A washing machine appliance includes a wash tub defining a wash chamber, a wash basket rotatably mounted within the wash tub, and a motor operably coupled to the wash basket for selectively rotating the wash basket. A controller is configured for accelerating the wash basket to a predetermined speed during an acceleration period and maintaining that speed during a steady state period. The controller further determines a power drop from the maximum power required to accelerate the wash basket to the power required to maintain the predetermined speed, and the dry load weight is calculated using this power drop and a transfer function.