It's a Sellers' Market in Lynden!Hello Lynden Neighbors:
Fall is approaching and for families like ours in Lynden with school age children, or those of us with young adults at home who are starting post-secondary education, ‘back to school’ has no doubt taken on a whole new meaning!
And while certain things have definitely changed due to COVID, I wanted to reach out again to let you know it hasn’t significantly impacted everything. This is certainly the case with the Lynden housing market.
Presently, the Lynden housing market is a sellers’ market!
While property sales in Lynden did decrease into April, they have steadily increased since May. July’s house inventory of homes on the market is 227 units less than the same time last year. And because inventory is low, multiple offers and properties selling over list price is not uncommon. This was absolutely the case with a recent sale of ours that you can read all about in the right-hand column. Long story short, the very first day on market we had multiple offers over list price, and it sold for $20,500 more than what it was listed for.
The statistics mirror our recent experience too: there was a 30.5% increase in pended properties in July and that was 35.3% higher than July of 2019. What buyers are willing to pay has increased too. The average sold price (ASP) is appreciating in Lynden. In July, the ASP was $484,000 and this is up from July 2019 by 11.3%.
Strong interest from buyers, coupled with low inventory, has created a sellers’ market here in Lynden. If you’re thinking of selling, now is a great time to do so!
The Lynden RE/MAX office on Front Street has reopened, with state-mandated safety protocols in place. While I am working out of the RE/MAX office again, and would be happy to set up an in-person meeting with you, I am also, as always, happy to have a virtual coffee with you, a Zoom meeting, an email or phone conversation, to answer any question – none too little – that you might have. From one Lynden neighbor to another, I am here for you during this time and beyond and look forward to hearing from you soon.
This property we listed on Aaron Drive is a great example of how hot the selling market is presently. The very first day on the market, we received multiple offers over list price. It sold at the end of August for more than $20,000 than it was listed for! I'm here for any questions you may have about listing your Lynden property. I can also help you if your looking to purchase a home. I'm here to help, in anyway I can.
One last look at summer with this picture of the incredible flower displays in downtown Lynden!
Mark Frye Managing Broker
All County Team
RE/MAX Whatcom County
1841 Front St. Lynden WA 98264