Is Lakewood, WA 98498 a buyer’s or seller’s market?

The Lakewood housing market right now

In the three months ending August 31, 2026, 43% of homes in Lakewood, WA 98498 sold above their list price, the typical home went under contract in 9 days and there were 3.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 106 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 20%, homes sold faster (17 days then) and the median sale price fell 7% to $531,270. Overall, Lakewood is more competitive than a year ago, so tougher for buyers.

Within Pierce County, homes here sell faster than in 85% of the county’s ZIP codes, and sell more often over asking than in 88%. On our competition score, Lakewood ranks #26 of 298 WA ZIP codes with enough sales (score 75 out of 100).

Nearby, buyers who want less competition could look at Mckenna 98558 (0% sold over asking) or Vaughn 98394 (0% sold over asking), while Carbonado 98323 (80% sold over asking) and Tacoma 98418 (55% sold over asking) are even more competitive.