Lynnwood's real estate market is experiencing a price correction, with values down 7.6% from last year. Home prices have increased 4.6% in the past month alone. With 33 active listings, inventory is 154% higher than seasonal norms. Transaction volume is up 54% compared to what's typically expected this time of year. A significant 51.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. The majority of homes (53.5%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the Lynnwood market with the affordability index at 137.0. Based on current market indicators, home prices in Lynnwood are projected to decrease by approximately 17.5% over the next month.