Uncategorized June 17, 2018

Whatcom County Real Estate Update

If you have been thinking about selling or buying homes for sale in Whatcom County, you will want to do a little homework before you start the process. The first thing you will need to do is find a qualified and professional Whatcom County realtor. Once you have found someone you trust to guide you through the process, you will want to find out what the current Whatcom County real estate statistics are. Now, it is important to know that each town and each neighborhood within that town has their own market. So while Bellingham’s average sold price is around $400,000, that number may be different than Whatcom County real estate. 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. 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. Knowing the current market conditions is why the use of a Whatcom County realtor is so necessary. We use a tool that comes straight from the NWMLS that provides an accurate picture of what is currently happening. So how is Whatcom County real estate doing? Let’s take a look!

Both the median and average sold prices for homes for sale in Whatcom County real estate went up compared to last month as well as this time last year. The average sold price for homes for sale in Whatcom County increased by 7.3% compared to this time last year and is up $347,255. The median increased by 11% compared to this time last year at $322,000. Both the median and average days on the market went down. The median days on market is 17 and the average is 55. 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 your negotiation power 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 2.2%, pending Whatcom County real estate is up 1% and closed Whatcom County homes for sale are up 1.2%. The price per square foot is up 10.9% at $214. We are right on the cusp of a buyers and sellers’ market with a month supply of 4. Anything less than 4 is considered a seller’s market while a balanced marked needs a 6 month supply. If you are looking for stats specific to certain towns or neighborhoods within Whatcom County or a Whatcom County realtor, give me a call at 360-410-0848. My team and I would love to help!