Is Lynnwood, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Lynnwood has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $245K | $265K | +8.2% |
2 Bedrooms | $361K | $425K | +17.7% |
3 Bedrooms | $699.9K | $700K | 0.0% |
4 Bedrooms | $855K | $840K | -1.8% |
5+ Bedrooms | $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 | $726.2K | $741.3K | +2.1% |
Mountlake Terrace | $655.3K | $639.5K | -2.4% |
Edmonds | $884.5K | $819.4K | -7.4% |
Housing Supply in Lynnwood, WA
How many homes are available in Lynnwood, WA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
171 | 219 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 30 | 30 | 0.0% |
3 Bedrooms | 58 | 70 | +20.7% |
4 Bedrooms | 52 | 70 | +34.6% |
5+ Bedrooms | 26 | 44 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
45 | 51 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
42 Days | 13 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
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.