Paul's Bellingham Blog

My thoughts on Bellingham, the Real Estate market, and more

Review of 2013 Whatcom County Real Estate, Predictions for 2014

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2013 ended up being the strongest year for Real Estate in Bellingham and Whatcom County in 6 years (since 2007). What we saw was a slow but steady growth in both homes sales, and rebounding home values. The spring and summer months were very strong, and then flattened out a bit in the fall and winter.

-Over all for Whatcom County, home sales were up over 5%, compared to 2012, and home values were up 3%.

-Average days on market fell from 93 days to 74 days.

-Bellingham posted even stronger numbers with home sales up by over 10%, and average price of closed sales increasing by 6%.

I believe 2014 will be an even stronger year. January has been very busy, and as long as interest rates stay in the mid to low 4’s, we should be looking at accelerated growth in sales, and in home values (home values are usually slower to increase then sales).

I am predicting sales to be up by another 5-10% this year, and that should push values up a little bit (perhaps 2-6% increase in value depending on location and price range in the county) in the under $500,000 market. $500,000 to $750,000 is becoming a strong market in Bellingham, and the $750,000 and up market is improving but still a little bit soft.

For homes priced under $350,000 in Bellingham, and priced under $250,000 in the county, it is officially a HOT market again. Not quite as “hot”, as the 2005-2006 years, but I would argue a better recovery, because values are increasing slowly, allowing for more sustainable home values.

Above is the average dollar per square foot for home sales in Bellingham, closing out the year at $173 a sq. ft on average. You can see it bounces around, but is clearly trending up. Also note the $155 a sq. ft. average for Decemeber of 2012.. This is a good indicator of values appreciating in Bellingham.

If you’d like more statistics and information on your specific neighborhood, you can contact me by clicking here, or 360-920-5901, or

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