Absorption Rates for Bellingham – 6-29-09

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 absorption rate, how long it will take to sell the current inventory at the said absorption rate.

The Pending Ratio is  the number of homes currently under contract compared to the number of homes available for sale .

This is a very interesting way to look at the market, as of today:

Average List Price $523,713 Days on the market 116

Median List Price $399,950  Days on the market 73

Price Range	Active Listings	Monthly Absorption Rate	Pending Past week/Total	Months to sell Current Inventory	Pending Ratio
Up to $199,999	33	6.1	4/34	5.4	103%
200,000-299,999	134	28.4	10/71	4.7	53%
300,000-399,999	105	15.8	6/32	6.6	30.5%
400,000-499,999	88	7.8	5/20	11.2	23%
500,000-599,999	57	3.5	3/11	16.3	19%
600,000-699,999	32	2.1	3/6	15.2	19%
700,000-799,999	20	.7	0/2	28.6	10%
800,000-899,999	17	.8	1/2	21.3	12%
900,000-999,999	14	0.5	0/0	28	0%
1,000,000-1,999,999	36	0.6	1/4	60	10%
2,000,000+	6	.1	0/1	60	20%
Totals	543	67.1	33/184	8.1	33.9%

It still looks like a buyers market under $300.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.

Absorption Rates for Bellingham – 6-15-09

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 absorption rate, how long it will take to sell the current inventory at the said absorption rate.

This is a very interesting way to look at the market, as of today:

Average List Price $534,203     Days on the market 116

Median List Price $400,000      Days on the market 74

Price Range	Active Listings	Monthly Absorption Rate	Pending Past week	Months to sell Current Inventory
Up to $199,999	32	6.1	5	5.2
200,000-299,999	126	28.4	7	4.5
300,000-399,999	101	15.8	5	6.4
400,000-499,999	82	7.8	3	10.5
500,000-599,999	59	3.5	2	16.9
600,000-699,999	29	2.1	3	13.8
700,000-799,999	23	.7	0	32.8
800,000-899,999	16	.8	0	20
900,000-999,999	12	0.5	0	24
1,000,000-1,999,999	39	0.6		65
2,000,000+	6	.1	0	60
Totals	527	67.1	26	7.9

It still looks like a buyers market under $300.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.

Absorption Rates for Bellingham – 6-08-09

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 absorption rate, how long it will take to sell the current inventory at the said absorption rate.

This is a very interesting way to look at the market, as of today:

Average List Price $536,016     Days on the market 119

Median List Price $409,975       Days on the market 75

Price Range	Active Listings	Monthly Absorption Rate	Pending Past week	Months to sell Current Inventory
Up to $199,999	35	6.1	1	5.7
200,000-299,999	120	28.4	15	4.2
300,000-399,999	96	15.8	6	6.1
400,000-499,999	77	7.8	4	9.9
500,000-599,999	59	3.5	5	16.9
600,000-699,999	35	2.1	1	16.6
700,000-799,999	23	.7	0	32.8
800,000-899,999	16	.8	0	20
900,000-999,999	10	0.5	0	20
1,000,000-1,999,999	39	0.6	2	65
2,000,000+	6	.1	0	60
Totals	516	67.1	34	7.7

It still looks like a buyers market under $300.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.

Bellingham Real Estate Market Report for May, 2009

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

• Currently Active Listings: 525
• Price range of active listings – $124,900 – $3,450,000
• Average List Price $536,937       Days on the Market: 116
• Median List Price: $409,000       Days on the Market: 73
• Sold in May: 82
• Average List Price: $321,191
• Average Sales Price: $313,104
• Ratio of List to Price: 97.5%      Days on the Market: 81
• Median List Price: $288,000
• Median Sales Price: $275,500     Days on the Market: 42
• Ratio of List to Price: 95.7%
• Pending Sales Last Week: 40     Total pending sales: 186

• Average Sales Price May 2008: $345,248
• Median Sales Price May 2008: $304,000
• Number Sold in May, 2008: 82

The Average Sales price is down 9.3% compared to May 08 and down 6.9% compared to last month April 09.

The Median Sales prices is the same as May 08 and up by 11 compared to April 09.

The number of sales is up down by 8 or 10% compared to May 08 and up by 16 or 29% compared to last month April 09.

 

Condo Analysis for Bellingham

• Currently Active Listings: 303
• Price range of active listings – $99,000 – $1,565,000
• Average List Price $248,205      Days on the Market: 199
• Median List Price $199,500       Days on the Market: 114
• Sold in May: 12
• Average List Price: $197,329
• Average Sales Price: $189,185
• Ratio of List to Price: 95.9% Days on the Market: 197
• Median List Price: $188,400
• Median Sales Price: $179,000
• Ratio of List to Price: 95.0% Days on the Market: 164
• Pending Sales Last Week: 7     Total pending sales: 34

• Average Sales Price May, 2008: $207,058
• Median Sales Price May, 2008: $198,975
• Sold in May, 2008: 34

Average Condo sale price is down 8.6% from May 2008 and down 35.5% from last month – April  2009

Median Sales Price is down 10,1% from May 2008 and up 18.1% from last month – April  2009

The number of condo sales is down by 22  compared to May 2008 and  down by 18 compared to last month – April 2009.

Prices are coming down in Bellingham, and there are some great values in the Bellingham market right now, and interest rates are still extremely low. 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.

There is also a newly passed First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years. You might want to talk to your banker to see what you can afford.

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

Absorption Rates for Bellingham – 6-01-09

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 absorption rate, how long it will take to sell the current inventory at the said absorption rate.

This is a very interesting way to look at the market, as of today:

Average List Price $536,061     Days on the market 118

Median List Price $409,000        Days on the market 76

Price Range	Active Listings	Monthly Absorption Rate	Pending Past week	Months to sell Current Inventory
Up to $199,999	30	6.1	2	4.9
200,000-299,999	118	28.4	14	4.2
300,000-399,999	83	15.8	11	5.3
400,000-499,999	71	7.8	5	9.1
500,000-599,999	63	3.5	5	18
600,000-699,999	35	2.1	0	16.6
700,000-799,999	20	.7	0	28.5
800,000-899,999	17	.8	1	21
900,000-999,999	10	0.5	0	20
1,000,000-1,999,999	46	0.6	1	76.7
2,000,000+	7	.1	0	70
Totals	525	67.1	38	7.8

It still looks like a buyers market under $400.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.