Uncategorized May 21, 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 that both buyers and sellers can maximize for their benefit. While each town, and neighborhood, within Whatcom County has their own set of market stats, knowing the general numbers can be a great indication of what is happening over all. 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 that sellers consider enticing. Sellers can use the information to 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 time on the market. 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. Mixed with years of experience, these aspects can create a transaction for you that is not only successful but flows seamlessly. 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 average increased by 8.1% compared to this time last year and is up $345,486. The median increased by 10.7% compared to this time last year at $320,000. Both the median and average days on the market went down. The median and average days on market stayed the same from last month at 17 (median) and 57 (average) but are down compared to last year at this time. The median percentage of list price is still at 99.6%, which it has been for a few months now. This number is used as a tool to determine negotiation and means that most homes are getting very close to asking or not over in some scenarios.

As far as inventory goes, everything is up except for the overall homes for sale in Whatcom County. New listings are up 5.6%, pending Whatcom County real estate is up 3.3% and closed Whatcom County homes for sale are up 0.5%. The price per square foot is up 11.1% at $210. We are right on the cusp of a buyers and sellers’ market with a month supply of 4.1. Anything less than 4 is considered a seller’s market while a balanced marked needs a 6 month supply. 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!