Seattle Culture
Buying a Home With Cash? Not in Seattle.
Buyers here have the lowest rate of all-cash transactions in the U.S.
By Rob Smith March 1, 2025
Maybe it’s because of escalating prices, but homebuyers in Seattle use all-cash purchases less than any other major city in the U.S.
Seattle-based Redfin reports that only 18.8% of Seattle homebuyers made all-cash transactions in December. Nationally, 31% of buyers purchase homes using all cash. The median down payment in Seattle, however, is 20%, or 4 percentage points higher than the national average. Zillow says the median home price in Seattle last month was about $850,000, or 6.5% higher than last year.
The Northwest Multiple Listing Service — which tracks two-thirds of the state’s 39 counties, including King, Pierce and Snohomish — says the market is picking up, but that “affordability remains questionable.”
NMLS says condo and home sales were up 10.8% in January compared to January 2024.
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