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 February 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

$495,000

$303/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$4,327(-0.9%)

Key Takeaway

Homes in Lakewood have sold for 0.9% less than they did a year ago.

Summary: The median home sold price in Lakewood was $495,000 in February 2024, down 0.9% from last year, and the median price per square foot was $303.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $260K$220K
-15.4%
2 $355.7K$340K
-4.4%
3 $476K$468K
-1.7%
4 $605K$560K
-7.4%
5+ $680K$695K
+2.2%

Summary: Lakewood housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.4%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes increased by 2.2%.

Median Sold Price Compared To Nearby Cities

Lakewood
-0.9%
Tacoma
-1.1%
University Place
-2.1%
Steilacoom
-3.8%
Fort Lewis-DuPont
-3.8%

Housing Supply in Lakewood, WA

How many homes are available in Lakewood, WA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
122128+4.9%

Summary: The Lakewood real estate market had 128 homes for sale in February 2024, a 4.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 32
-33.3%
2 1925
+31.6%
3 5453
-1.9%
4 3136
+16.1%
5+ 1512
-20.0%

Summary: The Lakewood housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 31.6%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3031+3.3%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

12 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. 38.7% of homes here sold above asking price last month.

Summary: A total of 31 homes were sold or pending in Lakewood in February 2024, up by 3.3% month-over-month. Of the 31 sold homes, 29% were sold under asking, 32% were sold at asking, and 39% 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

Feb 2023Feb 2024CHANGE
51 Days49 Days-2.9%

Summary: Homes in Lakewood had an average of 49 days on market in Feb 2024, down by 2.9% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Lakewood has remained consistent over time.

Summary: During February 2024, 31 homes were sold in Lakewood; 32% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 23% 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 28 Days Ago

Newest Listings in Lakewood, WA

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