Bellingham Real Estate Market Report – November 5, 2007

The following is a quick analysis of the Residential Bellingham real estate market by Michael Eisenberg of Fairhaven Realty.

• Currently Active Listings: 653  Average List Price $469,214    Days on the Market:  110
• Sold in September: 80 
• Average Sales Price: $358,224
• Average List Price: $368,359
• Ratio of List to Price: 97.2%
• Average Days on the Market: 82
• Median Sales Price: $314,450
• Median List Price: $319,450 
• Ratio of List to Price: 98.4%
• Pending Sales Last Week: 12

  Condo Analysis for Bellingham

• Currently Active Listings: 331 Average List Price $254,098    Days on the Market:  240
• Sold in September: 49
• Average Sales Price: $239.010
• Average List Price: $244,479 
• Ratio of List to Price: 97.8%
• Average Days on the Market: 180
• Median Sales Price: $221,498
• Median List Price: $224,200
• Ratio of List to Price: 98.8%
• Pending Sales Last Week: 7

Buyers: now is a good time to get in the market, there are plenty of homes to choose from and lots have been on the market a long time so there are some motivated sellers out there who need to sell their homes.

Sellers: There is still a lot of competition right now and if you don’t want your home to sit on the market without an offer here are a few bits of advise:

• The most important thing you can do is price your home right, have your real estate agent do a CMA and price your home aggressively, that is in the lower range of similar homes if you want a quick sale
• Have a pre-inspection done to your home and fix any problems
• Give your home curb appeal
• Offer a Home Warranty if it is an older home
• Get rid of clutter, start clearing out your things, even if you have to put them in storage.
• Think about staging your home, get advise from a staging professional or at least your agent.

If you would like some info about real estate or living in Bellingham visit my website at BellinghamProperty.com or give me a call.