Whatcom County Real Estate Market Report for February, 2010

The following is an analysis of the Whatcom County real estate market.

• There are currently 1446 homes for sale
• Homes are priced from $16,000 - $4,400,000
• Average Asking Price $407,864 Days on Market: 132 days
• Median Asking Price $328,500 Days on Market: 74 days
• Homes Pending (went under contract) last week: 61 Total Condos Pending: 373

	February 2010	February 2009	January 2010
Homes sold	95	92	97
Average Sold Price	258,678	307,992	277,881
Median Sold Price	244,900	254,990	245,000
Ave. Days on the Market	96	101	99

The Average Sales price is down 16.0% compared to February, 09 and down 6.9% compared to the previous month January, 2010. The Median Sales prices is down 3.9% compared to February, 09 and $100 less than the previous month January, 2010. The number of sales is down 5 compared to February, 09 and down 3 compared to the previous month January, 2010. Condo Analysis for Whatcom County

• Currently Active Listings: 411
• Price range of active listings - $19,000 - $1,395,000
• Average List Price $233,105 Days on Market: 164
• Median List Price $180,000 Days on Market: 131
• Condos Pending (went under contract) last week: 8 Total Condos Pending: 61

	February 2010	February 2009	January 2010
Homes sold	10	16	13
Average Sold Price	215,307	182,110	230,346
Median Sold Price	183,085	164,500	194,000
Ave. Days on the Market	146	151	118

The Average Sales price is up 18.2% compared to February, 09, and down 6.5% compared to the previous month January, 2010. The Median Sales prices is up 11.0% compared to February, 09 and down5.6 % compared to the previous month January, 2010. The number of sales is down 6 compared to February, 09 and down 3 compared to the previous month January, 2010. Pending sales are up again, But prices are falling again The First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years has been extended until April 2010. The new program has also expanded the tax credit to include existing home owners who have owned a home for at least five of the last 8 years. You will be able to apply for tax credits of up to $6,500 when you purchase your next home. You might want to talk to your banker to see what you can afford. Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. You might want to take a look at what it would cost you to purchase one of these homes at today’s rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house. If you have any questions or want to see any Bellingham Property feel free to email me at or give me a call at 360-739-6981

Bellingham Real Estate Market Report for February, 2010

The following is a quick analysis of the Residential Bellingham real estate market.

• Currently Active Listings: 473
• Price range of active listings - $90,000 - $3,600,000
• Average List Price $486,705 Days on the Market: 112
• Median List Price: $385,000 Days on the Market: 56
• Sold in February: 46
• Average List Price: $302,728
• Average Sales Price: $293,423 Days on the Market: 95
• Ratio of List to Price 96.8%
• Median List Price: $255,250
• Median Sales Price: $250,000 Days on the Market: 74
• Ratio of List to Price: 96.4%
• Pending Sales Last Week: 23 Total pending sales: 130

• Average Sales Price February 2009: $334,974
• Median Sales Price February 2009: $279,500
• Number Sold in February 2009: 37

The Average Sales price is down 12.4% compared to February 09 and down 12.9% compared to the previous month January 2010.

The Median Sales prices is down 10.5% compared February 09 and down 6.4% compared to the previous month January 2010.

The number of sales is up 11 compared to February 2009 and down 44 compared to the previous month January 2010.

Condo Analysis for Bellingham

• Currently Active Listings: 248
• Price range of active listings - $90,000 - $1,395,000
• Average List Price $245,189 Days on the Market: 161
• Median List Price $184,608 Days on the Market: 192
• Sold in February : 12
  
• Average List Price: $240,879
• Average Sales Price: $232,631 Days on the Market: 134
• Ratio of List to Price: 96.6%
• Median List Price: $192,950
• Median Sales Price: $183,085 Days on the Market: 63
  
• Ratio of List to Price: 94.9%
• Pending Sales Last Week: 5Total pending sales: 34

• Average Sales Price February, 2009: $228,849
• Median Sales Price February, 2009: $209,500
• Sold in February, 2009: 13

Average Condo sale price is up 1.7% from February, 2009 and down 4.8% from the previous month - January 2010.

Median Sales Price is down 12.5% from February, 2009 and down 16.4% from the previous month - January 2010.

The number of sales is down 1 compared to February, 2009 and  up 1 compared to the previous month  - January 2010.

If you look at the graph you can see that the  residential  market price is  heading down a bit. We're still up 3.3% since 2005

Will the roller coaster ride of prices continue?........Tune in next month

The  First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years has been extended until April 2010.  The new program has also expanded the tax credit to include existing home owners who have owned a home for at least five of the last 8 years. You will be able to apply for tax credits of up to $6,500 when you purchase your next home. You might want to talk to your banker to see what you can afford. Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. You might want to take a look at what it would cost you to purchase one of these homes at today’s rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house.

If you have any questions or want to see any Bellingham Property feel free to email me at or give me a call at 360-739-6981

 

Sudden Valley Real Estate Market – February 2010

The following is a quick analysis of the Sudden Valley Real Estate Market.

There are currently 96 homes for sale. Homes are priced from $109,900 - $789,000

• Average Asking Price is $302,759 Average Days on Market is 112
• Median Asking Price is $272,450 Median Days on Market is 77
  
• Sold in February: 9
• Average Listing Price $252,021
• Average Sold Price $246,055 Average Days on Market69
• Median Listing Price $239,000
• Median Sold Price $239,000 Median Days on Market 67
• Pending Sales Last Week: 6 Total pending sales: 29

• Average Sales Price February, 2009: $293,784
• Median Sales Price February, 2009: $312,450
• Sold in February, 2009: 10

The Average Sales price is down 16.2% compared to February, 09 and down 12.9% compared to last month - January, 2010.

The Median Sales prices is down 23.5% compared to February, 09 and down 12.8% compared to last month - January, 2010.

The number of sales down 1 compared to February, 09 and is up 2 units compared to last month - January, 2010.

Condo Analysis for Sudden Valley

There are currently 12 condos for sale. Condos are priced from $62,500 - $325,000

• Average List Price $180,467 Average Days on the Market: 131
• Median List Price $183,700 Median Days on the Market: 98
• Sold in February: 0
• Average Listing Price $139,500
• Average Sold Price $132,500 Average Days on Market 67
• Median Listing Price $139,500
• Median Sold Price $132,500 Median Days on Market 67
• Pending Sales Last Week: 1 Total pending sales: 1

• Sold in February, 2009: 0

Sudden Valley Sales prices are down a bit this month, there are some great deals available there right now.

The  First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years has been extended until April 2010.  The new program has also expanded the tax credit to include existing home owners who have owned a home for at least five of the last 8 years. You will be able to apply for tax credits of up to $6,500 when you purchase your next home. You might want to talk to your banker to see what you can afford. Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. You might want to take a look at what it would cost you to purchase one of these homes at today’s rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house.

If you have any questions or want to see any Bellingham Property feel free to email me at or give me a call at 360-739-6981

Bellingham Real Estate Market Report for January, 2010

The following is a quick analysis of the Residential Bellingham real estate market.

• Currently Active Listings: 443
• Price range of active listings - $90,000 – $3,450,000
• Average List Price $475,444 Days on the Market: 124
• Median List Price: $379,000 Days on the Market: 86
• Sold in January: 28
• Average List Price: $347,966
• Average Sales Price: $336,964 Days on the Market: 73
• Ratio of List to Price 96.8%
• Median List Price: $276,950
• Median Sales Price: $267,000 Days on the Market: 63
• Ratio of List to Price: 96.4%
• Pending Sales Last Week: 22 Total pending sales: 108

• Average Sales Price January 2000: $294,064
• Median Sales Price January 2009: $287,500
• Number Sold in January 2009: 38

The Average Sales price is up 14.5% compared to January 09 and up 2.5% compared to the previous month December 09.

The Median Sales prices is down 6.2% compared January 09 and down 2.8% compared to the previous  December 09.

The number of sales is down 10 compared to January 2009 and down 44 compared to the previous month December 09.

Condo Analysis for Bellingham

• Currently Active Listings: 241
• Price range of active listings – $105,000 – $1,565,000
• Average List Price $236,703 Days on the Market: 146
• Median List Price $179,900 Days on the Market: 181
• Sold in January: 11
  
• Average List Price: $257,509
• Average Sales Price: $244,455 Days on the Market: 120
• Ratio of List to Price: 97.1%
• Median List Price: $229,900
• Median Sales Price: $219,000 Days on the Market: 89
  
• Ratio of List to Price: 99.5%
• Pending Sales Last Week: 4 Total pending sales: 27

• Average Sales Price January, 2009: $210,200
• Median Sales Price January, 2009: $209,500
• Sold in January, 2009: 23

Average Condo sale price is up 16.2% from January 2009 and up 26.6% from the previous month – December 2009

Median Sales Price is up 4.7% from January 2009 and up 33.5% from the previous month – December 2009.

The number of sales is down 22 compared to January 2009 and  down 8 compared to the previous month  – December 09.

If you look at the graph you can see that the  residential and condo market prices  have taken a slight up tick.

Will the roller coaster ride of prices continue?……..Tune in next month

Homes under $300,00 have been selling well and itt seems like the higher end of the market which has been pretty stagnant is starting to move again as well. The absorption rates have gone down meaning number of  homes sold per month over a particular period of time has gone down. The number of months to sell is a reflection of the absorption rate, how long it will take to sell the current inventory at the said absorption rate.

Will the roller coaster ride of prices continue?……..Tune in next month

The  First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years has been extended until April 2010.  The new program has also expanded the tax credit to include existing home owners who have owned a home for at least five of the last 8 years. You will be able to apply for tax credits of up to $6,500 when you purchase your next home. You might want to talk to your banker to see what you can afford. Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. You might want to take a look at what it would cost you to purchase one of these homes at today’s rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house.

If you have any questions or want to see any Bellingham Property feel free to email me at or give me a call at 360-739-6981

Olympic Torch Will Be at Blaine’s Peace Arch Park

 

The Olympic torch will be making a stop at Blaine’s Peace Arch Park on  Tuesday, Feb. 9., it will be there at 7:20 am so you better get there early. The events are free and include entertainment.

Olympic torch is a symbol of the Olympic Games.  In 1936, Carl Diem, the chairman of the organizing committee for the 1936 Games, suggested what is now the modern Olympic Torch relay.  The Olympic flame is lit at the ancient site of Olympia by women wearing ancient-style robes and using a curved mirror and the sun, it  is then passed along from runner to runner from this ancient site to the Olympic stadium in the hosting city. The flame is kept lit until the end of the Games.

If you miss it there it will be making it’s way to Vancouver over the next few days at these  locations.

“Abbotsford: The party will begin at 5:45 p.m. Sunday, Feb. 7, at Abbotsford Exhibition Park, not far north of Sumas. The torch is expected to arrive at about 7 p.m., followed by a cauldron lighting. Parking at the site will be limited, and the event is scheduled to run until 8 p.m.

Surrey: The torch is expected to arrive at about 7 p.m. Monday, Feb. 8, at Surrey’s Holland Park. A community torch celebration will begin at 5:45 p.m.

White Rock: The torch will pass through White Rock starting at 6:30 a.m. Tuesday, Feb. 9. White Rock firefighters will host a fundraiser pancake breakfast from 7:30 to 10:30 a.m. at the White Rock Community Centre, 15154 Russell Ave. Olympic athletes from the region will sign autographs.

Peace Arch Park: At about 7:20 a.m. Tuesday, the torch comes to Peace Arch Provincial Park, just across the border. Take exit 276 off Interstate 5 and head to Peace Arch State Park to get one of about 200 parking spaces. Washington Gov. Chris Gregoire and British Columbia Premier Gordon Campbell are scheduled to be there.”

 

Image by Getty Images via DaylifeThe

Whatcom County and Lummi Nation Reach Deal on Lummi Island Ferry

It looks like life will continue without disruptions for the roughly 1,000 permanent residents of Lummi Island.  Whatcom County officials and the Lummi Nation have announced an agreement on a new long-term lease for the Gooseberry Point ferry dock,  ensuring uninterrupted ferry service between Gooseberry Point and Lummi.

The current lease expires Feb. 14, and thing were looking shaky for island residents. The County even did a tet run to Fairhaven.

Rumor has it that fares and schedules for the Whatcom Chief ferry may change once a final, long-term deal is done.

Tribal leaders have recently stated their goal was the eventual relocation of the ferry dock, and they expressed reluctance to consider any lease renewal beyond five years. But Tuesday's announcement said the tribe and county have reached "a conceptual agreement for a 25-year lease with an option to renew for an additional 25 years……………………..Both the Lummi Nation and Whatcom County are committed to continuing to work in a spirit of cooperation to develop a final agreement in a timely manner,"

So if you’re considering a move to Lummi Island, you won’t have to worry about whether or not you’ll have a way to get to your new home. The ferry will be around for many years to come.

If your interested in Lummi Island homes give me a call, there are some great deals there.

Bellingham Real Estate Market Report for December, 2009

The following is a quick analysis of the Residential Bellingham real estate market.

• Currently Active Listings: 405
• Price range of active listings - $90,000 - $3,450,000
• Average List Price $472,24090 Days on the Market: 135
• Median List Price: $378,000 Days on the Market: 97
• Sold in December: 72
• Average List Price: $341,735
• Average Sales Price: $328,616 Days on the Market: 85
• Ratio of List to Price96.1%
• Median List Price: $288,000
• Median Sales Price: $280,000 Days on the Market: 62
• Ratio of List to Price: 97.2%
• Pending Sales Last Week: 15 Total pending sales: 97

• Average Sales Price December 2008: $323,399
• Median Sales Price December 2008: $259,000
• Number Sold in December 2008: 49

The Average Sales price is up 1.6% compared to December 08 and down 12.1% compared to the previous month November 09.

The Median Sales prices is up 8.1% compared December 08 and down 1.9% compared to the previous  November 09.

The number of sales is up by 23 compared to December 2008 and down by 15 compared to the previous month November 09.

Condo Analysis for Bellingham

• Currently Active Listings: 233
• Price range of active listings - $109,900 - $1,565,000
• Average List Price $244,603 Days on the Market: 158
• Median List Price $183,000 Days on the Market: 156
• Sold in December: 19
  
• Average List Price: $198,700
• Average Sales Price: $193,038 Days on the Market: 114
• Ratio of List to Price: 97.1%
• Median List Price: $164,900
• Median Sales Price: $164,000 Days on the Market: 73
  
• Ratio of List to Price: 99.5%
• Pending Sales Last Week: 9 Total pending sales: 23

• Average Sales Price December, 2008: $200,792
• Median Sales Price December, 2008: $184,900
• Sold in December, 2008: 17

Average Condo sale price is down 3.8% from December  2008 and down 3.4% from the previous month - November 2009

Median Sales Price is down 18.3% from December 2008 and down 6.3% from the previous month - November 2009.

The number of sales is down 2 compared to December 2008 and  up 4 compared to the previous month November 09.

If you look at the graph you can see that prices the  residential market have gone up in the first part of the year than took a dip, climbed back up and took a dip again in December. Condos went up and pretty much came down. Will the roller coaster ride of prices continue?........Tune in next month

Homes under $300,00 have been selling well and it seems like the higher end of the market which has been pretty stagnant is starting to move again as well. The absorption rates have gone down meaning number of  homes sold per month over a particular period of time has gone down. The number of months to sell is a reflection of the absorption rate, how long it will take to sell the current inventory at the said absorption rate.

Will the roller coaster ride of prices continue?........Tune in next month

The  First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years has been extended until April 2010.  The new program has also expanded the tax credit to include existing home owners who have owned a home for at least five of the last 8 years. You will be able to apply for tax credits of up to $6,500 when you purchase your next home. You might want to talk to your banker to see what you can afford. Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. You might want to take a look at what it would cost you to purchase one of these homes at today’s rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house.

If you have any questions or want to see any Bellingham Property feel free to email me at or give me a call at 360-739-6981