Bellingham, WA Real Estate Monthly Report

Thinking of buying Bellingham, WA real estate? With real estate in the PNW making headlines for the past year, it is truly no surprise. With the outdoor recreation, 4 seasons, close proximity to both nature and city amenities, it makes sense that folks have been eyeing our corner as a place to call home. However, with King County real estate having almost no inventory for the influx of people moving to Seattle and Bellevue, prices have increased and residents have been looking at places to live outside the city. Places as far North as Bellingham, WA real estate. The commute may seem like a hassle, but most folks are not comfortable with an average sold price of over $700,000. Not to mention, Bellingham, WA real estate has been a Seattle residents weekend getaway for some time. So whether you are looking to relocate and buy real estate in Bellingham, WA or you already live in Whatcom County, check out the monthly market report!

The good news for sellers is that sold prices for real estate in Bellingham, WA have continued to go up. The average is up 9.9% at $378,767 while the median is up 8.9% at $331,000. The median percentage of list price is officially at 100%. This basically determines a buyer’s negotiation power when it comes to their offer price. In this particular area, homes are getting asking. So be prepared and speak with your Bellingham, WA realtor about what is an appropriate offer number. New listings are down minimally at 0.9%, homes for sale are down 15.6%, pending sales are down 5.7% and closed sales are down 1.8%. We can chalk this up to real estate in Bellingham being in a seller’s market thanks to a 3.1 month supply. Us Bellingham, WA Realtors look for a 6 month supply in order to consider the market balanced. The median days on market is also just 12 days. As a seller, this means you can expect (in most cases) a quick offer. A buyer should also expect to move quickly and not wait. Time is of the essence in this market!┬áThese numbers are for Bellingham, WA real estate as a whole. So you may be hearing about the folks that just bought a gorgeous new construction home in a sought after neighborhood and paid a pretty penny for it. These numbers include all the single family residential from the affordable small fixer upper to the gorgeous multi million dollar home with water views. If you are interested in a specific neighborhood or area, let me know. As a Bellingham, WA realtor, we have access to stats from the NWMLS that can tell us what exactly is happening throughout every single area in Washington State. Looking to buy or sell in the area? I would be happy to help!

Posted on September 19, 2017 at 6:46 pm
Karen Timmer | Category: Uncategorized

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