Bellingham Real Estate Market Report for September, 2008

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

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

  • Currently Active Listings: 594
  • Price range of active listings – $138,900 – $3,575,000
  • Average List Price $535,234  Days on the Market:  111
  • Median List Price: $396,250    Days on the Market:   86
  • Sold in September: 73
  • Average List Price: $372,393
  • Average Sales Price: $355,758
  • Ratio of List to Price: 95.5%    Days on the Market: 96
  • Median ListPrice: $289,000
  • Median Sales Price: $285,000   Days on the Market: 56
  • Ratio of List to Price: 98.6% 
  • Pending Sales Last Week: 35  

                     Condo Analysis for Bellingham 

  • Currently Active Listings: 264
  • Price range of active listings – $99,900 – $1,565,000
  • Average List Price $299,074     Days on the Market:  210
  • Median List Price $222,400        Days on the Market: 154
  • Sold in September: 34
  • Average List Price: $227,237
  • Average Sales Price: $219,677 
  • Ratio of List to Price: 96.7%  Days on the Market: 149
  • Median List Price: $202,400
  • Median Sales Price: $194,750  
  • Ratio of List to Price: 96.2%  Days on the Market: 110
  • Pending Sales Last Week: 4

Buyers: Interest rates are still low making now may be a good time to get in the market, depending on your circumstances. There are still plenty of homes to choose from and many 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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