Lake Stevens Housing Market Report — January 2025

By Brandice Raybourn

Quick Take

Lake Stevens closed out 2024 with steady prices, quick sales, and continued demand across multiple price ranges.

Prices edged up slightly compared to the year before, homes continued to move quickly, and sellers were still receiving their full asking price in many cases. At the same time, inventory increased just enough to give buyers a few more options heading into the new year.

While some markets slowed during the winter months, Lake Stevens remained fairly active.

Buyers were still purchasing homes when the right property came along, and sellers who priced correctly were still seeing strong results.

Lake Stevens Single Family Housing Overview

The median home price in Lake Stevens reached $760K, which was about a 2 percent increase compared to the previous December. While that is a modest increase, it shows that home values were holding steady heading into the new year.

Homes also continued to sell quickly. The average property spent about 14 days on the market, which is relatively fast for the winter season.

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

Inventory increased slightly as well. There were 76 homes for sale, which represented about an 8 percent increase compared to the previous year. More homes on the market can give buyers additional choices, but it did not slow the pace of the market significantly at this point.

Closed sales totaled 43 homes, which was a small decrease from the previous year but still reflects consistent activity in the local market.

Price per square foot also increased to about $372, which was roughly a 16 percent increase year over year, reinforcing that buyers were still paying strong prices for homes in Lake Stevens.

Lake Stevens Market Resale by Price Range

Looking at activity by price range helps show where buyers were most active.

The under $650K range remained active with 15 homes sold, which was the same number of sales as the year before. Prices in this range rose to around $615K, showing continued demand for more affordable homes.

The $650K to $849K range remained the most active area of the market. 13 homes sold, and prices averaged about $760K. This range continues to attract many buyers because it represents the middle of the Lake Stevens housing market.

The $850K to $1.149M range saw 9 homes sell, which was a decrease from the previous year. However, prices increased to about $1.049M, showing buyers were still willing to pay higher prices for larger or more updated homes.

The $1.15M and above range experienced one of the more noticeable changes. 6 homes sold, compared to just 1 sale the year before. That increase suggests growing interest in higher end properties within the Lake Stevens market.

What This Market Felt Like

This period felt steady and competitive.

Buyers were still active, especially when homes were priced appropriately and presented well. Sellers who came to the market with realistic pricing were still seeing strong interest and quick offers.

Inventory was beginning to rise slightly, but not enough to slow demand significantly.

Overall, Lake Stevens entered 2025 with a fairly balanced but still active housing market.

Thinking About Buying or Selling in Lake Stevens?

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

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