Homeowner Report For Lynnwood, WA: How Much Is YOUR Home Worth?
Sales, Prices, and Predictions… Everything you need to know for the month of DECEMBER 2021.
Before you know it, Christmas and New Year will be upon us… is the Lynnwood real estate market going into hibernation? Let’s find out!
#1 – We are still in a strong seller’s market. But median home prices are up just $6,000 since last month – now reaching a new average price of $655,000. This is a SMALLER increase than last month, but the market is still up. We are tapering off and the expert’s DON’T predict that prices will keep growing as quickly as they did last year, but the market IS still Appreciating. (or maybe I should say, “inflating…” more on that later.) Click the link if you’d like to learn how much your home is worth right now.
In the city of Lynnwood alone, we sold 1674 properties last month – only 25 fewer than in October, but only has 3.5% of that number on the market for sale at any one time. On average only 60 homes were for sale at any given time. That means homes are flying off the shelves and it’s VERY competitive for buyers in our area. The last listing I sold in Lynnwood had over 20 offers and set a new price record for the Red Oaks neighborhood where it was located.
#2 – Interest rates are still near 3%, but as they go up, it will mean decreased affordability. So if you’re looking to buy a new property, it might be a good time to run some numbers and we can work together to plan that transition.
Making a move is a big decision and I can help you get it done. My name is Emily with HomeSmart Real Estate Associates and as a real estate professional, I study home prices every day.
As the market keeps going up, it’s extremely challenging to know how much your home is worth. Because of this, I want to make a special offer – only for those who watch this video. I want to give you the opportunity for a custom one-on-one home evaluation. We’ll get together over the phone, on a video conference call, or in person and go through exactly what your home would be worth if you were to sell it now.
Click the link below and you’ll be taken to a page where you’ll tell me about your home and then have the opportunity to schedule a time to connect with me for a custom 1-on-1 home evaluation. Simply click the link below to discover your home’s true potential.
Now it’s time for…
#3 Emily’s predictions for the Lynnwood housing market in 2022
The biggest issue I want to put on your radar is INFLATION… Prices are going up and re-setting at new levels, so it’s important to be prepared for that.
With the combination of Inflation and Appreciation we’ve been experiencing, we’ve seen home prices shoot up 21.3% in Lynnwood over the last 12 months. And your median-priced home should be worth about $100K more this year than it was worth last year! Nice work if you can get it! With inflation breathing down our necks, Economists recommend those who will do best will be highly leveraged and own hard assets. If you want to move into something bigger or re-deploy your equity into an investment property, we can help.
This is Emily Cressey with HomeSmart Real Estate – thanks so much for joining me and look for our monthly home price predictions right here, next month.