Uncategorized February 17, 2018

Lynden, WA Real Estate Update

If you are in the market to sell or buy Lynden, WA homes for sale, making sure you know what is happening in the local market is crucial for success. Things like the average and median sold price and days on market can go a long way whether you are a buyer or a seller. As a buyer, you can utilize these details to your benefit and create an enticing offer. As a seller, you can use these numbers to figure out what is a good list price based on what is being spent on comparable real estate in Lynden, WA.  Of course, the first (and most important) thing to do is to choose a Lynden, WA realtor that is experienced and qualified. Especially in a competitive seller’s market like the current one we are in. Not only can we guide you through the entire process, we can help you navigate unexpected scenarios that would otherwise cause a deal to fall apart. 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 from both this time last year. The average sold price for homes for sale in Lynden, WA is up 22.5% at $374,418. This is up $10,000 from just last month.  Meanwhile, the median is up 19% at $336,950. This is up only a couple thousand dollars from last month. The average price per square foot is also up 14.3% at $192. These two stats combined mean 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 0.7% at 99.4%. As this moves closer and closer to 100%, this means more Lynden, WA homes for sale are getting asking price. This of course depends on the property and is usually seen when it comes to “hot buys”, which is real estate in Lynden, WA that is listed at a very competitive price (about 5% less than market value). With new listings down 1.4% and homes for sale in Lynden, Wa being down 20.8%, the inventory is tight. The good news is that pending sales are up 5.7% and closed sales are up 12.8%. The median days on market are down 33.3% at 20 days. The average days on market is down 31.4% at 48. The month supply is still very much in a seller’s market at 2.8. This is down 30% compared to this time last year. 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. Looking for a Lynden, WA realtor? I would be happy to help!