Is Lynnwood, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lynnwood is a seller's market

Buyer's
Market

Difference Since February 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

$741,370

$404/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$15,120(+2.1%)

Key Takeaway

Homes in Lynnwood have sold for 2.1% more than they did a year ago.

Summary: The median home sold price in Lynnwood was $741,370 in February 2024, up 2.1% from last year, and the median price per square foot was $404.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $245K$265K
+8.2%
2 $361K$425K
+17.7%
3 $699.9K$700K
0.0%
4 $855K$840K
-1.8%
5+ $999.9K$1.0M
+0.6%

Summary: Lynnwood housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.2%, 2 bedroom homes increased by 17.7%, 3 bedroom homes did not change, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 0.6%.

Median Sold Price Compared To Nearby Cities

Lynnwood
+2.1%
Mountlake Terrace
-2.4%
Edmonds
-7.4%

Housing Supply in Lynnwood, WA

How many homes are available in Lynnwood, WA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
171219+28.1%

Summary: The Lynnwood real estate market had 219 homes for sale in February 2024, a 28.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 55
0.0%
2 3030
0.0%
3 5870
+20.7%
4 5270
+34.6%
5+ 2644
+69.2%

Summary: The Lynnwood housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20.7%, 4 bedroom homes increased by 34.6%, and 5+ bedroom homes increased by 69.2%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
4551+13.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

32 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lynnwood, you could pay more than the asking price. 62.7% of homes here sold above asking price last month.

Summary: A total of 51 homes were sold or pending in Lynnwood in February 2024, up by 13.3% month-over-month. Of the 51 sold homes, 14% were sold under asking, 24% were sold at asking, and 63% 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

Feb 2023Feb 2024CHANGE
42 Days13 Days-67.3%

Summary: Homes in Lynnwood had an average of 13 days on market in Feb 2024, down by 67.3% compared to last year.

Breakdown of Home Sale Times

43 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lynnwood are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 51 homes were sold in Lynnwood; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Lynnwood, WA

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