This is an interesting graph for this month. Notice the average value up 2.5 % over last year which is about the same as the increase for the entire year as you will see in one of my upcoming graphs. On the downside prices came down compared to last month and the median value is down about 3.7 %
The number of sales is down 11 compared to last year, and days on market is also up a bit over last year.
If you would like any more information about Real Estate or Real Estate statistics visit my website at BellinghamProperty.com
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The Bellingham condo market is a up this month a bit over last month and an average of 7.3% over last year and a whooping 15.9% if you are looking at the median values over last year. Condos have also been taking longer to sell than last year.
This is good news as the year closed out especially since the story isn’t as rosy if you lool at he yearly statistics.
If you would like any more information about Real Estate or Real Estate statistics visit my website at BellinghamProperty.com
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Real Estate Market Report/Conditions for Bellingham, WA for January, 2008
The following is a quick analysis of the Residential Bellingham real estate market by Michael Eisenberg of Fairhaven Realty.
- Currently Active Listings: 486 Average List Price $471,004 Days on the Market: 120
- Sold in December: 69
- Average Sales Price: $366,674
- Average List Price: $381,061
- Ratio of List to Price: 96.2%
- Average Days on the Market: 94
- Median Sales Price: $285,000
- Median ListPrice: $299,900
- Ratio of List to Price: 95.0%
- Pending Sales Last Week: 10
Condo Analysis for Bellingham
- Currently Active Listings: 292 Average List Price $280,543 Days on the Market: 267
- Sold in November: 31
- Average Sales Price: $212,056
- Average List Price: $213,463
- Ratio of List to Price: 99.5%
- Average Days on the Market: 111
- Median Sales Price: $197,032
- Median List Price: $188,950
- Ratio of List to Price: 95.8%
- Pending Sales Last Week: 7
Buyers: Interest rates are still low making 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.
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