24/7 Wall St. Insights
- Rising demand and limited supply have driven U.S. home prices up by nearly 4% so far in 2024.
- In many popular coastal areas, price increases have far exceeded the national average.
- In Washington, however, not all oceanfront housing markets align with the broader trend.
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The United States has nearly 12,400 miles of coastline, more than all but seven other countries globally. Many coastal communities along the Atlantic and Pacific Oceans, as well as the Gulf of Mexico, are among the most popular places to live in the country.
Across the 50 states, there are more than 3,200 counties and county equivalents — and though fewer than 8% of them are located along an ocean, these coastal areas are home to nearly 30% of the U.S. population. Between 1970 and 2020, the population of coastal counties climbed by more than 40 million, according to the National Oceanic and Atmospheric Administration
While demand for real estate on or near an ocean has climbed in recent decades, available waterfront acreage is inherently limited. With rising demand and fixed supply, many coastal communities are reporting skyrocketing home prices — a reflection of the nationwide housing shortage and ongoing affordability crisis.
Though home prices have fallen slightly in recent months, the housing market is still generally more expensive today than it was at the beginning of the year. According to data from Realtor.com, the typical American home was listed for $425,000 in September 2024, a $15,500, or 3.8%, increase from the median list price in January 2024.
In Washington, one of 23 U.S. states located along an ocean, home prices have climbed even faster than average. Among the 29,396 homes statewide that were on the market in September 2024, the median list price was $649,949, about 6.4% higher than in January. Notably, however, not all housing markets in coastal Washington have followed this trend.
Of the 39 counties in Washington with available housing market data, 14 border the Pacific Ocean or an estuary. In some of these places, home prices have climbed by more than 10% in 2024. In other coastal counties, price increases have been far more modest — and in two, a typical home is cheaper now than it was at the beginning of the year. (Here is a look at the most affordable housing market in each state.)
It is important to note that median list prices vary between $415,000 to $1,350,000 in these counties as of September 2024, the most recent month of available data. And while some of these housing markets may be only modestly more expensive, or even cheaper, than they were at the beginning of the year, they are not necessarily affordable areas for a broad range of budgets. (Here is a look at the cities where most homes cost less than $125,000.)
These are the coastal counties in Washington where home prices have climbed or fallen the most in 2024. All 14 oceanfront counties in the state, with available data from Realtor.com, are ranked on the percent change in median list price from January to September 2024.
Why It Matters
In recent years, limited supply and rising demand have fueled a surge in home prices. This year alone, the list price of a typical American home has climbed by about 3.8%. In many popular coastal areas, the same supply and demand dynamics that led to the ongoing housing affordability crisis have been even more pronounced. In Washington, however, not all oceanfront housing markets have gotten more expensive in 2024.
14. Island County
- Change in median home list price in 2024: +15.7% (+$111,000)
- Median home list price in January 2024: $708,500 ($97,550 more than statewide median)
- Median home list price in September 2024: $819,500 ($169,551 more than statewide median)
- Median size of a listed home in September 2024: 2,107 square feet (135 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 436 (1.5% of all listed homes in Washington)
- Population: 86,510
13. Jefferson County
- Change in median home list price in 2024: +12.0% (+$82,775)
- Median home list price in January 2024: $689,225 ($78,275 more than statewide median)
- Median home list price in September 2024: $772,000 ($122,051 more than statewide median)
- Median size of a listed home in September 2024: 2,085 square feet (113 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 175 (0.6% of all listed homes in Washington)
- Population: 33,006
12. Kitsap County
- Change in median home list price in 2024: +10.5% (+$62,968)
- Median home list price in January 2024: $599,495 ($11,455 less than statewide median)
- Median home list price in September 2024: $662,463 ($12,514 more than statewide median)
- Median size of a listed home in September 2024: 2,110 square feet (138 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 1,078 (3.7% of all listed homes in Washington)
- Population: 275,411
11. Clallam County
- Change in median home list price in 2024: +10.0% (+$59,787)
- Median home list price in January 2024: $598,963 ($11,987 less than statewide median)
- Median home list price in September 2024: $658,750 ($8,801 more than statewide median)
- Median size of a listed home in September 2024: 2,146 square feet (174 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 359 (1.2% of all listed homes in Washington)
- Population: 77,333
10. Snohomish County
- Change in median home list price in 2024: +9.9% (+$72,499)
- Median home list price in January 2024: $732,250 ($121,300 more than statewide median)
- Median home list price in September 2024: $804,749 ($154,800 more than statewide median)
- Median size of a listed home in September 2024: 2,050 square feet (78 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 2,454 (8.3% of all listed homes in Washington)
- Population: 828,337
9. Mason County
- Change in median home list price in 2024: +4.6% (+$21,550)
- Median home list price in January 2024: $463,663 ($147,287 less than statewide median)
- Median home list price in September 2024: $485,213 ($164,736 less than statewide median)
- Median size of a listed home in September 2024: 1,680 square feet (292 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 390 (1.3% of all listed homes in Washington)
- Population: 66,053
8. Wahkiakum County
- Change in median home list price in 2024: +4.2% (+$25,775)
- Median home list price in January 2024: $618,725 ($7,775 more than statewide median)
- Median home list price in September 2024: $644,500 ($5,449 less than statewide median)
- Median size of a listed home in September 2024: 2,001 square feet (29 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 45 (0.2% of all listed homes in Washington)
- Population: 4,476
7. Grays Harbor County
- Change in median home list price in 2024: +3.8% (+$15,100)
- Median home list price in January 2024: $399,900 ($211,050 less than statewide median)
- Median home list price in September 2024: $415,000 ($234,949 less than statewide median)
- Median size of a listed home in September 2024: 1,502 square feet (470 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 605 (2.1% of all listed homes in Washington)
- Population: 75,672
6. King County
- Change in median home list price in 2024: +3.5% (+$28,775)
- Median home list price in January 2024: $812,475 ($201,525 more than statewide median)
- Median home list price in September 2024: $841,250 ($191,301 more than statewide median)
- Median size of a listed home in September 2024: 1,765 square feet (207 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 7,312 (24.9% of all listed homes in Washington)
- Population: 2,254,371
5. San Juan County
- Change in median home list price in 2024: +3.2% (+$41,250)
- Median home list price in January 2024: $1,308,750 ($697,800 more than statewide median)
- Median home list price in September 2024: $1,350,000 ($700,051 more than statewide median)
- Median size of a listed home in September 2024: 2,140 square feet (168 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 195 (0.7% of all listed homes in Washington)
- Population: 18,001
4. Skagit County
- Change in median home list price in 2024: +0.6% (+$4,387)
- Median home list price in January 2024: $694,613 ($83,663 more than statewide median)
- Median home list price in September 2024: $699,000 ($49,051 more than statewide median)
- Median size of a listed home in September 2024: 1,972 square feet (in-line with statewide median)
- Number of homes for sale in September 2024: 472 (1.6% of all listed homes in Washington)
- Population: 129,480
3. Pierce County
- Change in median home list price in 2024: +0.3% (+$2,000)
- Median home list price in January 2024: $627,000 ($16,050 more than statewide median)
- Median home list price in September 2024: $629,000 ($20,949 less than statewide median)
- Median size of a listed home in September 2024: 2,099 square feet (127 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 3,174 (10.8% of all listed homes in Washington)
- Population: 918,993
2. Pacific County
- Change in median home list price in 2024: -0.1% (-$250)
- Median home list price in January 2024: $425,000 ($185,950 less than statewide median)
- Median home list price in September 2024: $424,750 ($225,199 less than statewide median)
- Median size of a listed home in September 2024: 1,520 square feet (452 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 280 (1.0% of all listed homes in Washington)
- Population: 23,396
1. Whatcom County
- Change in median home list price in 2024: -1.8% (-$12,250)
- Median home list price in January 2024: $698,750 ($87,800 more than statewide median)
- Median home list price in September 2024: $686,500 ($36,551 more than statewide median)
- Median size of a listed home in September 2024: 1,857 square feet (115 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 940 (3.2% of all listed homes in Washington)
- Population: 226,523
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