Bellingham, WA Real Estate Update

Thinking of buying or selling Bellingham, WA real estate? Knowing the current market conditions can help guide you as far as what to expect like what is a comparable listing price, if your buying budget lines up with the current  average sold price for the area, how many days are homes sitting on the markets and so much more. Of course, when you work with a Bellingham, WA realtor, they can give you all this info as well as work as your advocate as you navigate the market. So how is the current market looking? Let’s take a look!

The good news for sellers is that sold prices for real estate in Bellingham, WA have continued to go up. The average is up 9.3% from this time last year at $381,482 (this is also up last month from $378,767) while the median is up 8.8% at $335,000. Which is also up from last month as well as this time last year. 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 1.8%, homes for sale are down 13.7%, pending sales are down 5.7% and closed sales are down 4.9%. We can chalk this up to real estate in Bellingham being in a seller’s market thanks to a 3.2 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 11 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! These 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 high price point. 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 October 24, 2017 at 6:21 pm
Karen Timmer | Category: Uncategorized

Lynden, WA Real Estate Update

If you are thinking of buying or selling Lynden, WA real estate, knowing the current market conditions is very important for a successful transaction. These details ensure that a seller prices according to market conditions while a buyer feels confident they didn’t overpay for their home for sale in Lynden, WA. Of course, working with a Lynden, WA realtor is necessary for multiple reasons, but in addition to being your advocate, they can help you navigate the market. One thing that is very important to know for this time of year is that just because we are going into the colder months, doesn’t mean Lynden, WA real estate is going to cool down as well. While we have to wait and see what the market does, the low inventory and high buyer demand mixed with the fact that we are still very much in a seller’s market, indicates that homes should still move quickly. The market could slow during the last month of the year as folks focus on the holidays, however, that is to be determined. So how is real estate in Lynden, WA doing? Let’s take a look!

The good news for seller’s is that the sold price for homes for sale in Lynden, WA are up for both the median and the average. The average sold price for real estate in Lynden, WA is up 7.2% at $347,387 while the median is up 16.1% at $325,000. These prices are both up compared to this time last year as well as just last month. The average price per square foot is also up 16.9% at $187. This means that in most scenarios, a seller’s home for sale in Lynden, WA has more value compared to this time last year. The percentage of list price (which basically determines a buyer’s negotiation power) is up 0.8% at 98.6%, which is actually down compared to just last month, although not by a lot. The good news for buyers is that new listings are up 4.5%, however the amount of homes for sale is down is 13.6%. Pending sales are up 17.6% and closed sales are up 19.8%. The median days on market are down 31.3% at 22 days, which is actually up one day from last month. The average days on market is down 34.2%. The month supply is still very much in a seller’s market at 3.2. This is down 22% compared to this time last year, and down a little bit even compared to last month. In order for a market to be considered balanced, it needs a 6 month supply. Whether or not Lynden, WA real estate will catch up with that need over the course of the next few months remains to be seen. If you are looking to list or buy real estate in Lynden, WA, working with a qualified Lynden, WA realtor is the best bet for a positive experience.

Looking for a Lynden, WA realtor? I would be happy to help!

Posted on October 20, 2017 at 7:34 pm
Karen Timmer | Category: Uncategorized

Why Millennials Choose To Buy Lynden, WA Real Estate

“Millennials” and “real estate” are two terms that seem to go together like peanut butter and jelly lately. Everywhere we are seeing articles on the two. While it may seem like other demographics are getting left out, millennials make up for one of the largest groups of people looking to buy real estate in Lynden, WA. Which makes sense. After all, this includes the late 20’s and early 30’s age groups. This is about that time in life when people have graduated from college, they have chosen their career and they are looking to find a stable place that also provides equity. There are also some other reasons why they choose to buy Lynden, WA real estate. Check them out here.

1.) One of the biggest reasons millennials are choosing to buy real estate in Lynden, WA right now is so they have control over their living space. When you rent, you just don’t get the leeway that you do when you pay the mortgage. I mean, you pay a mortgage anyway, you may as well be able to decide how to decorate or redo the home you are living in, right?

2.) Along with having control, you also have flexibility in your decisions regarding the future. When you own Lynden, WA real estate, your monthly housing cost basically works as a savings account you can tap into later. Which is perfect during times that may feel financially uncertain.

3.) Millennials also view living in Lynden, WA real estate as a way to be plugged into the local community. When your home value is directly tied to your neighborhood and town, you can’t help but be more aware and get involved.

4.) Living in a nicer home is another reason millennials are buying. Whether you buy a nicer home or renovate as time goes on, the goal is to upgrade.

5.) A sense of security is another driving factor. Both with knowing how much your payments are going to be each month AND who is coming to your home.

Are you looking to buy real estate in Lynden, WA? Give me a call, I would be happy to help!

 

Posted on September 19, 2017 at 7:25 pm
Karen Timmer | Category: Uncategorized

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! These 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

Why You Should Sell Lynden, WA Real Estate This Fall

If you are thinking of selling your Lynden, WA real estate this fall, the experts are suggesting that you should! In a balanced market, spring and summer is usually considered the best time to list your home for sale in Lynden, WA. There seems to be a higher demand and people are on summer vacation and they want to get their family settled before the school year. However, with real estate in Lynden, WA being in a seller’s market, demand isn’t likely to halt anytime soon. In fact, let’s take a look at why the experts suggest that Fall is a great time to list.

Demand Is Still High

The National Association of Realtors recently released the Buyer Traffic Report which shows that the demand to purchase is strong and steady throughout the entire country. Lynden, WA real estate specifically is at a 3.3 month supply, which is very much a seller’s market. This is optimal for those listing their home for sale in Lynden, WA as it means that there are plenty of qualified buyers looking to purchase.

 

There Isn’t As Much Competition Now

With a majority of the United States having less than the needed 6 month supply for a balanced housing market, there are just not enough homes for sale to satisfy the buyer demand. Add in that most people who don’t HAVE to sell usually remove their home during the holidays, a seller will have less competition than normal. This can result in bidding wars depending on the Lynden, WA real estate in question. If you want the most bang for your buck, don’t wait to see if your home value increases over time. More inventory is expected to flood the market within the next year AND mortgage interest rates are expected to increase, which can impact the amount of buyers in the market.

The Process Will Be Quicker

Thanks to real estate in Lynden, WA being in a seller’s market, buyers have been forced to get all their ducks in a row before they even start looking at homes for sale in Lynden, WA. This means they are getting pre-approved first and are making bids immediately. This speeds up the buying process. In fact the time that it takes, on average, to close a loan has decreased to just 43 days.

There Will Never Be a Better Time to Buy That Dream House

Interestingly enough, luxury real estate in Lynden, WA is still in a buyer’s market. Which means that you can get that dream home for a better price compared to if you wait. With prices expected to appreciate 5% over the course of the next year, you could pay more in both down payment and mortgage payment if you wait.

 

For more information on selling your home, give me a call. I would be happy to help!

Posted on September 19, 2017 at 6:08 pm
Karen Timmer | Category: Uncategorized

Lynden, WA Real Estate Report

If you are thinking of buying or selling Lynden, WA real estate, knowing the current market conditions is crucial for a successful transaction. These details ensure that as a seller, you don’t price incorrectly while a buyer feels confident they didn’t overpay for their home for sale in Lynden, WA. Of course, working with a Lynden, WA realtor is necessary for multiple reasons, but they can help you navigate the market. One thing that is very important to know for this time of year is that just because we are going into the colder months, doesn’t mean Lynden, WA real estate is going to cool down with the temperatures. While we have to wait and see what the market does, as only time will tell, the low inventory and high buyer demand mixed with the fact that we are still very much in a seller’s market, indicates that homes should still move quickly. The market could slow during the last month of the year as folks focus on the holidays, however, that is to be determined. So how is real estate in Lynden, WA doing? Let’s take a look!

The good news for seller’s is that the sold price for homes for sale in Lynden, WA are up for both the median and the average. The average sold price for real estate in Lynden, WA is up 7.6% at $342,073 while the median is up 16.2% at $323,000. This means that in most scenarios, a seller’s home for sale in Lynden, WA has more value than this time last year. The percentage of list price (which basically determines a buyer’s negotiation power) is up 0.4% at 99.1%. The good news for buyers is that new listings are up 6.9%, however the amount of homes for sale is down is 11.2%. Pending sales are up 21.8% and closed sales are up 19.2%. The median days on market are down 40% at 21 days. The month supply is still very much in a seller’s market at 3.3. This is down 17.5% compared to this time last year. In order for a market to be considered balanced, it needs a 6 month supply. Whether or not Lynden, WA real estate will catch up with that need over the course of the next few months remains to be seen. If you are looking to list or buy real estate in Lynden, WA, working with a qualified Lynden, WA realtor is the best bet for a positive experience.

Looking for a Lynden, WA realtor? I would be happy to help!

Posted on September 19, 2017 at 5:43 pm
Karen Timmer | Category: Uncategorized

How To Start A Bidding War

If you are looking to sell your Lynden, WA real estate, you likely are hoping to sell fast and are open to the idea of a bidding war. After all, it is a current trend in real estate markets across the nation. Supply is low, demand is high and with prices rising along with mortgage rates, people want to get into a home NOW. If you want to sell your Lynden, WA real estate with multiple bids and hopefully over asking, discuss these 3 tips with your Lynden, WA realtor.

Price Your Home To Move

This is slightly different compared to pricing per the market conditions. Pricing your real estate in Lynden, WA to move is decreasing the listing price by a small percentage. When you price per the market conditions, you are pricing based on comparable sales in the area. Market conditions are usually determined by market demand which is essentially what people are willing to pay. Pricing your Lynden, WA real estate a little bit lower can feel a bit risky as you don’t want there to be any thing left on the table. However! This is psychology 101: Buyers love the idea of a good deal. If your home is priced a little lower compared to the competition, there is a good chance the people who are looking for a home for sale in Lynden, WA will make an offer on yours before other similar ones that are priced higher.

Set a Deadline, Also Known As An Offer Review Date

This is not a move that is for everyone, and really depends on the market. If your home for sale in Lynden, WA has showings lined up before you even hit the market, this could be a good strategy. Just like the above tip, people don’t like to miss out on a good opportunity. When you set a deadline or an offer review date, it motivates buyers who are serious to get an offer in on your house. Keep in mind that if your home is overpriced, this could backfire. In fact, this should only apply to real estate in Lynden, WA that is priced appropriately or even slightly lower then market value. This is a huge trend with our neighbors in King County. The demand is so high that a majority of new listings are setting an offer review date. While this hasn’t become the norm in Whatcom County like it has there, we usually do see trends migrate this way from our friends down South at some point.

Spice Up The Listing Photos

Professional photographs are a must when it comes to listing a home for sale in Lynden, WA. However, instead of doing the same old boring shots, request photos that show different angles of the house. This shows off how the home flows as well as creates the opportunity to stand out and not get lost in the sea of houses.

Of course, every home is unique so it is crucial to consult your Lynden, WA realtor to find out if these steps would be appropriate for you. For more information, give me a call at 360-410-0848.

Posted on August 23, 2017 at 3:06 pm
Karen Timmer | Category: Uncategorized

Bellingham Real Estate Market Report

If you are interested in selling or buying real estate in Bellingham, WA, knowing the current market conditions is crucial. As a seller, you want to make sure you price your home for sale in Bellingham, WA according to the current market demands. If you overprice, your home can sit and be stigmatized by buyers as having something wrong with it. If you under price in hopes of creating a bidding war, you may end up making less money. As a buyer, you want to ensure that you are not  over paying for a Bellingham, WA home for sale.  Knowing the current market conditions is why the use of a Bellingham, WA realtor is so necessary. We have a tool that comes straight from the NWMLS that provides accurate stats of current market trends. Let’s take a look at the current Bellingham, WA real estate market.

Both the median and average home prices for Bellingham, WA real estate went up compared to last month as well as this time last year. The median increased by 8.3% and is now $325,000. The average increased by 15.4% and is now $384,687. Both the median and average days on the market went down. The average decreased by 17.5% which puts homes from active to pending in 47 days. The median has gone down 40.9% which puts homes going from active to pending on average at 13 days. This is not only down substantially from last year, but even last month. It is important to note that even if 1 property has been sitting too long, it can throw the entire average off. The median percentage of list price saw a small increase with a report of homes getting 100.1% of the listing price. This basically means that homes are getting asking and in some cases, over. Pending homes for sale in Bellingham, WA are down 6.8%, which isn’t a huge increase. Closed homes are down 1.4%, which is up a little bit compared to not only this time last year, but also last month. Price per square foot is up 12% at $214. The amount of new listings is actually down a bit by 1.8% which isn’t a huge decrease, but we also need the inventory. If you are looking for real estate in Bellingham, WA we think you will agree with this. Now, we are definitely in a sellers market with a month supply of 3.1. Additionally, the amount of total homes for sale has had a 17.6% decrease, which we don’t love. Bellingham, WA realtors hope that folks thinking of selling their real estate in Bellingham, WA will do so soon so that we can satisfy buyer needs. If you are looking for stats specific to certain areas within Bellingham, WA, give me a call at 360-410-0848. My team and I would love to help!

Posted on August 22, 2017 at 7:55 pm
Karen Timmer | Category: Uncategorized

Whatcom County Real Estate Market Report

If you are interested in selling or buying real estate in Whatcom County, knowing the current market conditions is crucial. As a seller, you want to make sure you price your home for sale in Whatcom County according to the current market demands. If you overprice, your home can sit and be stigmatized by buyers as having something wrong with it. If you under price in hopes of creating a bidding war, you may end up making less money. As a buyer, you want to ensure that you are not  over paying for a Whatcom County home for sale.  Knowing the current market conditions is why the use of a Whatcom County realtor is so necessary. We have a tool that comes straight from the NWMLS that provides accurate stats of current market trends. Let’s take a look at the current Whatcom County real estate market.

Both the median and average home prices for Whatcom County real estate went up compared to last month as well as this time last year. The median increased by 9.3% and is now $295,000. The average increased by 11.8% and is now $329,707. Both the median and average days on the market went down. The median decreased by 37.5% which puts homes from active to pending in 20 days. The average has gone down 18.9% which puts homes going from active to pending on average at 60 days. It is important to note that even if 1 property has been sitting too long, it can throw the entire average off. The median percentage of list price saw a small increase with a report of homes getting 99% of the listing price. This basically means that homes are getting very close to asking and in some cases, over. Pending homes for sale in Whatcom County are up 0.8%, which isn’t a huge increase. Closed homes are up 4.5%, which is up a little bit compared to not only this time last year, but also last month. Price per square foot is up 11.3% at $197. The amount of new listings is actually down a bit by 1.1% which isn’t a huge decrease, but we also need the inventory. If you are looking for real estate in Whatcom County we think you will agree with that statement. Now, we are right on the cusp of a buyers and sellers market with a month supply of 4.3. Additionally, the amount of total homes for sale has had a 17% decrease, which we don’t love. Whatcom County realtors hope that folks thinking of selling their real estate in Whatcom County will do so soon so that we can satisfy buyer needs. If you are looking for stats specific to certain towns within Whatcom County, give me a call at 360-410-0848. My team and I would love to help!

Posted on August 22, 2017 at 6:57 pm
Karen Timmer | Category: Uncategorized

Lynden, WA Real Estate Market Update

Whether you are buying or selling real estate in Lynden, WA, it is crucial to know what the current market conditions are. As a buyer, you just want the reassurance that you didn’t overpay. As a seller you can remain confident that you didn’t price too high or too low. Both of which can backfire. If you price too high, you run the risk of having your property sit too long which can cause potential buyers to assume there is something wrong with it. If you price too low in hopes of starting a bidding war, you could leave some money on the table.  At the end of the day, a successful Lynden, WA real estate transaction is when both parties feel satisfied with what they received. So how is the local Lynden, WA real estate market doing? Let’s take a look.

The good news for home sellers is that Lynden, WA real estate sold prices are up-both the median and the average. After a 15.1% increase, the median is sitting at $319,900 while the average is at $336,780, up 7.0% this time last year (and up a bit from last month!). This means that if you have been waiting to list in hopes that prices go up and you can make more at resale, now is a good time. New listings are up 7% which is great for buyers as any bump is appreciated in this kind of tight market. Pending sales are also up 20.9% for real estate in Lynden, WA while closed sales are up 17%. Days on the market are down, substantially, for both median and average. The median is down 43.2% at 21 days while the average is down 45.1% at 45 days. Which basically means homes are getting and accepting offers quickly. The month supply is also down 12.5% at 3.5. In order for the market to be considered “balanced”, the number we need to see is 6, so we are still definitely in a seller’s market. For more information on real estate in Lynden, WA, give me a call. I would be happy to help!

Posted on August 22, 2017 at 6:48 pm
Karen Timmer | Category: Uncategorized

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