Lynden Real Estate Market Report for August 2008

Lynden Real Estate Market Report for August, 2008

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

• There are currently 149 homes for sale.
• Homes are priced from $169,800 - $1,440,000
• Average Asking Price is $405,161 Days on Market are 118 days
• Median Asking Price is $354,900 Days on Market are 101 days
• Homes sold in August: 10
• Average Listing Price $283,810
• Average Sold Price $275,590 Days on the Market 78
• Median Listing Price $249,900
• Median Sold Price $247,500 Days on Market 59
• Homes Pending last week: 3

Condo Analysis for Lynden

• There are currently 30 condos for sale.
• Condos are priced from $129,900 - $409,950
• Average List Price $232,772 Days on the Market: 148
• Median List Price $233,450 Days on the Market: 107
• Condos Sold in August: 8
• Average List Price: $190,350
• Average Sales Price: $185,527 Days on the Market: 115
• Median List Price: $204,975
• Median Sales Price: $202,000 Days on the Market: 99
• Pending Sales Last Week: 0

Buyers: Interest rates are still low making now 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. More homes will most likely be coming on the market in the coming months as spring and summer arrive.

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.