If you are thinking of buying or selling Lynden, WA real estate, knowing the current market conditions is very important for a successful transaction. These details ensure that a seller prices according to market conditions while a buyer feels confident they didn’t overpay for their home for sale in Lynden, WA. Of course, working with a Lynden, WA realtor is necessary for multiple reasons, but in addition to being your advocate, they can help you navigate the market. One thing that is very important to know for this time of year is that just because we are going into the colder months, doesn’t mean Lynden, WA real estate is going to cool down as well. While we have to wait and see what the market does, the low inventory and high buyer demand mixed with the fact that we are still very much in a seller’s market, indicates that homes should still move quickly. The market could slow during the last month of the year as folks focus on the holidays, however, that is to be determined. So how is real estate in Lynden, WA doing? Let’s take a look!
The good news for seller’s is that the sold price for homes for sale in Lynden, WA are up for both the median and the average. The average sold price for real estate in Lynden, WA is up 7.2% at $347,387 while the median is up 16.1% at $325,000. These prices are both up compared to this time last year as well as just last month. The average price per square foot is also up 16.9% at $187. This means that in most scenarios, a seller’s home for sale in Lynden, WA has more value compared to this time last year. The percentage of list price (which basically determines a buyer’s negotiation power) is up 0.8% at 98.6%, which is actually down compared to just last month, although not by a lot. The good news for buyers is that new listings are up 4.5%, however the amount of homes for sale is down is 13.6%. Pending sales are up 17.6% and closed sales are up 19.8%. The median days on market are down 31.3% at 22 days, which is actually up one day from last month. The average days on market is down 34.2%. The month supply is still very much in a seller’s market at 3.2. This is down 22% compared to this time last year, and down a little bit even compared to last month. In order for a market to be considered balanced, it needs a 6 month supply. Whether or not Lynden, WA real estate will catch up with that need over the course of the next few months remains to be seen. If you are looking to list or buy real estate in Lynden, WA, working with a qualified Lynden, WA realtor is the best bet for a positive experience.
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