Real Estate Market Report/Conditions for Bellingham, WA for February, 2008
The following is a quick analysis of the Residential Bellingham real estate market by Michael Eisenberg of Fairhaven Realty.
- Currently Active Listings: 544
- Average List Price $491,959 Days on the Market: 114
- Median List Price: $377,000 Days on the Market:82
- Sold in January: 68
- Average Sales Price: $366,515
- Average List Price: $378,641
- Ratio of List to Price: 96.8%
- Average Days on the Market: 106
- Median Sales Price: $294,450
- Median ListPrice: $304,400
- Ratio of List to Price: 96.7%
- Pending Sales Last Week: 19
Condo Analysis for Bellingham
- Currently Active Listings: 297
- Average List Price $285,959 Days on the Market: 217
- Median List Price $211,400 Days on the Market: 122
- Sold in January: 36
- Average Sales Price: $247,453
- Average List Price: $250,963
- Ratio of List to Price: 98.6%
- Average Days on the Market: 196
- Median Sales Price: $200,000
- Median List Price: $202,995
- Median Days on the Market: 95
- Ratio of List to Price: 98.5%
- Pending Sales Last Week: 5
Buyers: Interest rates are still low making 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
- Hava 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.