Real Estate Market Report/Conditions for Bellingham, WA for August, 2008
The following is a quick analysis of the Residential Bellingham real estate market.
- Currently Active Listings: 645
- Price range of active listings – $144,900 – $3,575,000
- Average List Price $527,522 Days on the Market: 110
- Median List Price: $389,950 Days on the Market: 78
- Sold in August: 87
- Average List Price: $424,249
- Average Sales Price: $405,983
- Ratio of List to Price: 95.7% Days on the Market: 77
- Median ListPrice: $319,000
- Median Sales Price: $309,500 Days on the Market: 53
- Pending Sales Last Week: 27
Condo Analysis for Bellingham
- Currently Active Listings: 286
- Price range of active listings – $110,000 – $1,565,000
- Average List Price $300,872 Days on the Market: 192
- Median List Price $222,400 Days on the Market: 127
- Sold in August: 30
- Average List Price: $221,980
- Average Sales Price: $211,970
- Ratio of List to Price: 95.5% Days on the Market: 103
- Median List Price: $182,250
- Median Sales Price: $180,000
- Ratio of List to Price: 98.7% Days on the Market: 85
- Pending Sales Last Week: 9
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 many of these homes 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 Bellingham real estate or living in Bellingham visit my website at BellinghamProperty.com or give me a call.