Lake Stevens Housing Market Report — October 2024

By Brandice Raybourn

Quick Take

The Lake Stevens housing market in October 2024 showed a mix of price adjustments and continued demand.

Prices pulled back compared to the year before, but homes were still selling quickly and sellers were still receiving full asking price on average. Buyers were clearly still active in the market, and when the right home came along it did not sit long.

At the same time, price per square foot continued to rise, which suggests buyers were still willing to pay strong values for homes in the area.

This was one of those moments where the headline numbers might look like a slowdown, but the actual experience in the market still felt competitive.

Lake Stevens Single Family Housing Overview

The median home price in Lake Stevens came in at $727,500, which was about an 11 percent decrease compared to the previous year. While that drop may look significant, the rest of the market data tells a more balanced story.

Homes were still selling quickly. The average property spent about 15 days on the market, which was actually 17 percent faster than the previous year. Faster sales timelines usually signal that buyers are still actively competing for homes.

Sellers were also receiving strong offers. On average, homes sold for 100 percent of their original list price, which shows that well priced homes were still attracting serious buyers.

Closed sales totaled 48 homes, which was the same number of homes sold the previous year. That level of consistency suggests buyer demand remained steady despite the price adjustment.

Price per square foot increased to about $345, which represented roughly a 10 percent increase year over year. That metric often reflects the true underlying value buyers are paying for homes.

Inventory remained fairly steady with 91 homes for sale, which was slightly lower than the previous year.

Lake Stevens Market Resale by Price Range

Looking at the market by price range gives a clearer picture of where buyers were most active.

The under $550K range saw 4 homes sell, fewer than previous years. Prices averaged around $509K, and homes in this category tended to sell quickly when they were available.

The $550K to $749K range was one of the more active areas of the market with 23 homes sold. Prices averaged about $646K, making this one of the more accessible price points for many buyers in Lake Stevens.

The $750K to $999K range saw 15 homes sell, with average prices around $825K. While slightly fewer homes sold compared to the year before, this range continued to represent a large portion of the local market.

The $1M and above range remained active as well with 8 homes sold, showing that higher priced homes still had buyers willing to step into the market when the right property became available.

What This Market Felt Like

This period felt competitive even with the price adjustment.

Homes were still moving quickly, buyers were still writing offers, and sellers who priced realistically were still seeing strong interest.

The slight drop in the median sales price likely reflected shifting inventory and buyer preferences rather than a true decline in demand.

Overall, Lake Stevens continued to show steady activity heading into the fall season.

Thinking About Buying or Selling in Lake Stevens?

If you are thinking about buying or selling in Lake Stevens and want to understand what these numbers mean for your specific situation, feel free to reach out anytime. I am always happy to talk through the market and help you understand what is happening locally.

Brandice Raybourn
Real Estate Broker
brandice@snohomesbybrandice.com
425-367-3881
www.snohomesbybrandice.com