page's figure (its median sale price over a year of HUD Fair Market Rent). Figures are per metro market, not statewide.
Cities
Bellingham, WA
$650K · +0.1%
Kennewick, WA
$422K · -0.8%
Olympia, WA
$554K · +2.9%
Seattle, WA
$887K · -1.8%
Spokane, WA
$379K · -0.9%