Lake Stevens Housing Market Update

By Brandice Raybourn

When you look at the Lake Stevens housing market as a whole, November 2025 shows a market that is active but clearly more measured than last year. Homes are still selling, but buyers are taking their time, inventory is higher, and pricing strategy matters more than ever.

Citywide, the median sales price dipped slightly compared to last year, while inventory and days on market both increased. Sellers are averaging just under original list price, which reflects a shift away from the fast-paced conditions we saw in prior years. This is not a market that is falling apart, but it is one where buyers are more selective and sellers need to be realistic.

That said, Lake Stevens is not behaving like one single market. Each price range is telling a different story, which is why breaking this down by price point gives a much clearer picture of what buyers and sellers are actually experiencing.

Under $600K — Slowing but Still Competitive

The under $600K segment has noticeably slowed compared to last year. Days on market jumped significantly, and sellers are averaging several percentage points under list price. Price reductions are common in this range right now.

Inventory is still limited for detached single-family homes, which keeps competition steady when something well priced comes on the market. Most available options tend to be older homes that need updates, newer townhomes, or mobile homes on land. Buyers are active, but they are cautious and far less willing to overpay.

$601K–$799K — Steady and Balanced

This price range remains one of the most stable segments of the Lake Stevens market. Closed sales, inventory, and days on market are holding fairly close to last year’s pace.

Homes are taking a bit longer to sell, but sellers are still receiving close to original list price when pricing and condition align. This range offers a solid mix of resale homes and newer construction, which continues to attract buyers looking for value without moving into higher price points.

Overall, this segment reflects a balanced market with consistent activity.

$800K–$1.049M — Cooling with Growing Inventory

The $800K to $1.049M range is showing clear signs of cooling. Inventory has increased substantially, days on market have jumped, and closed sales are lower than last year.

Buyers in this range are more cautious and many are sitting on the sidelines, waiting for either better pricing or clearer value. Sellers are facing more competition and need to be strategic with pricing, presentation, and expectations.

This range includes many well-located homes, larger lots, and higher-end finishes, but demand is more selective than it was previously.

$1.05M–$1.299M — Low Competition, Slower Movement

Homes in this price range are taking significantly longer to go under contract, often stretching beyond three months. Buyer competition is low, and sellers are averaging well below original list price.

The one bright spot here is that median prices are still up year over year, showing that value remains strong for the right properties. However, patience is required on both sides, and pricing accuracy is critical.

$1.15M+ — Unique Homes, Targeted Buyers

At the top end of the Lake Stevens market, inventory includes a wide range of unique properties. Buyers have options, including brand new construction, sprawling estates, waterfront homes, and even properties within Frontier Airpark, offering air rights and runway access in Lake Stevens’ aviation community.

This segment attracts a smaller, more targeted buyer pool. Homes are still selling, but sellers should expect longer timelines and thoughtful negotiation rather than quick multiple-offer scenarios.

The Big Picture

Lake Stevens continues to be a desirable place to live, but the market has shifted into a more thoughtful, value-driven environment. Buyers are no longer rushing, and sellers need to understand where their home fits within today’s conditions, not last year’s headlines.

This is exactly why I analyze the Lake Stevens housing market by price point instead of relying on citywide averages. The experience of buying or selling here depends heavily on price range, property type, and positioning.

If you are thinking about buying or selling a home in Lake Stevens and want to understand how this market applies to your specific situation, I’m always happy to talk it through.

Brandice Raybourn
Coldwell Banker Danforth
Everett Real Estate Broker
425-367-3881
brandice@snohomesbybrandice.com

If you are thinking about relocating to Lake Stevens, check out my community page here: Moving to Lake Stevens, WA? Real Estate Insights with Brandice Raybourn