Lake Stevens Home Prices Are Going Wild This Year!

Prices Are Up, But The Market Is Leveling

In June, the median home price in Lake Stevens was just under $750,000, up 3.1% month-over-month. The average home price hit $827,000, a 6.5% jump. But if we zoom out and look at the rolling 12-month data, prices are showing signs of softening, especially in the upper-end and new construction segments.

Inventory Is Rising, But This Isn’t a Crash

New listings surged by 31.7% last month, and total homes for sale rose 44.4%. Despite what the media loves to say, this is not a sign of collapse. It’s a return to a more normal, pre-COVID market. We’re seeing competition increase among sellers, but there are still buyers out there — just fewer of them as rates hover around 7%.

Supply and Demand Shift Slowly

Pending sales are down 13.6%, and closed sales are holding steady. The average home is taking 21 days to sell. Months of supply has climbed to 3.5, putting us firmly in a balanced but cooling seller’s market. Still, this is a far cry from the 13 months of inventory we saw during the 2008 crash.

Where Deals Might Be Hiding

The percent of original list price is sitting around 98%, right at the historical average. Some buyers are still getting small discounts, and some homes are still seeing bidding wars. Price per square foot last month was $388. If you're an investor or savvy buyer, sort by low price per square foot and high days on market — that’s where the potential deals live.

Sellers, Be Strategic

Homes are taking longer to sell, and buyers are negotiating more. This doesn’t mean you can’t sell — it means you need a great strategy. If your Lake Stevens home is priced too high or poorly marketed, it will sit. Get specific, get accurate, and don’t rely on wish pricing.

Buyers and Investors: This Window Won’t Stay Open

With rates high, buyers can still find opportunity — but deal season is slowly closing. When rates start trending down, activity will pick up and competition will return. If you're serious about buying or investing in Lake Stevens, now is the time to act before the next wave of buyers enters the market.

Final Thought

This market update looks at Lake Stevens as a whole. If you’re buying, selling, or investing, your specific property or neighborhood could tell a different story. Reach out if you want to dig into the numbers for your home or investment.