Paul's Bellingham Blog

Market stats for Bellingham and Whatcom County are out, and there is some positive and negatives to take from the numbers. On the positive, we saw a big jump in pending sales. and a slight year-over-year increase. The median sale price in Bellingham is up dramatically as well. January of 2009 was $293,000, and in January of 2010 it was $336,000. The only negative is inventory has increased dramatically, as many homeowners have listed their homes on the market much sooner than usual. Typically we see an increase in homes listed in March/April, but because of the tax credit set to expire in April, homeowners have pushed up their list date to try to capitalize on the tax credit period. This increase in inventory is great news for buyers, since it gives them more choices and keeps prices down, but bad news for sellers. An increase in choices and competition means that only the most aggressively priced homes in the best locations will be selling.  See chart below for Whatcom County figures. If you would like to be emailed recent sold’s in your neighborhood, or if you’d like a Free Market Analsysis of your home’s value, click here.