Like the U.S. as a whole, the real estate market in Washington has been on fire over the past few years. According to Redfin data, median home sale prices are up 17% in 2022 over 2021, and the median days on market is down two days year-over-year to only six days. Wow!
Let’s take a look at the five fastest-growing cities in this blazing hot market, according to census data.
Population 2010: 4,763
Population now: 10,319
Percentage change: 116%
Ridgefield is a booming northern suburb of Portland. Despite more than doubling its population in the last 12 years, it’s still a relatively small town and retains some of that small-town feel.
The median home value is $406,400.
Population 2010: 48,787
Population now: 92,175
Percentage change: 88.9%
Kirkland is an eastern suburb of Seattle, but it’s the 12th-largest city in the state in its own right (and growing fast!). Many of the residents of Kirkland commute into Seattle for work or school, but the city has its own attractions for residents including artsy galleries and outdoor recreation opportunities.
The median home value is $724,700.
Population 2010: 33,313
Population now: 52,066
Percentage change: 56%
Burien is a small city south of Seattle on the Puget Sound. It’s known for its cool food scene and beach access.
The median home value is $419,500.
Population 2010: 92,411
Percentage change: 48%
Kent is yet another suburb of Seattle, this time to the south. It’s a diverse mix of city and suburban living with plenty of hip coffee shops and outdoor recreation opportunities.
The median home value is $378,800.
Population 2010: 45,780
Population now: 67,455
Percentage change: 47%
Sammamish is located between Lake Sammamish and the Snoqualmie Valley, about a half hour east of Seattle. It’s got a suburban vibe and is known for being safe and family-friendly.
The median home value is $878,000.
As you can see, home values in Washington are high and on the rise, and most of the fastest-growing areas are suburbs and bedroom communities of its biggest city, Seattle. In fact, Seattle itself grow 21% between the 2010 and 2020 census.
Washington real estate agents looking to work in high-growth areas would be well served to check out the cities and neighborhoods around Seattle, Portland, and the other hip and growing cities of Washington.
Want to learn more about Washington real estate? Check out our blog!