Whether you are buying or selling real estate in Lynden, WA, it is crucial to know what the current market conditions are. As a seller you can remain confident that you didn’t price too high or too low. Both of which can backfire. If you price too high, you run the risk of having your property “grow stale”. This essentially means that it sits and potential buyers assume there is something wrong with it. If you price too low in hopes of starting a bidding war, you could leave some money on the table. As a buyer, you just want the reassurance that you didn’t overpay. At the end of the day, a successful Lynden, WA real estate transaction is when both parties feel satisfied and happy with what they received. So how is the local market doing? Just like the current temps, Lynden, WA real estate is staying hot this summer! Let’s take a look.
The good news for home sellers is that Lynden, WA real estate sold prices are up-both the median and the average. After a 14.5% increase, the median is sitting at $315,000 while the average is at $332,154, up 5.9%. This means that if you have been waiting to list in hopes that prices go up and you can make more at resale, now is a good time. Speaking of listings, new listings are up 11.5% which is great for buyers. Pending sales are also up 17.5% for real estate in Lynden, WA while closed sales are up 8%. Days on the market are down, substantially. Which basically means homes are getting and accepting offers quickly. The month supply is also down 7.7% at 3.6. In order for the market to be considered “balanced”, the number we need to see is 6, so we are still definitely in a seller’s market. For more information on real estate in Lynden, WA, give me a call. I would be happy to help!