Analyzing Homes Eligible for the Down Payment Resource Program: Listing Data & Market Trends
Northwest MLS brokers have access to the Down Payment Resource (DPR) program, which connects homebuyers with various down payment assistance programs to help them purchase homes. The DPR program generates a list of potential assistance programs depending on the buyer’s housing and financial criteria.
This program is integrated into the Northwest MLS database, making it easy for NWMLS brokers to see if listings are eligible for financial assistance. Buyers working with NWMLS brokers can also quickly see if a property is eligible for down payment assistance programs within the OneHome client portal.
Let's take a look in the NWMLS database (which contains hundreds of thousands of listings, dating back to the 1990s) to see how many houses and condos were eligible for down payment assistance in 2023, and where to find them.
Number of DPR Eligible Listings in 2023
Of the 56,366 houses sold by NWMLS brokers in 2023, 42,817 were eligible for down payment assistance – that’s over 75 percent! Even more condominiums were eligible for down payment assistance. Out of a total of 8,654 condos sold by NWMLS brokers in 2023, 7,872 were eligible, representing over 90 percent!
Median Sale Prices in 2023
The Median Sale Price for all homes sold by NWMLS brokers in 2023 was $625,000 while the Median Sale Price for homes that were eligible for down payment assistance was slightly lower at $549,950. The Median Sale Price for all condominiums sold by NWMLS brokers was $465,000 compared to $443,000 for condos that were eligible for down payment assistance.
Counties with the Most DPR Eligible Listings
The most DPR eligible houses and condos in 2023 were found in King County, with 10,038 homes sold and 4,536 condos sold.
Cities with the Most DPR Eligible Listings
The city with the most DPR eligible houses and condos sold in 2023 was Seattle with 3,697 homes and 1,975 condos.
Data for all reported MLS residential & condo sales during 2023 in Washington state.
Looking for a Broker?
If you are looking to buy a home and could use help with your down payment, contact me today to begin your journey to homeownership!
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