Bellingham Real Estate Market Report for July, 2008

Real Estate Market Report/Conditions for Bellingham, WA for July, 2008

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

• Currently Active Listings: 682
• Price range of active listings – $159,000 – $3,575,000
• Average List Price $525,337 Days on the Market: 110
• Median List Price: $389,136 Days on the Market: 70
• Sold in July: 96
• Average List Price: $362,850
• Average Sales Price: $351,180
• Ratio of List to Price: 98.1% Days on the Market: 79
• Median ListPrice: $312,450
• Median Sales Price: $304,750 Days on the Market: 45
• Pending Sales Last Week: 28

Condo Analysis for Bellingham

• Currently Active Listings: 328
• Price range of active listings – $116,950 – $1,675,000
• Average List Price $293,776 Days on the Market: 202
• Median List Price $220,700 Days on the Market: 117
• Sold in July: 25
• Average List Price: $196,030
• Average Sales Price: $192,678 Days on the Market: 139
• Median List Price: $197,900
• Median Sales Price: $184,500 Days on the Market: 59
• Pending Sales Last Week: 10

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 Bellingham real estate or living in Bellingham visit my website at BellinghamProperty.com or give me a call.