Is Lynnwood, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Lynnwood was a Neutral 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
$732,500
$403/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Lynnwood have sold for 0.9% more than they did a year ago.
Summary: The median home sold price in Lynnwood was $732,500 in November 2023, up 0.9% from last year, and the median price per square foot was $403.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $266.5K | +8.8% |
| 2 Bedrooms | $355.5K | $420K | +18.1% |
| 3 Bedrooms | $700K | $699.9K | 0% |
| 4 Bedrooms | $875K | $840K | -4.0% |
| 5+ Bedrooms | $1.0M | $981.3K | -2.5% |
Summary: Lynnwood housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 18.1%, 3 bedroom homes did not change, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 2.5%.
Median Sold Price Compared To Nearby Cities
| Lynnwood | $726.2K | $732.5K | +0.9% |
| Edmonds | $894.9K | $816.3K | -8.8% |
| Mountlake Terrace | $704.6K | $630K | -10.6% |
Housing Supply in Lynnwood, WA
How many homes are available in Lynnwood, WA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 199 | 181 | -9.0% |
Summary: The Lynnwood real estate market had 181 homes for sale in November 2023, a 9.0% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 29 | 29 | 0.0% |
| 3 Bedrooms | 93 | 82 | -11.8% |
| 4 Bedrooms | 51 | 46 | -9.8% |
| 5+ Bedrooms | 24 | 22 | -8.3% |
Summary: The Lynnwood housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.8%, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 68 | 64 | -5.9% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lynnwood, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.
Summary: A total of 64 homes were sold or pending in Lynnwood in November 2023, down by 5.9% month-over-month. Of the 64 sold homes, 28% were sold under asking, 38% were sold at asking, and 34% 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
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 31 Days | 19 Days | -37.1% |
Summary: Homes in Lynnwood had an average of 19 days on market in Nov 2023, down by 37.1% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lynnwood are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 64 homes were sold in Lynnwood; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 3% 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 © 2023 Northwest MLS. All rights reserved.