Blaine Real Estate Market Report for January 2008

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

  • There are currently 240 homes for sale.
  • Homes are priced from $87,950 – $3,500,000
  • Average Asking Price is $506,039
  • Median Asking Price is $339,700
  • Average Days on Market are 140 days (or about 4 1/2 months)
  • 7 Homes went Pending this week
  • 15 Homes sold in January
  • Average Listing Price $308,923
  • Average Sold Price $286,070
  • Average Days on the Market 58
  • Median Listing Price $235,000
  • Median Sold Price $230,000
  • Median Days on Market 38

As you can easily see there is quite a large discrepancy between the average price for a home presently on the market a $506,039 and the average sold price last month of $286,070. It looks like the $3,500,000 home is skewing that average price quite a bit.

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 Blaine real estate or living in Blaine visit my website at BellinghamProperty.com or give me a call. 

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