Washington State is one of the 25 hottest real estate markets in the country heading into mid-2026, according to a new Construction Coverage analysis published April 9. But that headline number tells mostly the story of The Emerald City. For buyers and sellers in Spokane, the picture is notably different — and in many ways, more favorable.
What Washington’s #24 Ranking Actually Reflects
The state’s composite score of 51.8 is largely driven by western Washington’s high-demand, high-priced market. Statewide, the median sale price as of January 2026 was $592,700. Nearly 29% of homes sold above asking price, and the average sale-to-list ratio was 99.4%. Homes spent a median of just 30 days on the market.
Why Spokane Stands Out Within That Picture
Spokane’s median sale price is running well below $450,000 — a fraction of the statewide figure. That gap isn’t a sign of weakness. It’s an affordability advantage that’s drawing buyers from Los Angeles, Houston, and Portland, all of which ranked among the top metros searching Spokane on Redfin earlier this year. Mark Hein, a Spokane-area real estate agent with eXp Realty, sees the state ranking as useful context but cautions against reading it as a direct reflection of local conditions. Spokane has its own market dynamics, its own price points, and its own pace — and right now, that pace is working in buyers’ favor in a way the statewide data doesn’t capture.
What’s Happening Nationally Puts Spokane in Better Context
Nationally, the Northeast is dominating the rankings. Connecticut leads the country with a composite score of 93.9, followed by New Jersey, Rhode Island, and New York. On the other end of the spectrum, many of the Sun Belt markets that surged during the pandemic have cooled significantly. Austin, Phoenix, and Mesa — cities that were among the top 15 hottest markets in 2021 — have fell to near the bottom of the 2026 rankings. The combination of rapid price increases, rising mortgage rates, and return-to-office trends reversed their momentum. Spokane never experienced that kind of speculative run-up, which means it also hasn’t experienced the hangover.
What This Means for Buyers and Sellers in Spokane Right Now?
Washington’s strong national ranking signals that demand in the state remains real and sustained. For Spokane sellers, that’s reassuring — the wider market isn’t dramatically softening, and out-of-state interest in the region continues to grow. For buyers, Spokane’s position within that picture is genuinely attractive. You’re buying in a state with a healthy overall market, while still accessing prices well below the statewide median.