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LAKEWOOD, WA 98498

Real Estate Market Report  ·  Pierce County
Buyer's Market
September 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 September 2026. Source: Realtor.com.

The LAKEWOOD, WA real estate market (98498) currently shows 129 active listings, with 26 pending sales. Homes are averaging 56 days on the market before going under contract.

Inventory has increased compared to last year, with 20 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 56 days on market compared to 40 days last year.

The median listing price has risen 6% year-over-year, from $551,850 to $584,988.

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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
129
⇧ 18.3% vs 109 last year
Pending
26
20% pending ratio
Median Price
$584,988
⇧ 6% vs $551,850 last year
Average Price
$698,131
⇧ 3.4% vs $675,275 last year
Days on Market
56
⇧ 40% vs 40 days last year

Price Per Square Foot

Median $/sqft
$313
⇩ 2.2% vs $320/sqft last year
Median Home Size
1,943 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 129 this year vs 109 last year
  • Days on market: 56 now vs 40 last year

Median & Average Pricing

Year over Year
  • Median: $584,988 (+6% YoY)
  • Average: $698,131 (+3.4% 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 — 665 listings ($442,233,366 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
98498Lakewood, WA 984980.0 mi81$56,584,008$562,413$698,568
98467University Place, WA 984673.1 mi32$22,083,520$701,246$690,110
98409Tacoma, WA 984095.1 mi54$28,365,390$399,962$525,285
98388Steilacoom, WA 983885.5 mi25$25,447,575$869,213$1,017,903
98327Dupont, WA 983276.2 mi27$13,654,170$535,985$505,710
98303Anderson Island, WA 983036.8 mi9$5,454,171$550,250$606,019
98418Tacoma, WA 984186.9 mi26$10,553,478$397,688$405,903
98405Tacoma, WA 984057.2 mi63$30,879,135$470,500$490,145
98404Tacoma, WA 984047.8 mi85$42,293,960$480,000$497,576
98403Tacoma, WA 984038.7 mi22$17,089,006$668,725$776,773
98443Tacoma, WA 984439.2 mi13$11,970,608$850,000$920,816
98335Gig Harbor, WA 9833510.0 mi81$88,970,238$887,000$1,098,398
98387Spanaway, WA 9838710.7 mi147$88,888,107$546,238$604,681

Frequently Asked Questions

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

As of September 2026, there are 129 active listings in LAKEWOOD, WA (zip code 98498), compared to 109 the prior year.

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

The median listing price in LAKEWOOD, WA 98498 is $584,988 as of September 2026, a 6% increase from $551,850 the prior year.

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

Homes in LAKEWOOD, WA 98498 spend an average of 56 days on the market before going under contract, compared to 40 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 September 2026, LAKEWOOD, WA 98498 is currently a Buyer's Market. Inventory has increased compared to last year, with 20 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 56 days on market compared to 40 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 $11,700 compared to a typical 5% commission on the median listing price of $584,988. 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.