Uncategorized April 18, 2018

Bellingham, WA Real Estate Update

If you are thinking of listing or buying homes for sale in Bellingham, WA, knowing what is happening in the market can offer valuable insight that you can utilize to your benefit. Details like average and median sold price along with days on market, and percentage of list price can help guide you on crafting a competitive offer as well as which one to accept. Regardless of whether you are listing or purchasing homes for sale in Bellingham, WA, working with a qualified Bellingham, WA Realtor is key. We not only help you navigate the Bellingham, WA real estate market, but we act as your advocate and guide you through the entire transaction and beyond. 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, not just from last year at this time, but also just last month. The average sold price for Bellingham, WA real estate is up 8.6% from this time last year at $397,664. This is actually down compared to last month. Meanwhile, the median is up 12.4% compared to this time last year at $355,000, which is not only up from last year but last month. The median percentage of list price is still sitting at 100% as it has been for the past few months. This stat 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 to come up with a competitive offer with the help and guidance of your Bellingham, WA realtor. New listings are up by 4.9% while Bellingham, WA homes for sale are down 6%, pending sales are down 1.3% and closed sales are down 3.8%. These numbers are pretty similar to last month as well. We can chalk this up to real estate in Bellingham being in a seller’s market thanks to a 3 month supply. Us Bellingham, WA Realtors look for a 6 month supply in order to consider our market balanced. Anything less than 4 is a seller’s market, which we are clearly in. The median days on market is also just 11 days while the average is 41. As a seller, this means you can expect (in most cases) a quick offer. A buyer should also expect to move quickly and not “sleep on it”. If you are interested in a specific neighborhood or area, let me know. As a Bellingham, WA realtor, I have access to stats from the NWMLS that can tell me what exactly is happening throughout every single area in Washington State. Looking to buy or sell Bellingham, WA homes for sale? I would be happy to help!