Lynnwood housing prices, sales decline but homes are selling faster

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Lynnwood showed a 0.7 percent decline in home prices and a 8.8 percent drop in in home sales year over year.

But homes sold two weeks faster than they did last year. In addition, 27.3 percent of homes sold were bought by buyers who paid in all cash, according to Redfin, a national real estate brokerage company.

The median price for all homes was $342,000 with the median price $389,000 for single family homes and $290,725 for condos and townhomes. 114 homes sold in the city and homes spent a median 22 days on the market, which is 14 days faster than the same time last year. Data is from March only and reflect an unvarnished, timely snapshot of the market.

  1. I don’t think many working real estate brokers would agree with you that home prices in Lynnwood were lower in March. It is possible that the median home price (middle value or price of homes that sold) could have been fractionally lower but the market remains pretty strong. As long as interest rates stay low and inventory is low, it is pretty certain that prices won’t be going down much. Of course, the last recession taught us that what goes up can come eventually come down. But for now, the long range look seems positive.

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