Entries from December 2007
Absorption rate is average number of homes sold per month over a particular period of time. The months to sell is a reflection of the absorbtion rate, how long it will take to sell the current inventory at the said absortion rate.
This is a very interesting way to look at the market:
Average List Price $470,233 Days on the market 124
Median List Price $361,300 Days on the market 99
|
Price Range
|
Active Listings
|
Monthly Absorbtion Rate
|
Pending Past week
|
Months to sell Current Inventory
|
|
|
|
|
|
|
|
Up to $200,000
|
15
|
5.5
|
0
|
2.7
|
|
200,000-300,000
|
165
|
40.7
|
3
|
4.1
|
|
300,000-400,000
|
135
|
31.1
|
4
|
4.3
|
|
400,000-500,000
|
89
|
13.7
|
0
|
6.2
|
|
500,000-600,000
|
37
|
5.9
|
1
|
6.2
|
|
600,000-700,000
|
27
|
2.8
|
0
|
9.6
|
|
700,000-800,000
|
20
|
2.5
|
0
|
8.0
|
|
800,000-900,000
|
17
|
1.9
|
0
|
89
|
|
900,000-1,000,000
|
10
|
.8
|
0
|
10
|
|
1,000,000-2,000,000
|
23
|
1.5
|
0
|
15.3
|
|
2,000,000+
|
5
|
.34
|
0
|
16.6
|
|
Totals
|
539
|
105
|
8
|
5.1
|
Categories: Uncategorized
Absorption rate is average number of homes sold per month over a particular period of time. The months to sell is a reflection of the absorbtion rate, how long it will take to sell the current inventory at the said absortion rate.
This is a very interesting way to look at the market:
Average List Price $466,726 Days on the market 117
Median List Price $359,900 Days on the market 90
|
Price Range
|
Active Listings
|
Monthly Absorbtion Rate
|
Pending Past week
|
Months to sell Current Inventory
|
|
|
|
|
|
|
|
Up to $200,000
|
21
|
5.8
|
1
|
3.6
|
|
200,000-300,000
|
181
|
42.1
|
7
|
4.3
|
|
300,000-400,000
|
158
|
32.6
|
6
|
4.8
|
|
400,000-500,000
|
92
|
14.3
|
1
|
6.4
|
|
500,000-600,000
|
41
|
6.0
|
1
|
6.8
|
|
600,000-700,000
|
30
|
2.9
|
2
|
10.3
|
|
700,000-800,000
|
21
|
2.8
|
0
|
7.5
|
|
800,000-900,000
|
23
|
2.0
|
0
|
11.5
|
|
900,000-1,000,000
|
8
|
.8
|
1
|
10
|
|
1,000,000-2,000,000
|
25
|
1.5
|
0
|
16.6
|
|
2,000,000+
|
5
|
.34
|
0
|
16.6
|
|
Totals
|
599
|
108
|
18
|
5.5
|
Categories: Uncategorized
Absorption rate is average number of homes sold per month over a particular period of time. The months to sell is a reflection of the absorbtion rate, how long it will take to sell the current inventory at the said absortion rate.
This is a very interesting way to look at the market:
Average List Price $474,255 Days on the market 122
Median List Price $365,000 Days on the market 97
|
Price Range
|
Active Listings
|
Monthly Absorbtion Rate
|
Pending Past week
|
Months to sell Current Inventory
|
|
|
|
|
|
|
|
Up to $200,000
|
14
|
5.5
|
2
|
2.5
|
|
200,000-300,000
|
160
|
40.7
|
7
|
3.9
|
|
300,000-400,000
|
139
|
31.1
|
2
|
4.5
|
|
400,000-500,000
|
88
|
13.7
|
1
|
6.4
|
|
500,000-600,000
|
37
|
5.9
|
0
|
6.3
|
|
600,000-700,000
|
28
|
2.8
|
0
|
10.0
|
|
700,000-800,000
|
19
|
2.5
|
0
|
7.6
|
|
800,000-900,000
|
20
|
1.9
|
0
|
10.5
|
|
900,000-1,000,000
|
9
|
.8
|
0
|
11.3
|
|
1,000,000-2,000,000
|
24
|
1.5
|
0
|
16.0
|
|
2,000,000+
|
5
|
.34
|
0
|
14.7
|
|
Totals
|
539
|
105
|
12
|
5.1
|
Categories: Uncategorized
Absorption rate is average number of homes sold per month over a particular period of time. The months to sell is a reflection of the absorbtion rate, how long it will take to sell the current inventory at the said absortion rate.
This is a very interesting way to look at the market:
Average List Price $473,227 Days on the market 118
Median List Price $364,950 Days on the market 94
|
Price Range
|
Active Listings
|
Monthly Absorbtion Rate
|
Pending Past week
|
Months to sell Current Inventory
|
|
|
|
|
|
|
|
Up to $200,000
|
17
|
5.5
|
1
|
3.1
|
|
200,000-300,000
|
170
|
40.7
|
6
|
4.3
|
|
300,000-400,000
|
135
|
31.1
|
7
|
4.3
|
|
400,000-500,000
|
92
|
13.7
|
5
|
6.7
|
|
500,000-600,000
|
39
|
5.9
|
0
|
6.6
|
|
600,000-700,000
|
28
|
2.8
|
0
|
10.0
|
|
700,000-800,000
|
20
|
2.5
|
2
|
8.0
|
|
800,000-900,000
|
22
|
1.9
|
1
|
11.8
|
|
900,000-1,000,000
|
9
|
.8
|
1
|
11.3
|
|
1,000,000-2,000,000
|
25
|
1.5
|
1
|
16.7
|
|
2,000,000+
|
4
|
.34
|
0
|
11.8
|
|
Totals
|
556
|
105
|
22
|
5.3
|
Categories: Uncategorized
Things are looking good in the Bellingham Market. This is a really good improvement over last month as you can see both average and mean values have gone up,where last month they were both down.
The average price increased 5.9% over last month, the median price rose 1.8% over last month.
The average price increased 4.1% over last year, the median price rose 4.3% over last year.
The number of sales is down 13 compared to last month and 36 compared to last year , and days on market is also up a bit, so we have a slower market time but increasing values.
The higher mustard colored lines indicate higher prices for October of 2006.
If you would like any more information about Real Estate or Real Estate statistics visit my website at BellinghamProperty.com
Categories: Uncategorized
The Bellingham condo market is a bit down this month compared to last month and last year.
The average is down 9% over last November, while the median price is down 5% over last year .
Once again I will say that I think these statistics will change pretty drastically in the coming months to increases for condo sales prices as some of the upscale condos like the Waldron & Young, and the Drake buildings are finished and the reserved units there start closing.
If you would like any more information about Real Estate or Real Estate statistics visit my website at BellinghamProperty.com
Categories: Uncategorized
The Bellingham condo market is a bit down this month compared to last month and last year.
The average is down 9% over last November, while the median price is down 5% over last year .
Once again I will say that I think these statistics will change pretty drastically in the coming months to increases for condo sales prices as some of the upscale condos like the Waldron & Young, and the Drake buildings are finished and the reserved units there start closing.
If you would like any more information about Real Estate or Real Estate statistics visit my website at BellinghamProperty.com
Categories: Uncategorized
| Real Estate Market Report/Conditions for Bellingham, WA for December 4, 2007
The following is a quick analysis of the Residential Bellingham real estate market by Michael Eisenberg of Fairhaven Realty.
- Currently Active Listings: 570 Average List Price $468,403 Days on the Market: 116
- Sold in November: 57
- Average Sales Price: $379,223
- Average List Price: $394,239
- Ratio of List to Price: 96.2%
- Average Days on the Market: 102
- Median Sales Price: $320,000
- Median ListPrice: $325,000
- Ratio of List to Price: 98.5%
- Pending Sales Last Week: 16
Condo Analysis for Bellingham
- Currently Active Listings: 318 Average List Price $276,102 Days on the Market: 241
- Sold in November: 32
- Average Sales Price: $206,199
- Average List Price: $205,919
- Ratio of List to Price: 100%
- Average Days on the Market: 219
- Median Sales Price: $200,924
- Median List Price: $193,925
- Ratio of List to Price: 96.5%
- Pending Sales Last Week: 2
Buyers: now is a good time to get in the market, there are 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
- Hava 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 real estate or living in Bellingham visit my website at BellinghamProperty.com or give me a call.
|
Categories: Uncategorized
Absorption rate is average number of homes sold per month over a particular period of time. The months to sell is a reflection of the absorbtion rate, how long it will take to sell the current inventory at the said absortion rate.
This is a very interesting way to look at the market:
Average List Price $469,872 Days on the market 117
Median List Price $359,900 Days on the market 89
|
Price Range
|
Active Listings
|
Monthly Absorbtion Rate
|
Pending Past week
|
Months to sell Current Inventory
|
|
|
|
|
|
|
|
Up to $200,000
|
17
|
5.5
|
0
|
3.1
|
|
200,000-300,000
|
174
|
40.7
|
4
|
4.3
|
|
300,000-400,000
|
151
|
31.1
|
2
|
4.9
|
|
400,000-500,000
|
90
|
13.7
|
3
|
6.6
|
|
500,000-600,000
|
40
|
5.9
|
1
|
6.8
|
|
600,000-700,000
|
27
|
2.8
|
0
|
9.6
|
|
700,000-800,000
|
21
|
2.5
|
0
|
8.4
|
|
800,000-900,000
|
22
|
1.9
|
1
|
11.8
|
|
900,000-1,000,000
|
8
|
.8
|
1
|
10
|
|
1,000,000-2,000,000
|
25
|
1.5
|
0
|
16.7
|
|
2,000,000+
|
5
|
.34
|
0
|
16.7
|
|
Totals
|
574
|
105
|
17
|
5.5
|
Categories: Uncategorized
