Lake Stevens Housing Market Report — April 2025

By Brandice Raybourn

Quick Take

Lake Stevens moved into spring 2025 with strong prices, fast sales, and a big jump in inventory.

Buyers suddenly had more choices, but the homes that were priced correctly were still moving quickly. Sellers were still getting very close to their asking price, which shows demand was still healthy even with more competition entering the market.

This was one of those moments where the market felt active, but slightly different than the year before. More options for buyers started to slow the pace just enough to notice.

Understanding that shift is important.

Lake Stevens Single Family Housing Overview

The median home price in Lake Stevens climbed to $828,750, which was about a 12% increase from the previous year. That tells us buyers were still willing to pay higher prices to secure a home in this area.

Homes were also selling quickly. The average home went pending in about 9 days, which shows that strong listings were still attracting fast attention.

At the same time, something important was happening behind the scenes.

Inventory jumped significantly to 87 homes for sale, which was an 81% increase compared to the year before. That is a meaningful change. Buyers suddenly had far more homes to choose from than they did during the tight inventory conditions of the previous year.

Closed sales came in at 44 homes, which was about 19% lower than the year before. That does not necessarily mean demand disappeared. More often it signals that buyers were being more selective because they finally had choices again.

Homes still sold for 99.6% of the original list price, which means sellers were still receiving strong offers. But it also signals something else.

Buyers were not chasing overpriced homes.

Pricing strategy mattered more once options increased.

Lake Stevens Market Resale by Price Range

Looking at how different price ranges performed helps explain what buyers were actually doing during this time.

The $0 to $649K range remained active but started to slow slightly. Ten homes sold compared to eleven the year before. Even with fewer sales, pricing held steady near $592,500, and price per square foot continued to climb. This range still represented entry level opportunities in Lake Stevens, so demand stayed consistent.

The $650K to $849K range saw the biggest shift in activity. Twelve homes sold compared to twenty four the previous year. Inventory more than doubled in this range, which likely gave buyers more leverage and more time to choose. Prices stayed fairly stable around $712,500, which shows buyers were still willing to purchase but were taking their time.

The $850K to $1.149M range stayed fairly balanced. Sales volume remained steady year over year, and prices held near $900K. Homes in this range saw moderate days on market, which suggests buyers were still active but evaluating options carefully.

The $1.15M and above range saw a noticeable rebound. Nine homes sold compared to just three the year before. The median price climbed to about $1.325M, which shows that higher end buyers were still confident in the Lake Stevens market.

Luxury homes did not disappear. They simply required the right pricing and presentation.

What This Market Felt Like

This was the beginning of a transition.

Inventory was rising quickly, which meant buyers finally had options again. But demand had not disappeared. When the right home hit the market at the right price, buyers still moved fast.

That combination created a more thoughtful market.

Buyers could compare homes. Sellers had to position their homes properly.

Neither side had complete control.

And that is usually when the market starts to feel more balanced.

Thinking About Buying or Selling in Lake Stevens?

If you are thinking about buying or selling in Lake Stevens and want to understand how the market applies to your specific situation, feel free to reach out anytime. I’m always happy to walk through the numbers and help you make sense of what’s happening locally.

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