Bellingham Real Estate Market Report for February, 2008

Real Estate Market Report/Conditions for Bellingham, WA for February, 2008

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

  • Currently Active Listings: 544
  • Average List Price $491,959   Days on the Market:  114
  • Median List Price: $377,000 Days on the Market:82
  • Sold in January: 68
  • Average Sales Price: $366,515
  • Average List Price: $378,641
  • Ratio of List to Price: 96.8%
  • Average Days on the Market: 106
  • Median Sales Price: $294,450
  • Median ListPrice: $304,400
  • Ratio of List to Price: 96.7%
  • Pending Sales Last Week: 19

  Condo Analysis for Bellingham

  • Currently Active Listings: 297
  • Average List Price $285,959    Days on the Market:  217
  • Median List Price $211,400   Days on the Market:  122
  • Sold in January: 36
  • Average Sales Price: $247,453
  • Average List Price: $250,963
  • Ratio of List to Price: 98.6%
  • Average Days on the Market: 196
  • Median Sales Price: $200,000
  • Median List Price: $202,995 
  • Median Days on the Market: 95
  • Ratio of List to Price: 98.5%
  • Pending Sales Last Week: 5

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

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