If you are thinking of buying or listing Lynden, WA homes for sale, knowing the current market conditions can be very helpful! Whether it is the average and median sold price, the average days on market or the percentage of list price, these details go a long way in ensuring your success as a seller or a buyer. The details can offer guidance on what to list at or how much to offer based on what is being spent on comparable Lynden, WA homes for sale. Of course, working with a Lynden, WA realtor is necessary for multiple reasons. In addition to being your advocate, they can help you navigate anything that can pop up, like a bad inspection report, issues with funding or even what maintenance person to hire. Additionally, a sellers market can be very competitive which can feel stressful for those trying to buy or sell. As a buyer, you could be up against multiple offers while a seller might be trying to figure out which offer is best for them. This can feel like a lot of pressure to both parties. Typically this year sees a little cool down, however, due to low inventory and high buyer demand, the local market is still hot! Utilizing a qualified Lynden, WA realtor is recommended for a successful transaction. 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 Lynden, WA homes for sale are up for both the median and the average. The average sold price for Lynden, WA real estate is up 10% at $356,298 while the median is up 17.6% at $329,500. It is important to note that these prices are up compared to this time last year as well as just last month. This has been a consistent trend in Lynden, WA real estate for the last few months. The average price per square foot is also up 15.4% at $187. This means that in most scenarios, homes for sale in Lynden, WA have more value compared to this time last year. The median percentage of list price (which basically determines a buyer’s negotiation power) is up 0.6% at 99.3%. As this inches closer and closer to 100%, you can bet that a majority of homes will be getting close to ask price, if not full offer. In some cases, homes for sale in Lynden, WA may get over. This of course depends on the property and is usually seen when it comes to hot buys, which are considered homes for sale in Lynden, WA that are listed at a very competitive price (about 5% less than market value). The good news for buyers is that new listings are up 5.7%, however the amount of homes for sale is down is 15.9%. Pending sales are up 17.3% and closed sales are up 18.1%. 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 32% at 51 while the median days on market is just 22. The month supply is still very much in a seller’s market at 3.1. This is down 24.4% 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 homes for sale in Lynden, WA, working with a qualified Lynden, WA realtor is the best bet for a positive experience.
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