Is Lynnwood, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lynnwood has remained a Seller's Market.
Key Takeaway
Lynnwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lynnwood, WA
How much do homes in Lynnwood, WA cost?
Median Sold Price
$759,725
$414/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lynnwood have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Lynnwood was $759,725 in May 2024, up 5.3% from last year, and the median price per square foot was $414.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $257.5K | $247.5K | -3.9% |
| 2 Bedrooms | $375K | $425K | +13.3% |
| 3 Bedrooms | $680K | $726.6K | +6.9% |
| 4 Bedrooms | $840K | $854.1K | +1.7% |
| 5+ Bedrooms | $982.6K | $1.1M | +18.3% |
Summary: Lynnwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.9%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 18.3%.
Median Sold Price Compared To Nearby Cities
| Lynnwood | $721.6K | $759.7K | +5.3% |
| Mountlake Terrace | $622.5K | $637K | +2.3% |
| Edmonds | $849.9K | $849.9K | 0.0% |
Housing Supply in Lynnwood, WA
How many homes are available in Lynnwood, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 270 | 336 | +24.4% |
Summary: The Lynnwood real estate market had 336 homes for sale in May 2024, a 24.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 6 | -25.0% |
| 2 Bedrooms | 40 | 45 | +12.5% |
| 3 Bedrooms | 94 | 117 | +24.5% |
| 4 Bedrooms | 73 | 105 | +43.8% |
| 5+ Bedrooms | 55 | 63 | +14.5% |
Summary: The Lynnwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 24.5%, 4 bedroom homes increased by 43.8%, and 5+ bedroom homes increased by 14.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 93 | 96 | +3.2% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
61 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lynnwood, you could pay more than the asking price. 63.5% of homes here sold above asking price last month.
Summary: A total of 96 homes were sold or pending in Lynnwood in May 2024, up by 3.2% month-over-month. Of the 96 sold homes, 11% were sold under asking, 25% were sold at asking, and 64% were sold over asking.
Days on Market for Lynnwood, WA
How long does it take to sell a home in Lynnwood, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 12 Days | -40.3% |
Summary: Homes in Lynnwood had an average of 12 days on market in May 2024, down by 40.3% compared to last year.
Breakdown of Home Sale Times
86 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lynnwood are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 96 homes were sold in Lynnwood; 90% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.