Uncategorized January 25, 2018

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 10.7% compared to this time last year at $310,000.  This is up by about $5,000 last month. The average increased by 10.8% compared to last year and is up $340,124. This number also happens to be up from last month as well. 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 20% at 56. The median percentage of list price is still at 99.4% of the listing price. This basically means that most homes are getting very close to asking and can be used as a negotiation tool. Pending Whatcom County real estate is down 0.2%, which isn’t a huge deal. Closed homes are down 0.3% while new listings are actually up by 0.7%. The price per square foot is up 13.1% at $199. While up compared to this time last year, it is actually down by $6 compared to last month. We are right on the cusp of a buyers and sellers market with a month supply of 4.2, which we have been holding steady at for about two months now. 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 or neighborhoods within Whatcom County, give me a call at 360-410-0848. My team and I would love to help!