Bellingham Real Estate Market Report for August, 2008

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

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

  • Currently Active Listings: 645
  • Price range of active listings – $144,900 – $3,575,000
  • Average List Price $527,522   Days on the Market:  110
  • Median List Price: $389,950    Days on the Market:   78
  • Sold in August: 87
  • Average List Price: $424,249 
  • Average Sales Price: $405,983
  • Ratio of List to Price: 95.7%    Days on the Market: 77
  • Median ListPrice: $319,000
  • Median Sales Price: $309,500   Days on the Market: 53
  • Pending Sales Last Week: 27  

                     Condo Analysis for Bellingham 

  • Currently Active Listings: 286
  • Price range of active listings – $110,000 – $1,565,000
  • Average List Price $300,872     Days on the Market:  192
  • Median List Price $222,400        Days on the Market: 127
  • Sold in August: 30
  • Average List Price: $221,980 
  • Average Sales Price: $211,970  
  • Ratio of List to Price: 95.5%  Days on the Market: 103
  • Median List Price: $182,250
  • Median Sales Price: $180,000    
  • Ratio of List to Price: 98.7%  Days on the Market: 85
  • Pending Sales Last Week: 9

Buyers: Interest rates are still low making now is a good time to get in the market. There are still plenty of homes to choose from and many of these homes 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
  • Have 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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