Lynden Real Estate Market Report for May, 2009

The following is a quick analysis of the Lynden real estate market.

• There are currently 137 homes for sale.
• Homes are priced from $184,000 - $1,100,000
• Average Asking Price; $363,285 Days on Market are 122 days
• Median Asking Price: $349,900 Days on Market are 80 days
• Homes sold in May: 10
• Average Listing Price $280,970
• Average Sold Price $268,400 Days on the Market 122
• Median Listing Price $297,450
• Median Sold Price $285,000 Days on Market 78
• Homes Pending last week: 9 Total Homes Pending: 21

The Average Sales price is down 6.4% compared to May 08 and down 4.8% compared to April 09.

The Median Sales prices is up 10.7% compared to May 08 and down 21.3% compared to April 09.

The number of sales is down by 5 compared to May 08 and is down by 2 compared to last month April 09.

Condo Analysis for Lynden

• There are currently 45 condos for sale.
• Condos are priced from $141,000 - $419,000
• Average List Price $235,363 Days on the Market: 169
• Median List Price $229,950 Days on the Market: 105
• Condos Sold in May: 2
• Average List Price: $219,950
• Average Sales Price: $220,200 Days on the Market: 163
• Median List Price: $219,950
• Median Sales Price: $220,200 Days on the Market: 163 P
• Pending Sales Last Week: 1 Total Condos Pending: 2

The Average Sales price is up 3.1% compared to May 08 and up 6.1% compared to April 09.

The Median Sales prices is up 2.5% compared to May 08 and up 22.3% compared to April 09.

The number of sales is down by 4 compared to May 08 and is down by 1 compared to last month April 09.

Buyers: Interest rates are still low making now is a good time to get in the market. There are still plenty of homes to choose from and lots have been on the market a long time so there are some motivated sellers out there who need to sell their homes.

Sellers: There is still a lot of competition right now and if you don't want your home to sit on the market without an offer here are a few bits of advise:

• The most important thing you can do is price your home right, have your real estate agent do a CMA and price your home aggressively, that is in the lower range of similar homes if you want a quick sale
• Have a pre-inspection done to your home and fix any problems
• Give your home curb appeal
• Offer a Home Warranty if it is an older home
• Get rid of clutter, start clearing out your things, even if you have to put them in storage.
• Think about staging your home, get advise from a staging professional or at least your agent.

If you would like some info about Lynden real estate or living in Lynden visit my website at BellinghamProperty.com or give me a call.