Uncategorized March 3, 2018

Lynden, WA Real Estate Update

Whether you are thinking of buying or listing Lynden, WA homes for sale, knowing the current market conditions can go a long way towards your success. Both sides of the transaction can use details like average days on market, month supply and sold prices to their advantage. Buyers can use these details to come up with a competitive 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 most important thing you can 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 are we able to guide you through the entire process from start to finish but we can help you navigate any unexpected scenarios that could 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 AND last month. The average sold price for homes for sale in Lynden, WA is up 21.2% at $376,708. The median is up 17.3% at $339,200. The average price per square foot is also up 12.9% 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% and homes for sale in Lynden, Wa being down 19.7%, the inventory is tight. The good news is that pending sales are up 4.6% and closed sales are up 11.7%. The median days on market are down to 19 days. The average days on market is 48. The month supply is still very much in a seller’s market at 2.7. This is down 30.8% 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!