Is Lakewood, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$490,000
$304/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Key Takeaway
The sold price of homes in Lakewood has remained the same since last year.
Summary: The median home sold price in Lakewood was $490,000 in May 2024, the same as last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242.5K | $225K | -7.2% |
| 2 Bedrooms | $350K | $340K | -2.9% |
| 3 Bedrooms | $465K | $475K | +2.2% |
| 4 Bedrooms | $577K | $565K | -2.1% |
| 5+ Bedrooms | $655K | $724.1K | +10.6% |
Summary: Lakewood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.2%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 10.6%.
Median Sold Price Compared To Nearby Cities
| University Place | $615K | $635K | +3.3% |
| Tacoma | $454.5K | $465.5K | +2.4% |
| Fort Lewis-DuPont | $515.1K | $526.2K | +2.2% |
| Lakewood | $490K | $490K | 0.0% |
| Steilacoom | $699.5K | $650K | -7.1% |
Housing Supply in Lakewood, WA
How many homes are available in Lakewood, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 175 | 184 | +5.1% |
Summary: The Lakewood real estate market had 184 homes for sale in May 2024, a 5.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 24 | 29 | +20.8% |
| 3 Bedrooms | 76 | 75 | -1.3% |
| 4 Bedrooms | 56 | 63 | +12.5% |
| 5+ Bedrooms | 16 | 15 | -6.3% |
Summary: The Lakewood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 20.8%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 57 | 51 | -10.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakewood, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.
Summary: A total of 51 homes were sold or pending in Lakewood in May 2024, down by 10.5% month-over-month. Of the 51 sold homes, 20% were sold under asking, 39% were sold at asking, and 41% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 22 Days | +5.7% |
Summary: Homes in Lakewood had an average of 22 days on market in May 2024, up by 5.7% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lakewood are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 51 homes were sold in Lakewood; 78% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.