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LAKEWOOD, WA 98498

Real Estate Market Report
Buyer's Market
February 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 98498

Gravelly Lake · Interlaken · Lake City (Lake City Neighborhood Association) · Lake Louise · Lake Steilacoom · Lakewood · North Fort Lewis (North Fort) · Oakbrook · Ponders Corner · Tillicum (Woodbrook)

Market Analysis

Data as of February 2026. Source: Realtor.com.

The LAKEWOOD, WA real estate market (98498) currently shows 81 active listings, with 26 pending sales. Homes are averaging 77 days on the market before going under contract.

Inventory has increased compared to last year, with 21 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 77 days on market compared to 60 days last year.

The median listing price has risen 0.9% year-over-year, from $557,500 to $562,413.

Whether you are buying or selling in LAKEWOOD, WA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 28,256  ·  Density: 1,097.1/mi²  ·  Median household income: $84,878

Typical home value: $427,751  ·  Homeownership: 60.2%

Market Overview

Active Listings
81
⇧ 35% vs 60 last year
Pending
26
32% pending ratio
Median Price
$562,413
⇧ 0.9% vs $557,500 last year
Average Price
$698,568
⇧ 5.5% vs $662,444 last year
Days on Market
77
⇧ 28.3% vs 60 days last year

Price Per Square Foot

Median $/sqft
$331
⇧ 1.2% vs $327/sqft last year
Median Home Size
1,661 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 81 this year vs 60 last year
  • Days on market: 77 now vs 60 last year

Median & Average Pricing

Year over Year
  • Median: $562,413 (+0.9% YoY)
  • Average: $698,568 (+5.5% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 10.7 miles — 620 listings ($407,053,062 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
98498Lakewood, WA 984980.0 mi80$55,704,560$559,900$696,307
98467University Place, WA 984673.1 mi32$22,176,864$699,000$693,027
98409Tacoma, WA 984095.1 mi47$25,522,222$415,000$543,026
98388Steilacoom, WA 983885.5 mi20$18,891,160$849,950$944,558
98327Dupont, WA 983276.2 mi23$11,495,538$465,000$499,806
98303Anderson Island, WA 983036.8 mi9$5,175,738$510,000$575,082
98418Tacoma, WA 984186.9 mi27$11,129,535$409,995$412,205
98405Tacoma, WA 984057.2 mi60$29,338,380$469,000$488,973
98404Tacoma, WA 984047.8 mi76$36,230,948$450,000$476,723
98403Tacoma, WA 984038.7 mi18$13,720,230$662,450$762,235
98443Tacoma, WA 984439.2 mi10$8,936,060$840,000$893,606
98335Gig Harbor, WA 9833510.0 mi79$87,744,589$934,475$1,110,691
98387Spanaway, WA 9838710.7 mi139$80,987,238$544,950$582,642

Frequently Asked Questions

How many homes are for sale in LAKEWOOD, WA 98498?

As of February 2026, there are 81 active listings in LAKEWOOD, WA (zip code 98498), compared to 60 the prior year.

What is the median home price in LAKEWOOD, WA 98498?

The median listing price in LAKEWOOD, WA 98498 is $562,413 as of February 2026, a 0.9% increase from $557,500 the prior year.

How long do homes stay on the market in LAKEWOOD, WA?

Homes in LAKEWOOD, WA 98498 spend an average of 77 days on the market before going under contract, compared to 60 days the prior year.

Is it a seller's or buyer's market in LAKEWOOD, WA 98498?

Based on current inventory and days-on-market data as of February 2026, LAKEWOOD, WA 98498 is currently a Buyer's Market. Inventory has increased compared to last year, with 21 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 77 days on market compared to 60 days last year.

How much can I save on real estate commission in LAKEWOOD, WA?

With SELL123.com's maximum 3% commission, sellers in LAKEWOOD, WA 98498 save an estimated $11,248 compared to a typical 5% commission on the median listing price of $562,413. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.