Bellingham, WA Real Estate Market Report

Listing or buying homes for sale in Bellingham, WA? The first thing you will want to do is choose a qualified Bellingham, WA realtor with a proven track record. Not only is their knowledge of the local market a great guide for you as a client, but they also act as your advocate from start to beyond the close of escrow. The next step is finding out what is happening in the Bellingham, WA real estate market. Numbers like sold prices, days on market, month supply and average percentage of list price are a great way for both a buyers and a sellers to come up with a competitive strategy. 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 knowledge needed to come up with an attractive offer that appeals to sellers. 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 in the hopeful timeframe. Regardless of whether you are listing or purchasing homes for sale in Bellingham, WA, working with a qualified Bellingham, WA Realtor is key, no pun intended. So how is Bellingham, WA real estate doing? Let’s take a look!

Sellers continue to get more good news in that prices for homes for sale in Bellingham, WA have continued to go up compared to this time last year. The average sold price for Bellingham, WA real estate is up 9.7% at $418,180. The median is up 11.9% compared to this time last year at $375,000. The median percentage of list price is still sitting at 100% while the average is at 99%. This number is a great tool for figuring out your negotiation power.

As far as inventory goes, this one is a mixed bag in the categories we follow. New listings are down 1.3%, while the overall amount of Bellingham, WA homes for sale are down 9.4%. Pending sales are up 6% and closed sales are up 3.8%. This is all due to real estate in Bellingham, WA being in a seller’s market thanks to a 2.9 month supply. 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 currently in. The median days on market is 11 days while the average is 41. These numbers are unchanged from last month.

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 October 15, 2018 at 5:42 pm
Karen Timmer | Category: Uncategorized

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