Bellingham Real Estate Market Report for November, 2009

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

• Currently Active Listings: 432
• Price range of active listings – $107,600 – $3,450,000
• Average List Price $492,090 Days on the Market: 123
• Median List Price: $375,000 Days on the Market: 85
• Sold in November: 87
• Average List Price: $362,903
• Average Sales Price: $374,068 Days on the Market: 91
• Ratio of List to Price: 103%
• Median List Price: $288,000
• Median Sales Price: $280,000 Days on the Market: 62
• Ratio of List to Price: 97.2%
• Pending Sales Last Week: 10 Total pending sales: 126

• Average Sales Price November 2008: $320,973
• Median Sales Price November 2008: $288,950
• Number Sold in November 2008: 36

The Average Sales price is up 16.5% compared to November 08 and up 13.6% compared to the previous month October 09.

The Median Sales prices is down by 3.1% compared November 08 and up 2.3% compared to the previous  October 09.

The number of sales is up by 21 compared to November 2008 and down by 9 compared to the previous month October 09.

Condo Analysis for Bellingham

• Currently Active Listings: 241
• Price range of active listings – $113,900 – $1,565,000
• Average List Price $236,909 Days on the Market: 157
• Median List Price $184,900 Days on the Market: 118
• Sold in November: 15
  
• Average List Price: $207,106
• Average Sales Price: $199,771 Days on the Market: 123
• Ratio of List to Price: 96.5%
• Median List Price: $185,000
• Median Sales Price: $175,000 Days on the Market: 44
• Ratio of List to Price: 94.6%
• Pending Sales Last Week: 3Total pending sales: 25

• Average Sales Price November, 2008: $181,125
• Median Sales Price November, 2008: $179,750
• Sold in November, 2008: 4

Average Condo sale price is up 10.3% from November 2008 and down 0.9% from the previous month – October 2009

Median Sales Price is down 2.6% from November 2008 and down 2.3% from the previous month – October 2009.

The number of sales is up by 11 compared to November 2008 and down by 20 compared to the previous month October 09.

If you look at the graph you can see that prices the  residential market has taken a bit of a rise again.  Where will the graph go next month is anybody’s guess. Will the roller coaster ride of prices continue?……..Tune in next month

Great news the  First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years has been extended until April 2010.  The new program will also expand the tax credit to include existing home owners who have owned a home for at least five of the last 8 years will be able to apply for tax credits of up to $6,500 when they purchase their next home.You might want to talk to your banker to see what you can afford.Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. 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.

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