Bellingham Real Estate Market Report – September 5, 2007

Real Estate Market Report/Conditions for Bellingham, WA for Septeember 5, 2007

The following is a quick analysis of the Residential Bellingham real estate market by Michael Eisenberg of Fairhaven Realty.

  • Currently Active Listings: 692  Average List Price $484,932   Days on the Market:  99
  • Sold in August: 142   
  • Average Sales Price: $360,175
  • Average List Price: $367,287
  • Ratio of List to Price: 98%
  • Average Days on the Market: 95
  • Median Sales Price: $310,988
  • Pending Sales Last Week: 24

  Condo Analysis for Bellingham

  • Currently Active Listings: 368  Average List Price $254,893   Days on the Market:  204
  • Sold in August: 51   
  • Average Sales Price: $203,571
  • Average List Price:$206,191
  • Ratio of List to Price: 95.7%
  • Average Days on the Market: 205
  • Median Sales Price: $191,000
  • Pending Sales Last Week: 14

After the report from The Office of Federal Housing Enterprise Oversight that said that home prices in Whatcom County during the second quarter increased 5.1 percent compared to last year, we’re seeing a decrease in average price for the monthcompared to lst year of 9.5%, but if we look at the median price there is an increase in price of 2.3%…………..Amazing what these different numbers say.

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, especially condos.

Sellers: There is 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:

  • 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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