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There are many benefits to purchasing a newly-constructed home or condo. With all new everything, from appliances and flooring to plumbing and electrical, new construction is a popular choice for those who are seeking a turn-key home. NWMLS brokers have access to a huge database of available properties and can quickly and easily find new construction homes or condos in their client’s desired area.
We’ve taken a look at the NWMLS database (which contains hundreds of thousands of listings, dating back to the 1990s) to look at few new construction property trends in the Pacific Northwest.
New Construction Numbers
Of the 60,557 houses sold by NWMLS brokers in 2024, 8,824 were new construction, representing 14.5% of all residential listings sold. The percentage of newly constructed condominiums sold in 2024 was slightly lower at 13.8%, with 1,294 new condos out of a total of 9,357 condos sold.
Where to Find New Construction
Seattle had the most new construction, with 1,348 homes and 586 condos sold in 2024. Of the top ten cities for new construction, Kirkland was by far the most expensive with a Median Sale Price of $1,899,000 for homes and $1,555,000 for condos. New homes in Bremerton were the most affordable, and Lacey was the place to find the least expensive new-construction condos in 2024.
| City | Houses Sold | Median Price |
|---|---|---|
| Seattle | 1,348 | $849,950 |
| Port Orchard | 401 | $579,995 |
| Marysville | 394 | $739,990 |
| Bothell | 301 | $1,284,950 |
| Bonney Lake | 288 | $724,129 |
| Bremerton | 258 | $527,950 |
| Everett | 227 | $803,655 |
| Snohomish | 226 | $749,995 |
| Kirkland | 222 | $1,899,000 |
| Tacoma | 221 | $579,900 |
| City | Condos Sold | Median Price |
|---|---|---|
| Seattle | 586 | $795,000 |
| Lynnwood | 109 | $1,249,950 |
| Kirkland | 100 | $1,555,000 |
| Redmond | 97 | $1,031,555 |
| North Bend | 65 | $639,900 |
| Everett | 60 | $792,685 |
| Bothell | 52 | $926,725 |
| Marysville | 37 | $573,682 |
| Lacey | 26 | $404,950 |
| Shoreline | 26 | $725,803 |
New Construction Cost
If you are looking to purchase a brand-new home or condo, expect to pay higher prices than the market average. In 2024, the Median Sale Price for new-construction homes was $730,833, while for homes that were not new construction, it was $650,000. Brand-new condos demanded even higher prices in 2024 with a Median Sale Price of $829,990 compared to the Median Sale Price of $462,000 for condos that were not new.
Data for all reported MLS residential & condo sales during 2024 in Washington state.
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