The following is a quick analysis of the Whatcom County real estate market.
- There are currently 1586 homes for sale.
- Homes are priced from $16,000 – $6,995,000
- Average Asking Price $429,715 Days on Market: 126 days
- Median Asking Price $339,000 Days on Market: 77 days
- Homes sold in May: 152
- Average Listing Price $290,766
- Average Sold Price $281,527 Days on Market 92
- Median Listing Price $267,000
- Median Sold Price $260,320 Days on Market: 47
- Homes Pending this week: 66 Total Homes Pending: 434
- Average Sales Price April 2008: $300,903
- Median Sales Price April 2008: $263150
- Sold in March April : 180
The Average Sales price is down 6.4% compared to May 08 and down 3.6% compared to last month.
The Median Sales prices is down 1.1% compared to May 08 and up 2.3% compared to last month.
The number of sales is down by 28 or 15.6% compared to May 08 and up by 11 or 7.8% compared to last month.
Condo Analysis for Whatcom County
- Currently Active Listings: 503
- Price range of active listings – $24,900 – $1,565,000
- Average List Price $261,734 Days on Market: 192
- Median List Price $199,900 Days on Market: 120
- Sold in May: 18
- Average Listing Price $204,819
- Average Sold Price $194,661 Days on Market: 185
- Median Listing Price $204,750
- Median Sold Price $199,975 Days on Market: 163
- Condos Pending (went under contract) last week: 14 Total Condos Pending: 53
- Average Sales Price May 2008: $206,989
- Median Sales Price May 2008: $196,975
- Sold in May 2008: 52
The Average Sales price is down by 6.0% compared to May 08, and down 17.8% over last month.
The Median Sales prices is up by 1.6% compared to May 08 and down by 11.3% over last month.
The number of sales is down by 34 or 65% compared to May 08 and down by 6 or 25% compared to last month.
Buyers: Interest rates are still low making now is a good time to get in the market. There are still 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 Whatcom County real estate or living in Whatcom County send me an email or give me a call.