Bellingham Real Estate Market Report – May 2016

 

To see the extensive Bellingham Real Estate Market Report for May Click Here

Here’s a quick look at the Bellingham Real Estate Market Report for May 2016 for residential home sales.

The number of residential sales is down by 8 from May  2015 and 10 from last month.
The sales price is down 2.5% compared to May 2015 and up by $1,447 from last month’s average sale price of $4407,484

The market is still experiencing a low inventory with only 2 months supply of homes on the market right now.

There are many buyers out there today looking for new homes but a limited amount of  homes for them to choose from.

Multiple offers are still common in this market for any desirable home.

For buyers,  it is more important than ever to have a pre-approval letter from your lender ready to submit with your offer if you are in a competitive market.

If you don’t have it yet, start gathering the documents you will need to get one, which is usually 2 years of tax returns and 2 or 3 months of pay stubs. Check with your preferred lender or let me know if you need a recommendation to a good lender.
Want to learn more about the market let’s talk! If you have any questions or want to see any Bellingham Real Estate feel free to email me at or give me a call at 360-739-6981
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