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2011 Market Report for Condos in Lynnwood, Washington
2011 Market Report for Condos in Lynnwood, Washington
Real estate and politics were on a lot of peoples minds this last year. Now that the year is over we can report activity, averages and trends in this 2011 Market Report for Condos in Lynnwood, Washington.
Lynnwood real estate activity was brisk and picking up. The last quarter of 2011 showed an upswing of sales and reduction of inventory. Based on the experience of the Phil Leng Team. it appears the last quarter of 2011 is a trend we can hold on to.
We sold 68 homes in 2011, with an average market time of 49 days. Quite different than the market in general, but we use state-of-the-art marketing and advertising to beat the curve. We make sure our clients' properties are where the buyers are looking.
The overall statistics for Lynnwood are encouraging. Look at the graph below. Sales are down 10% but inventory is down 37%! That means the net sales went up. The Red bar is the number of condos for sale in any given month. The Green bar is the number of condos sold in any given month. Which of these two categories would you want to be in? (Yes, that's a loaded question!) The Red category, or the Green category? If you retain The Phil Leng Team, we will help you get your condo sold! So let's go Green!
The trend of Median Sold Prices in Lynnwood is significantly higher year-over-year. The last quarter of 2011 shows prices trending upward. The median price in this 2011 Market Report for Condos in Lynnwood, Washington has increased 18% year-over-year through the end of 2011.
More good news in Lynnwood: the number of new properties going for sale every month has been steadily decreasing since July 2011. The trend of new listings in this 2011 Market Report for Condos in Lynnwood, Washington planes down 60%. With inventory down and sales up this could be the ideal time for you to put your property on the market with The Phil Leng Team!
The average Days on Market in Lynnwood appears to be rising year-over-year. The graph shows an overall 22% increase in days on the market for 2011. With sales up, inventory down, it would seem a natural genesis that market time would be up a bit.
If you are a serious seller the next graph is more good news. The Months Supply of Inventory in Lynnwood Washington has gone down 58% over the year. However it may not be that much as the data is not seasonally adjusted. But we believe this is a significant positive trend in this 2011 Market Report for Condos in Lynnwood, Washington.
Conclusion: If you are serious about selling or buying a Condo in Lynnwood, hire thePhil Leng Team. We provide the state-of-the-art marketing and research necessary, and have the experience and the track record to help you achieve your real estate goals.
All data for this 2011 Market Report for Condos in Lynnwood, Washington is from the NWMLS and is their property. Accuracy has not been independently verified.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.