Lake Stevens Housing Market Report — December 2024

By Brandice Raybourn

Quick Take

Lake Stevens closed out November 2024 with rising prices and a noticeable jump in sales activity.

Home values continued to climb compared to the year before, and the number of homes selling increased significantly. While homes took slightly longer to sell than they did during the most competitive periods, sellers were still receiving strong offers very close to their asking price.

Inventory remained limited, which continued to support home values across most price ranges.

Overall, the Lake Stevens market remained active heading into the end of the year, with both buyers and sellers continuing to participate despite the typical seasonal slowdown.

Lake Stevens Single Family Housing Overview

The median home price in Lake Stevens reached $800K, which was about a 10 percent increase compared to the previous November. That increase shows that home values in the area were still trending upward despite seasonal changes in activity.

Homes took about 25 days to sell on average, which was longer than earlier in the year but still within a fairly normal range. Even with the longer timeline, sellers were still receiving strong offers.

On average, homes sold for about 97.1 percent of their original list price, which suggests buyers were still willing to pay close to asking price for well positioned homes.

There were 55 closed sales, which represented an 83 percent increase compared to the year before. That jump in activity shows that buyers were still entering the market even as the year came to a close.

Inventory remained fairly tight with 65 homes available for sale, which was about 20 percent fewer homes than the previous year. Limited supply like this tends to help support pricing stability.

Price per square foot also continued to climb, reaching about $347, which was roughly a 4 percent increase year over year.

Lake Stevens Market Resale by Price Range

Looking at the market by price range shows where buyers were most active during this period.

The under $650K range saw 12 homes sell, slightly fewer than the year before. Prices in this range averaged around $543K, reflecting continued demand for more affordable homes.

The $650K to $849K range experienced stronger activity with 18 homes sold, an increase compared to the previous year. Prices in this range averaged around $697K, making it one of the most active segments of the Lake Stevens market.

The $850K to $1.149M range showed one of the largest increases in activity. 17 homes sold, which represented a significant jump from the previous year. Prices averaged around $969K, showing steady demand for larger homes in this range.

The $1.15M and above range also saw an increase in activity. 8 homes sold, compared to just 1 sale the previous year. The average price in this range reached about $1.279M, showing growing interest in higher end properties within Lake Stevens.

What This Market Felt Like

This period felt active despite the time of year.

Inventory remained relatively tight, which helped support prices across several price ranges. Buyers were still entering the market, especially when homes were priced realistically and presented well.

While homes took a little longer to sell compared to the fastest periods of the market, demand remained steady.

Lake Stevens continued to show resilience heading into the end of 2024.

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 local market applies to 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