Uncategorized November 21, 2017

Whatcom County Real Estate Monthly Update

If you are interested in listing or buying homes for sale in Whatcom County, making yourself aware of the current market conditions is very important. Sellers should make sure they price their homes for sale in Whatcom County according to the current market values. If homes for sale in Whatcom County are overpriced, they can sit and “grow stale”. Basically, buyers assume there is something wrong with it as it is still available, or they aren’t willing to spend more than market value. If homes for sale in Whatcom County are under priced with the hopes of creating a bidding war, a seller could make less money, depending on how low they go of course. Less than 5% of the current market value is usually recommended for this tactic, however homes for sale in Whatcom County vary. As a buyer, you want to ensure that you are not over paying for homes for sale in Whatcom County.  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 10.9% and is now $305,000. The average increased by 9.7% and is now $333,838. Both the median and average days on the market went down. The median decreased by 37.9% which puts homes from active to pending in 18 days. Meanwhile, the average is down 20.8% at 57. 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 99.4% of the listing price. This basically means that homes are getting very close to asking and in some cases, over. Pending Whatcom County real estate is down 2%, which isn’t a huge deal. Closed homes are up 1.8% while new listings are actually down a bit by 0.5% which isn’t a huge decrease, but we also need the inventory. The price per square foot is up 12.1% at $204. If you are looking for Whatcom County real estate 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. Thankfully, this number has stayed this way for a few months, where as other areas within Whatcom County continue to go down. 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!