Uncategorized December 18, 2017

Bellingham, WA Real Estate Update

If you are thinking of buying or selling Bellingham, WA real estate, knowing the current market conditions can offer wonderful insight. Details like average and median sold prices can give you an idea on a comparable listing price for sellers while letting buyers know if their budget fits with the current market conditions. If you are looking to list or sell homes for sale in Bellingham, WA, working with a qualified Bellingham, WA Realtor is key. We provide past and present market information that can help you navigate our current area successfully.  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. The average sold price for Bellingham, WA real estate is up 11.1% from this time last year at $390,248. What is interesting about this is that this number is actually down by a pretty big amount compared to last month. Meanwhile, the median is up 10.3% compared to this time last year at $342,000, which is actually down compared to last month. The median percentage of list price is still sitting at 100% as it has been for the past couple months. This basically determines a buyer’s negotiation power when it comes to their offer price. In this particular area, most homes for sale in Bellingham, WA are getting asking. So be prepared and speak with your Bellingham, WA realtor about what makes a competitive offer. New listings are up for the first time in a couple months by 1.6%, homes for sale are down 9.8%, pending sales are down 2.9% and closed sales are down 5.7%. 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 actually up from 2.7 last a month. 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 while the average is 44. 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. 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 real estate in Bellingham, WA? I would be happy to help!