Let’s take a look at Bellingham Real Estate Market Report for residential home sales for the month of December 2015.
The number of sales is down by 8 compared to December 2014 and up by 9 from last month.
The sales price is up 5.7% compared to December 2014 and down by $15,491 from last month’s average sale price of $397,418
The inventory is still incredibly low with only 2 months supply of homes on the market right now. If you have any interest in selling your home this could be a great time for you. There are still lots of buyers out there but not many homes for them to choose from. Multiple offers are common again. I had a young couple put an offer in on a small well-priced home recently that had 10 offers on it. It is more important than ever to have all your “ducks in a row.” Have your pre-approval letter from your lender ready to submit with your offer. If you don’t have it start gathering the documents you will need to get one, which is usually 2 years of tax returns and 2 or 3 months of pay stubs. Check with your preferred lender or let me know if you need a recommendation to a good lender.
Interest rates are still low but they are starting to climb. Hopefully for you buyers out there they will remain at historic low rates untill the end of the year.
Want to learn more about the market let’s talk! If you have any questions or want to see any Bellingham Real Estate feel free to email me at or give me a call at 360-739-6981
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