Is Now a Good Time to Buy a Home in Lakewood, WA?

If you’re thinking about buying a home in Lakewood, WA, you’re probably asking the same question many local buyers are searching online right now: Is now a good time to buy a home in Lakewood?

The answer depends on your goals, finances, and how today’s Lakewood real estate market compares to past years. As a local Realtor with Windermere Central Sound in Lakewood, I help buyers navigate this decision every day. Below, I’ll break down what’s happening in the market and what buyers should consider right now.

A Snapshot of the Lakewood, WA Real Estate Market

Lakewood continues to be one of the most attractive cities in Pierce County for homebuyers. Its proximity to Joint Base Lewis-McChord (JBLM), Tacoma, and easy highway access make it appealing to military families, commuters, and first-time buyers alike.

Key characteristics of the Lakewood housing market include:

Steady demand from both local and relocating buyers
Limited housing inventory compared to buyer interest
A mix of established neighborhoods and newer developments
Strong long-term value compared to nearby cities

Even when interest rates fluctuate, Lakewood remains a market where well-priced homes continue to attract attention.

Are Home Prices in Lakewood Going Up or Down?

One of the most common questions buyers ask is whether prices are expected to drop.

In Lakewood, home values have shown long-term stability, even during national market shifts. While prices may not rise as rapidly as they did in previous years, they have also avoided major declines. This balance can really work in favor of most buyers.

When price growth slows:

Buyers face less competition
Homes stay on the market longer
Sellers are more open to negotiation

For many buyers, this creates a unique window of opportunity that we hadn’t seen in quite a while.

What Higher Interest Rates Mean for Lakewood Buyers

Interest rates are often the biggest concern for buyers right now. While today’s rates may be higher than historic lows, it’s important to look at the full picture.

Higher rates can:

Reduce buyer competition
Increase negotiating power
Lead to seller-paid closing costs or rate buydowns- lowering up-front, out of pocket costs for new homebuyers.

Many buyers choose to purchase now and refinance later if rates decrease. Waiting for the “perfect” rate can sometimes mean paying more for the home itself, specifically when demand drives up pricing. You have to evaluate your current financial picture, based on today’s rates and pricing, to determine if now is right for you.

Is Lakewood, WA a Good Place to Buy Long-Term?

For buyers thinking beyond the next few years, Lakewood has some strong attributes.

Why buyers choose Lakewood:

Close to JBLM and major employers like Amazon, St. Claire and Western State Hospitals.
Access to parks, lakes, and outdoor recreation- American Lake and Ft. Steilacoom are community favorites.
More affordable than many neighboring cities – you can get more house for your money here! (oh, and probably a larger lot too)
Strong rental demand for investment buyers – JBLM brings in a constant flow of potential tenants. (buy now and rent it later)

These factors contribute to Lakewood’s long-term appeal and help protect home values over time.

Is Now a Good Time for First-Time Homebuyers in Lakewood?

Yes, especially for first-time buyers who are prepared.

Today’s market often provides:

Less pressure to waive inspections
More time to make informed decisions
Opportunities for down payment assistance programs

First-time buyers in Lakewood can benefit from working with a local Realtor who understands neighborhood pricing, lender programs and down payment assistance specific to Pierce County and Washington State. Previously, first-time buyers found themselves in a position where they were competing with other buyers who were not only taking advantage of historically low rates, but also had hefty down payment funds available. Fast forward to today…and we are not seeing the same buyers. Many of those homeowners are feeling locked in to their low interest rate home loans and are still staying put. So, as a first-time buyer today, you’ll likely compete with other first-timers.

When Waiting Might Make Sense

Buying a home is personal, and timing matters.

You may want to wait if:

You plan to move within the next year or two
Your job or income situation is uncertain
You are not comfortable with potentially paying a little more per month

That said, many buyers who wait for “better conditions” find themselves facing higher prices later. The right time to buy is typically when your personal finances align, not when the market feels perfect. Something you’ve likely heard from the real estate industry, is “the right time to buy is always five years ago.” While cliche’, there is some truth to this, but it really boils down to your personal situation. You’re what really matters when deciding if now is the time.

What I’m Seeing as a Local Lakewood Realtor

As a Windermere Central Sound Realtor in Lakewood, I’m seeing:

More negotiation opportunities for buyers and increased seller flexibility
Buyers winning homes while keeping inspection contingencies and favorable terms

These conditions are very different from the highly competitive markets of the past, and giving informed buyers who act strategically opportunities to win. Buyers who previously walked away from the market in frustration are now settling in to their new homes. While sellers may not be giving away homes or selling at deep discounts like a day after Christmas sale, they are more willing to negotiate, bringing much needed balance to our market.

So, Is Now a Good Time to Buy a Home in Lakewood, WA?

For many buyers, yes.

If you:

Plan to stay in the home for several years
Are financially prepared
Want more choices and negotiating power

If you answered “yes” this can be a smart time to buy in Lakewood.

The key is having expert local guidance to help you evaluate neighborhoods, pricing, and timing based on your goals.

Thinking About Buying a Home in Lakewood?

If you’re considering buying a home in Lakewood, Tacoma or a surrounding Pierce County community, I’m here to help you decide if now is the right time for you. Everyone can be a little different.

Lavita Lester-Brinkley
Realtor® | Windermere Central Sound
Lakewood, WA

📞 Let’s talk about your goals, timeline, and what might be available right now in the Lakewood market.

Schedule a meeting with Lavita

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