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 the beginning to beyond the close of escrow. The next step is finding out what is happening in the Bellingham, WA real estate market. Numbers like sold prices, days on market, month supply and average percentage of list price are a great way for both a buyers and a sellers to come up with a competitive strategy. As a seller, you know what is the best list price based on comparable solds and how long homes are on the market before getting an offer. As a buyer, you will have the knowledge needed to come up with an attractive offer that appeals to sellers. 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, no pun intended. So how is Bellingham, WA real estate doing? Let’s take a look at the numbers from TrendGraphix!
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 7% at $457,000. The average active listing price is up 8.7% at $688,000. It is important to note that this is for Bellingham as a whole. Also, it is important to note the large gap between what homes for sale in Bellingham, WA are listed at and what they are actually selling for. The average percentage of list price is at 96%. This number is a great tool for figuring out your negotiation power.
As far as inventory goes, the categories we look at are all down compared to this time last year. The amount of Bellingham, WA homes for sale is down 9.2%, the pendings are down 3% and the solds are down 30.3%. It is important to note that not only is this time of year slower, but the month supply is also incredibly low. It is currently at 2. Anything less than 4 is a seller’s market while anything over 6 is considered balanced. When the market has low inventory, these numbers are generally lower. The days on market are also up to 51, which is a 6.3% increase compared to this time last year.
If you are interested in a specific neighborhood or area, let me know. As a Bellingham, WA realtor, I have access to 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!