Is Lummi Reservation, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lummi Reservation was a Seller's Market.
Key Takeaway
Lummi Reservation is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lummi Reservation, WA
How much do homes in Lummi Reservation, WA cost?
Median Sold Price
$589,900
$350/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lummi Reservation have sold for 28.2% more than they did a year ago.
Summary: The median home sold price in Lummi Reservation was $589,900 in May 2024, up 28.2% from last year, and the median price per square foot was $350.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $402.5K | $336.5K | -16.4% |
| 2 Bedrooms | $412.5K | $432.5K | +4.8% |
| 3 Bedrooms | $485K | $589.9K | +21.6% |
| 4 Bedrooms | $1.0M | $915K | -14.6% |
| 5+ Bedrooms | - | $1.2M | N/A |
Summary: Lummi Reservation housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.4%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 21.6%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes did not change.
Housing Supply in Lummi Reservation, WA
How many homes are available in Lummi Reservation, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 28 | +21.7% |
Summary: The Lummi Reservation real estate market had 28 homes for sale in May 2024, a 21.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lummi Reservation housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lummi Reservation, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Lummi Reservation in May 2024, down by 50.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Lummi Reservation, WA
How long does it take to sell a home in Lummi Reservation, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 32 Days | +17.3% |
Summary: Homes in Lummi Reservation had an average of 32 days on market in May 2024, up by 17.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lummi Reservation are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Lummi Reservation; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.