Uncategorized June 8, 2018

Bellingham, WA Real Estate Update

Listing or buying homes for sale in Bellingham, WA? The first thing you will want to do is choose a qualified Bellingham, WA realtor with a proven track record. Not only is their knowledge of the local market a great guide for you as a client, but they also act as your advocate from start to beyond the close of escrow. The second step is to find out what is happening in the Bellingham, WA real estate market. Numbers like days on market, month supply and sold prices are a great way to gauge how to move forward as both a buyer and a seller. As a buyer, you will have the knowledge needed to come up with an attractive offer that appeals to sellers. As a seller, you get an idea of what is the best list price and how long you can expect to be active before receiving an offer. When it comes to listing or purchasing homes for sale in Bellingham, WA, the more you know, the better chance you stand to achieve your goals in the hopeful timeframe. Regardless of whether you are listing or purchasing homes for sale in Bellingham, WA, working with a qualified Bellingham, WA Realtor is key because we help you navigate the Bellingham, WA real estate market AND 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!

Sellers continue to get more good news in that prices for homes for sale in Bellingham, WA have continued to go up compared to this time last year. The average sold price for Bellingham, WA real estate is up 5.8% at $400,030. Meanwhile, the median is up 12.7% compared to this time last year at $360,500. The median percentage of list price is still sitting at 100% as it has been for the past few months. This stat is a great tool for figuring out your negotiation power. Currently, buyers will need to be prepared to come up with a competitive offer with the help and guidance of your Bellingham, WA realtor.

As far as inventory goes, buyers can rejoice knowing that new listings are up 2.8%. Unfortunately, Bellingham, WA homes for sale are down 7.7%, pending sales are down 2.5% and closed sales are down 3%. This is all due to real estate in Bellingham, WA being in a seller’s market thanks to a 3.1 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 10 days while the average is 41. 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!