Lake Stevens Housing Market Report — March 2025

By Brandice Raybourn

Quick Take

Lake Stevens started early 2025 with a mix of strong demand and shifting inventory.

Prices softened slightly compared to the previous year, but homes were still selling quickly and buyers were actively competing for well priced listings. At the same time, inventory was climbing, giving buyers more choices than they had seen in a while.

This is one of those moments where the numbers can look mixed on the surface, but when you zoom out the market still felt very active.

Buyers were moving fast when the right home appeared, and sellers who priced properly were still getting strong results.

Lake Stevens Single Family Housing Overview

The median sales price in Lake Stevens came in at $750K, which was about 6 percent lower than the previous year. Even with that dip, the underlying value of homes remained strong.

Price per square foot actually increased to $370, which was about an 11 percent jump year over year. That tells us buyers were still willing to pay strong prices for homes that were updated, well located, or move in ready.

Homes also continued to sell quickly. The average home went pending in just 7 days, which is still extremely fast, especially during the late winter months.

Inventory was starting to rise though. There were 62 homes for sale, which represented a 72 percent increase from the previous year. Buyers suddenly had more options to choose from, and that change often shows up before anything else in the market.

Closed sales totaled 27 homes, which was about 37 percent lower than the year before. That does not necessarily mean demand disappeared. Often it means buyers are taking a little more time to compare homes once inventory increases.

Homes still sold for 100 percent of their list price, which shows sellers were still negotiating from a strong position when their homes were priced correctly.

Lake Stevens Market Resale by Price Range

Looking at how each price range performed helps explain what buyers were doing during this time.

The under $650K range slowed significantly. Only 5 homes sold compared to 9 the previous year and 21 two years ago. Even with fewer sales, prices held near $625K, which suggests buyers were still active but had limited inventory to choose from.

The $650K to $849K range continued to represent a large portion of the Lake Stevens market. 11 homes sold, down from the previous year. Prices averaged around $710K, and price per square foot increased to about $388, showing steady demand in this mid range.

The $850K to $1.149M range saw fewer homes sell as well, with 5 sales compared to 15 the year before. Even with fewer transactions, prices actually climbed to about $1.087M, showing that buyers in this range were still willing to pay higher prices for the right property.

The $1.15M and above range remained small but active. 4 homes sold, which was an increase compared to the previous year. The average sales price reached about $1.25M, showing continued interest from higher end buyers.

What This Market Felt Like

This period felt like the early stages of a market shift.

Inventory was rising quickly, which gave buyers more breathing room than they had during the tighter markets of previous years. But demand was still there.

When a home showed well and was priced correctly, buyers still moved quickly.

That balance created a more thoughtful market where buyers compared homes more carefully and sellers needed to be strategic with pricing and presentation.

Lake Stevens was still moving, but the pace was beginning 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 what these numbers mean for your specific situation, feel free to reach out anytime. I’m always happy to talk through the market and help you understand your options.

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