Bellingham, WA Real Estate Update

Listing or buying homes for sale in Bellingham, WA? The best way to get started is by first choosing a qualified Bellingham, WA realtor. The second step is to find out what is happening in the Bellingham, WA real estate market. Statistics like days on market, sold prices and month supply are a great way to gauge how to proceed as both a buyer and a seller. As a seller, you get an idea of what is the best list price and how long you can expect to be active before receiving an offer. As a buyer, you will have the details necessary to come up with an attractive offer that seller’s hope to get. When it comes to listing or purchasing homes for sale in Bellingham, WA, the more you know, the better chance you stand to achieve your goals. Regardless of whether you are listing or purchasing homes for sale in Bellingham, WA, working with a qualified Bellingham, WA Realtor is key because we help you navigate the Bellingham, WA real estate market AND we act as your advocate and guide you through the entire transaction and beyond. So how is Bellingham, WA real estate doing? Let’s take a look!

The good news for sellers is that prices for homes for sale in Bellingham, WA have continued to go up compared to this time last year. However, the average sold price for Bellingham, WA real estate has stayed roughly the same from last month at $397,050. Meanwhile, the median is up 13.4% compared to this time last year AND last month at $359,000. The median percentage of list price is still sitting at 100% as it has been for the past few months. This stat determines negotiation power. Be prepared to come up with a competitive offer with the help and guidance of your Bellingham, WA realtor.

As far as inventory goes, new listings are up by 7.3% while Bellingham, WA homes for sale are down 3.8%, pending sales are down 0.7% and closed sales are down 4.3%. These numbers are pretty similar to last month as well. We can chalk this up to real estate in Bellingham being in a seller’s market thanks to a 3.2 month supply. This is unchanged from last year at this time, but up slightly from last month. Us Bellingham, WA Realtors look for a 6 month supply in order to consider our market balanced. Anything less than 4 is a seller’s market, which we are clearly in. The median days on market is still 11 days while the average is 41. If you are interested in a specific neighborhood or area, let me know. As a Bellingham, WA realtor, I have access to stats from the NWMLS that can tell me what exactly is happening throughout every single area in Washington State. Looking to buy or sell Bellingham, WA homes for sale? I would be happy to help!

Posted on May 8, 2018 at 7:10 pm
Karen Timmer | Category: Uncategorized

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