Uncategorized December 18, 2017

Whatcom County Real Estate Update

If you are interested in listing or buying homes for sale in Whatcom County, educating yourself on the current market conditions provides valuable insight. 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 lose crucial market time. As a buyer, you want to ensure that you are not over paying for homes for sale in Whatcom County while still creating a competitive offer. 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 market stats. 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% compared to this time last year at $305,000.  This is actually the same from last month. The average increased by 9.9% compared to last year and is up $336,606. This number also happens to be up from last month. Both the median and average days on the market went down. The median decreased by 35.7% which puts homes from active to pending in 18 days. Meanwhile, the average is down 18.6% at 57. These are up compared to last year at this time but roughly the same compared to 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 99.4% of the listing price. This basically means that most homes are getting very close to asking. Pending Whatcom County real estate is down 0.2%, which isn’t a huge deal. Closed homes are down 0.1% while new listings are actually down a bit by 0.3% which isn’t a huge decrease, but we also need the inventory. The price per square foot is up 12% at $205. We are right on the cusp of a buyers and sellers market with a month supply of 4.2. 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!