Uncategorized May 2, 2018

Lynden, WA Real Estate Update

If you are thinking about buying or listing Lynden, WA homes for sale, you came to the right spot! Knowing the current market conditions are so necessary for your success. Both buyers and sellers can benefit by knowing details like average days on market, month supply and sold prices. 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. Buyers can use these details to come up with a competitive offer. Of course, the most important thing you can do is to choose a Lynden, WA realtor that is experienced and qualified. Not only can we provide this information for you, but we guide you through the entire process and 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 17.2% at $380,525. The median is up 13.8% at $344,000 compared to this time last year. The average price per square foot is also up 8.5% at $192, which is also up slightly from last month. The median percentage of list price (which basically determines both parties’ negotiation power) is up 0.5% at 99.4%. As this moves closer and closer to 100%, this means more Lynden, WA homes for sale are getting asking price, if not over. Of course, every property is unique, and this is usually a common scenario when it comes to “hot buys”. Hot buys are known as real estate in Lynden, WA that is listed at a very competitive price (about 5% less than market value).

As far as the inventory goes, new listings are down 4.7% and homes for sale in Lynden, WA are down 16%, which means things are still tight. The good news is that pending sales are up 3.7% and closed sales are up 8.8%. The median days on market are down to 20 days. The average days on market is 49. The month supply is still very much in a seller’s market at 2.8, which has been the magic number for the past couple months. 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 summer 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!