Paul's Bellingham Blog

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

2013 Mid-Year Market Update (ALL Positive!)

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Looking at the numbers for the first half of 2013 in Bellingham and Whatcom County, there is nothing but positive news to report!

Sales are up and inventory is down, thus supply and demand is kicking into effect, and home values are finally beginning to rebound.

Unlike the Seattle area, the Bellingham market has not exactly caught fire, but Whatcom County home values have increased by approximately 2% on average, and Bellingham home values have increased by approximately 5% in the first half of 2013. Our local market is showing a sustainable, steady and consistent trend of home values increasing and the general market improving.

The average dollar per sq. foot has increased to it’s highest level on average in 6 years ($154 a square foot county wide and $177 a square foot on average in Bellingham).

With interest rates rising slightly recently, it will be interesting to see if the market continues to rebound at this current pace. There is no question though the market is on the upswing in our area.

To chart shown is of stats through May. Stats updated through June will be updated soon on this blog.