Bellingham Real Estate Market Report – Jan, 2008

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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