The following is an analysis of the Whatcom County real estate market.
- There are currently 1610 homes for sale
- Homes are priced from $15,900 – $4,400,000
- Average Asking Price $396,315 Days on Market: 126 days
- Median Asking Price $317,475 Days on Market: 69 days
- Homes Pending (went under contract) last week: 67 Total Condos Pending: 364
|
March 2010
|
March 2009
|
February 2010
|
|
| Homes sold |
180
|
128
|
95
|
| Average Sold Price |
265,983
|
304,016
|
258,578
|
| Median Sold Price |
234,000
|
266,800
|
244,900
|
| Ave. Days on the Market/Median |
90/52
|
128/112
|
96/81
|
The Average Sales price is down 12.5% compared to March, 09 and up 2.8% compared to the previous month February, 2010.
The Median Sales prices is down 12.3% compared to March, 09 and down 4.5% than the previous month February, 2010.
The number of sales is up 52 compared to March, 09 and up 85 compared to the previous month February, 2010.
Condo Analysis for Whatcom County
- Currently Active Listings: 468
- Price range of active listings – $19,000 – $1,395,000
- Average List Price $226,632 Days on Market: 158
- Median List Price $179,000 Days on Market: 104
- Condos Pending (went under contract) last week: 13 Total Condos Pending: 73
|
March 2010
|
March 2009
|
February 2010
|
|
| Homes sold |
31
|
20
|
10
|
| Average Sold Price |
247,182
|
182,110
|
215,307
|
| Median Sold Price |
171,500
|
164,500
|
183,085
|
| Ave. Days on the Market/Med |
140/74
|
104/52
|
146/110
|
The Average Sales price is up 35.7% compared to March, 09, and up 14.8% compared to the previous month February, 2010.
The Median Sales prices is up 4.2% compared to March, 09 and down 6.3 % compared to the previous month February, 2010.
The number of sales is up 9 compared to March, 09 and up 21 compared to the previous month February, 2010.
Looking at the graph the general trend seems downward average prices are up for residential and condos from last month. There were a few high price condos bringing those averages up quite a bit.
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 has also expanded the tax credit to include existing home owners who have owned a home for at least five of the last 8 years. You will be able to apply for tax credits of up to $6,500 when you purchase your 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