The following is a quick analysis of the Residential Bellingham real estate market.
- Currently Active Listings: 525
- Price range of active listings – $124,900 – $3,450,000
- Average List Price $536,937 Days on the Market: 116
- Median List Price: $409,000 Days on the Market: 73
- Sold in May: 82
- Average List Price: $321,191
- Average Sales Price: $313,104
- Ratio of List to Price: 97.5% Days on the Market: 81
- Median List Price: $288,000
- Median Sales Price: $275,500 Days on the Market: 42
- Ratio of List to Price: 95.7%
- Pending Sales Last Week: 40 Total pending sales: 186
- Average Sales Price May 2008: $345,248
- Median Sales Price May 2008: $304,000
- Number Sold in May, 2008: 82
The Average Sales price is down 9.3% compared to May 08 and down 6.9% compared to last month April 09.
The Median Sales prices is the same as May 08 and up by 11 compared to April 09.
The number of sales is up down by 8 or 10% compared to May 08 and up by 16 or 29% compared to last month April 09.
Condo Analysis for Bellingham
- Currently Active Listings: 303
- Price range of active listings – $99,000 – $1,565,000
- Average List Price $248,205 Days on the Market: 199
- Median List Price $199,500 Days on the Market: 114
- Sold in May: 12
- Average List Price: $197,329
- Average Sales Price: $189,185
- Ratio of List to Price: 95.9% Days on the Market: 197
- Median List Price: $188,400
- Median Sales Price: $179,000
- Ratio of List to Price: 95.0% Days on the Market: 164
- Pending Sales Last Week: 7 Total pending sales: 34
- Average Sales Price May, 2008: $207,058
- Median Sales Price May, 2008: $198,975
- Sold in May, 2008: 34
Average Condo sale price is down 8.6% from May 2008 and down 35.5% from last month – April 2009
Median Sales Price is down 10,1% from May 2008 and up 18.1% from last month – April 2009
The number of condo sales is down by 22 compared to May 2008 and down by 18 compared to last month – April 2009.
Prices are coming down in Bellingham, and there are some great values in the Bellingham market right now, and interest rates are still extremely low. 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.
There is also a newly passed First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years. You might want to talk to your banker to see what you can afford.
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