Is Lakewood, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lakewood is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Lakewood has remained a Seller's Market.

Key Takeaway

Lakewood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lakewood, WA

How much do homes in Lakewood, WA cost?

Median Sold Price

$510,000

$307/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$30,008(+6.3%)

Key Takeaway

Homes in Lakewood have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in Lakewood was $510,000 in September 2024, up 6.3% from last year, and the median price per square foot was $307.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $220K$265.5K
+20.7%
2 $341.4K$338K
-1.0%
3 $464.4K$495K
+6.6%
4 $584.7K$608K
+4.0%
5+ $687.5K$702.5K
+2.2%

Summary: Lakewood housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.7%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 2.2%.

Median Sold Price Compared To Nearby Cities

Lakewood
+6.3%
Tacoma
+5.5%
Fort Lewis-DuPont
+3.6%
University Place
+2.8%
Steilacoom
-11.3%

Housing Supply in Lakewood, WA

How many homes are available in Lakewood, WA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
189208+10.1%

Summary: The Lakewood real estate market had 208 homes for sale in September 2024, a 10.1% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 33
0.0%
2 2932
+10.3%
3 82102
+24.4%
4 5749
-14.0%
5+ 1822
+22.2%

Summary: The Lakewood housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 24.4%, 4 bedroom homes decreased by 14%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
50500.0%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lakewood, you could pay more than the asking price. 38% of homes here sold above asking price last month.

Summary: A total of 50 homes were sold or pending in Lakewood in September 2024, the same as the previous month. Of the 50 sold homes, 26% were sold under asking, 36% were sold at asking, and 38% were sold over asking.

Days on Market for Lakewood, WA

How long does it take to sell a home in Lakewood, WA?

Average Sale Time

Sep 2023Sep 2024CHANGE
17 Days30 Days+69.6%

Summary: Homes in Lakewood had an average of 30 days on market in Sep 2024, up by 69.6% compared to last year.

Breakdown of Home Sale Times

31 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lakewood are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 50 homes were sold in Lakewood; 62% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings in Lakewood, WA

Nearby Markets to Lakewood, WA

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